Mortgage Law Pending in Turkey

New legislation in Turkey is expected to pass in mid-2006 and create a fully functioning mortgage market in that country, according to a recent report from Research and Markets.Efforts in recent years to reduce extremely high levels of inflation through a floating foreign exchange regime and tight monetary policy have led to improvements in Turkey’s market conditions, the report indicates. The report also notes that the country’s high interest rates have fallen from around 24% at the end of 2004 to 13% at the end of 2005. Research and Markets can be found on the Web at http://www.researchandmarkets.com.