2.2 Million People in 5 Years Used Housing Loans

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In a study of the Bank of Turkey’s Risk Center on credit information collected from banks and financial institutions, the number of residents and the number of people using it increased steadily.

Evaluating the results of the operation of the TBB Risk Center, TBB Chairman Huseyin Aydin noted that housing loans grew faster than other types of individual loans.

Aydin pointed out that during the period of 2016, the ratio of the national income of these loans increased by 2 percentage points to 7 percent and added.


“By the end of 2016, the number of people using housing loans exceeded 2 million. We see that the most preferred loan segments are between 100 thousand and 150 thousand TL, and the most preferred type is 8 years. The most used age range for housing loans is 31-41. Compared with the EU countries, housing loans have a high growth potential. For this reason we expect the request to continue. However, in order to further improve the financing possibilities in the housing sector, housing loans must come to the capital markets through securitization. ”

Stating that the sources are short-term but housing loans have an average of seven-year maturity, Aydin said maintaining the stability in the markets is very important. The Chairman of the TBB noted the importance of insurance during the lifetime of credits in terms of the health of the creditors and the protection of the clients from unforeseen risks.

According to the TBB study, housing loans in the period of 2011-2016 increased by 21 percent annually on average of 168 billion pounds. Year-on-year increases were 14 percent compared to the last three years, while annual real growth was 12 percent.

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