Abstract
Housing finance is a major issue for emerging economies. The approval of “Turkish Mortgage Law” paved the way for an efficient mortgage system in Turkey. However, the system should be supported by a comprehensive legal framework covering laws for foreclosure and title registration, the implementation of a strong secondary market mechanism and stable economy policies for the achievement. This paper begins with giving brief information regarding the key components of mortgage systems and then gives a detailed macro - economic evaluation of Turkish housing loan market, by considering the European Union. In the final section, some secondary market practices are introduced and possible perspectives for Turkey are discussed.
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