Turkey's housing credit crisis prompts new financing models and loan portfolio sale
SOA Holding chairman Yalçın Artukoğlu warned that Turkey's high‑interest environment has made conventional mortgage lending insufficient for many buyers. He said developers‑backed solutions, shared‑ownership schemes and flexible payment plans are expected to grow as construction costs rise and credit rates stay elevated, limiting access to affordable homes.
In a related move, Garanti BBVA announced the sale of delinquent loan portfolios worth about 353.5 million TL to several asset‑management firms. The five tranches, covering mortgage, credit‑card and other loan types, were sold for between 40 million and 91 million TL each, shifting non‑performing assets off the bank's balance sheet.
Both developments highlight mounting pressure on Turkey's housing finance market and banks' efforts to manage credit risk amid tighter monetary conditions.