Regulation of Real Estate Market in Turkey: Real Estate Market Authority Proposal

With the effects of the globalization in the Information, Communication and Transportation Technologies, country economies have become more integrated since 1980s. Another effect of the globalization is that economies and the marketplaces that form economies started to compete with each other. This led the frequency of economies to face up with economic crisis. Therefore; country economies started to need to regulate the marketplaces which form their economies to compete at an international level, make their economic growth and development sustainable and improve their economies on a knowledge based system in order not to experience economic crisis anymore. In the light of Mortgage crisis experience which started especially in the USA in 2008 and then spread to the other country economies, as a result of the instability in the financial markets, it came to the fore to found powerfully and effectively formed regulator public institutions which will function as regulation, inspection and supervision. After the mortgage crisis mentioned, the necessity of regulating and inspecting the real estate market in Turkey showed up. Within this context, “The Authority of Real Estate Market” was offered in order to prevent the potential economic crisis that may show up in the real estate market in Turkey