CEESS Global : Competition Authority Takes Action on Rising House Prices and Rents After the Earthquake

Competition Authority Investigates Real Estate Market in Ankara

CEESS Global is closely following the preliminary investigation launched by the Competition Authority to determine whether real estate agents and brokers operating in Ankara are violating competition by setting prices together for real estate sales and rental fees. This step was taken after observing price fluctuations in the real estate market following the earthquakes on February 6.

Taking action to take measures against a possible cartelization, the Competition Authority examined the price-setting practices of real estate agents, real estate consultants and brokers operating in Ankara. In this process, 
According to the findings, the scope of the surveys can be expanded to include other provinces as well.
The authorities state that the high rate of increase in real estate sales and rental prices in the aftermath of the earthquakes centered in Kahramanmaraş caused victimization for both house hunters and citizens who had to move due to the earthquake. The authorities also emphasize that the most severe sanctions will be imposed against cartelization and non-market price formations.