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The expectations that the Central Bank will lower interest rates have activated opportunists in the housing market. Even before the interest rate cut, they increased the prices of the listings they posted by up to 20% in the last month. Housing opportunists were identified as a result of the monitoring and were fined. 11 MILLION 700 THOUSAND TL FINE FOR OPPORTUNISTSThe Ministry of Trade announced that a fine of 11 million 700 thousand TL was imposed on 117 real estate businesses that made exorbitant price increases in listing prices within September. In a statement from the ministry, it was noted that the Ministry of Trade, upon news that there would be a decrease in housing loan interest rates, conducted an inspection on a real estate business that had made exorbitant price increases in listing prices last week and imposed an administrative fine of 100 thousand TL. It was stated that "117 more real estate businesses that made exorbitant price increases in listing prices within September have been identified, and as of today, a total administrative fine of 11 million 700 thousand TL will be imposed on each real estate business at 100 thousand TL." The Ministry of Trade stated that price changes on listing platforms will continue to be closely monitored, and necessary administrative fines will be decisively imposed on real estate businesses that try to take advantage of the decrease in loan interest rates and make exorbitant price increases in listing prices.
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