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7 million houses needed in Turkey

Turkey has a current population of 72 million and with increasing levels of prosperity, the demand for private housing across the country is on the rise. Estimates show that over the next ten years, seven million new houses will be required, a pressure reflected in Istanbul's real estate market.

In addition, the introduction of new mortgage laws will also boost the Turkey real estate market and attract foreign investment. The new law allows both fixed and floating interest rates, allowing borrowers to repay the loan over a 30-year term after an initial 25% deposit.

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