Abstract
Overview
Introduction
Turkey experienced strong growth in mortgage gross advances over the last few
years. What are the current issues facing this market? How are housing
policies affecting its performance? Who are the biggest lenders? What will be
the size of the sector in the next five years? This report provides the
answers.
Scope
- Covers the residential mortgage market.
- Provides market sizing data in terms of gross advances and balances
outstanding.
- Provides competitor market share for the top five players in terms of
balances outstanding.
- Looks at housing policies, regulations and issues in the mortgage market.
Report Highlights
The Central Bank of Turkey has continuously increased its policy rate during
June 2006 to July 2006 from 13.25% to 17.50% in order to rein in inflation.
Although typical mortgage rates have increased this year, they are expected to
fall gradually in the longer term.
From 2002 to 2006, there has been continuous growth in the level of balances
outstanding of mortgage loans at a compounded average growth rate of 191.5%,
thus further reflecting strong growth in mortgage lending.
The secondary legislation will allow lenders to get access to more efficient
funding methods. Indeed, lenders currently use short-term deposits (average
maturity of three months) to fund long-term borrowing (mortgages).
Reasons to Purchase
- Learn how Turkey' s mortgage market has developed over the last five years.
- Understand the recent developments in the mortgage market in terms of
regulations and competitor shares.
- Find out Datamonitor' s opinion on the future performance of Turkey' s
mortgage market over the next five years and its future prospects.
Table of Contents
- Overview
- Executive Summary
- Market size
- Market forecasts
- Key issues
- Key market players
- Table of Contents
- Table of figures
- Table of tables
- Market Context
- Country overview
- Demographics data on a selection of major western European countries
- Housing market
- Housing stock
- House prices
- Government housing intervention
- General housing policy
- TOKI and SPO
- Market data
- Mortgage interest rates
- Market size
- Balances outstanding
- Gross advances
- Product lines
- Market structure
- Categories of financial institutions
- Commercial banks
- Islamic Finance Houses
- Mortgage market structure
- Market structure overview
- Funding
- Distribution
- Regulatory environment
- Industry regulators
- Türkiye Cumhuriyet Merkez Bankası
- Bankacilik Düzenleme ve Denetleme Kurumu (BDDK)
- Industry associations
- Türkiye Bankalar Birliği (TBB)
- Other noteworthy organizations
- Credit bureaus
- Repossessions and rules of law
- Regulatory issues and developments in the banking sector
- New laws have been introduced affecting the legal framework and
supervision of the banking system
- The Banking Sector Restructuring Program
- Turkish politicians have welcomed the benefits of Basel II
- Regulatory issues and developments in the mortgage market
- The Mortgage Law was approved by the Turkish parliament in February
2007
- The Mortgage Law is expected to bring a number of effects
- Key issues
- Competitor and Product Overview
- Top five mortgage lenders
- Market share by balances outstanding
- Product analysis
- Typical product characteristics
- Market Forecasts
- Forecasting gross advances
- Datamonitor predicts that mortgage gross lending in Turkey will fall
in 2007 before picking up in 2008
- Future prospects
- Market attractiveness
- Market inhibitors
- APPENDIX
- Supplementary data
- Tables relating to Chapter 2: Market context
- Definitions
- Balances outstanding
- CAGR
- Fixed rate mortgage
- Gross advances
- Loan-to-value (LTV)
- Mortgage intermediary
- Remortgaging/refinancing
- Variable mortgage
- Forecasting methodology
- Research methodology
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
- List of Tables
- Table 1: Forecast of mortgage gross advances in Turkey, 2005-11f, (TRY
million)
- Table 2: Total population across major western European countries,
2002-06
- Table 3: GDP at current rates across major western European countries,
2002-06, (€ billion)
- Table 4: GDP per capita at current rates across major western European
countries, 2002-06, (€)
- Table 5: GDP growth rates across major western European countries,
2002-06, (%)
- Table 6: GDP composition by sector across major western European
countries, 2006, (%)
- Table 7: Inflation across major European countries, 2002-06, (%)
- Table 8: Unemployment rates across major western European countries,
2002-06, (%)
- Table 9: Residential mortgage balances outstanding compared to GDP of
selected European countries, 2006
- Table 10: Market share of top five competitors in the Turkish
residential mortgage market in terms of balances outstanding, 2005-06, (€m)
- Table 11: Forecast of mortgage gross advances in Turkey, 2005-11f,
(TRY million)
- Table 12: Residential mortgage gross advances and balances outstanding
in Turkey, 2002-06
- Table 13: Net residential mortgage lending in Turkey, 2003-06, (TRY
million)
- List of Figures
- Figure 1: Mortgage gross advances have been growing rapidly in Turkey,
2002-06
- Figure 2: Akbank remains the largest provider of residential mortgage
loans in Turkey in terms of balances outstanding, 2005-06
- Figure 3: A snapshot of Turkey' s key statistics, 2006
- Figure 4: 68.3% of Turkish households were owner-occupied in 2000
- Figure 5: Mortgage balances outstanding reached TRY22.1 billion in 2006
- Figure 6: Net lending in Turkey fell by 2% in 2006
- Figure 7: Mortgage gross advances have been growing rapidly in Turkey,
2002-06
- Figure 8: The three pillars of Turkish commercial banking, 2007
- Figure 9: Regulatory overview of Turkey, 2007
- Figure 10: Akbank remains the largest provider of residential mortgage
loans in Turkey in terms of balances outstanding, 2005-06
- Figure 11: After falling in 2007, mortgage gross lending will pick up
in 2008 to reach TRY33.2 billion in 2011 in Turkey
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