Dd mortgage predicts a steady konut kredisi market in turkey
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Transcript of Dd mortgage predicts a steady konut kredisi market in turkey
DD Mortgage Predicts a Steady KonutKredisiMarket in Turkey
Statistics from the Central Bank of Turkey indicate that the Turkish konutkredisi market has grown by
about 25 per cent in 2010 and continues to grow steadily in 2011 as well. Withstatistics in favor of them,
DD Mortgage, Turkey’s leading mortgage company is moving aggressively to gain dominance in the
country’s mortgage market.
DD Mortgage was formed in 2006, when the world’s leading bank, Deutsche Bank and Dogan Company,
forged an alliance to start mortgage related business in Turkey.They have been in the forefront to
promote several konutkredisi products including pay per less frequently, the first home loan, commission
free home cash etc. They were the first to make portfolio sales in 2010 and issued 3 year term corporate
bonds to the tune of 50 million TL in 2010. They are also the first company to issue bonds in the
mortgage industry.
Demands for their products have surged, thanks to the substantial hike in the percentage of foreigners
who have invested in the country. In fact, Pricewaterhouse Cooper has named Istanbul as the
NumeroUno place in Europe for people to invest their money. This distinction has been bestowed on
Istanbul, twice in a row.
Thanks to the Mortgage Law passed in 2007, consumer loans have grown for the good with about
172.693 billion TL being issued as on February 2011, as compared to 91.353 billion in 2007.
As the country continues to progress, a large number of people are now migrating to cities and other
affluent cities. This has thus given a rise to the need for affordable housing. Mortgage companies like DD
Mortgage have made inroads in this sector as well. In fact, housing schemes launched for the poor are a
source of inspiration for countries like Kyrgyzstan. These schemes provide konutkredisi at a very low
interest rate of 6-8%, and can be repaid over 20-30 years.
After years of poor credit ratings, Turkey’s credit ratings got a shot in its arm, thanks to Standard and
Poor moving its local currency sovereign rating up by two notches, to BBB; i.e. to investment grade. With
positive prospects like these, DD mortgage is sure to make inroads.
About DD Mortgage: With unique and friendly konutkredisiproducts, DD Mortgage is a leading mortgage
company in Turkey, providing mortgage solutions with the help of specialized credit portfolio managers.
To know more, visit, http://www.ddm.com.tr/