Following reports of a potential decrease in housing loan interest rates, the Ministry of Trade initiated an investigation in the real estate market. The ministry imposed a fine of 100,000 lira on a real estate agency that engaged in excessive price increases in property listings.

According to a statement from the Ministry of Trade, last week, a real estate agency that inflated property listing prices was inspected by the Directorate of Domestic Trade in response to news suggesting a decrease in housing loan interest rates. After the inspection, the agency was fined 100,000 lira, as stated in the announcement. It was further noted that “In September, 117 real estate agencies that significantly increased their listing prices were identified, and as of today, administrative fines totaling 11.7 million lira, with each agency fined 100,000 lira, have been imposed.”

Closely Monitoring: The announcement emphasized that price changes on advertising platforms will be closely monitored by the ministry. It was also stated that the ministry is determined to continue enforcing necessary administrative penalties on real estate agencies attempting to take advantage of decreased interest rates by inflating listing prices.