Does Re-Design of the Policies on Housing Finance and Supply Help to Solve Housing Question of Turkey?

18th Annual ERES Conference, Eindhoven, Netherlands, June 15-18, 2011

51 Pages Posted: 22 Jun 2011 Last revised: 17 May 2015

See all articles by Yener Coskun

Yener Coskun

Capital Markets Board of Turkey

Date Written: June 18, 2011

Abstract

Housing is one of the major socio-economic problems in Turkey. Widespread spontaneous settlements in urban area may be accepted as the sufficient criterion for the level of housing question in Turkey. Additionally, there are important quality problems in existing housing units. This problematic structure may be also explained by the lack of efficient housing policies and housing finance system. It seems after 2003 that housing policy of Turkey is essentially based on the Housing Development Administration's (HDA) pragmatic approaches. In this context, we may argue that the current housing policy is one-dimensional and also would be unsustainable in some perspectives. In this experimental research, the author attempts to analyze limitations and clear/potential problems of the housing policies of HDA. We basically analyze whether affordable housing problem is minimize with alternative policies and required incentives. In this context, we review housing subsidies and PPPs as the instruments of alternative social/private rental housing supply models. In a broader perspective, the original contribution of this paper is to examine private rental housing, social rental housing, urban renewal, micro-finance and housing production of REITs as the alternative housing supply/finance models to improve affordable housing. We conclude that these alternative housing supply/finance models may improve housing affordability and hence minimize the housing question in Turkey, if they can optimally design and required incentives may meet by the central/local governments.

Keywords: Housing finance, affordable housing, Turkish housing policies, TOKI, Housing Development Administration

JEL Classification: R31, R38

Suggested Citation

Coskun, Yener, Does Re-Design of the Policies on Housing Finance and Supply Help to Solve Housing Question of Turkey? (June 18, 2011). 18th Annual ERES Conference, Eindhoven, Netherlands, June 15-18, 2011, Available at SSRN: https://ssrn.com/abstract=1868758 or http://dx.doi.org/10.2139/ssrn.1868758

Yener Coskun (Contact Author)

Capital Markets Board of Turkey ( email )

Eskisehir Yolu 8. km No:156
Ankara, 06530
Turkey

HOME PAGE: http://ankara.academia.edu/yenercoskun

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