The Ministry of Trade carried out a comprehensive audit of real estate businesses that took advantage of the developments in mortgage interest rates to raise prices exorbitantly. As a result of the inspections, 117 real estate businesses that manipulated market conditions were fined a total of 11.7 million TL.

In a statement released by the Ministry, it was emphasized that the protection of fair competition in the housing sector is a priority and violations of consumer rights will not be allowed. It was stated that inspections will continue unabated, especially against businesses that make unfair increases in prices by taking advantage of fluctuations in housing loan interest rates. It was stated that those who make unfair profits within the framework of legal regulations will be punished and the market will be transparent and fair.

Ministry of Trade officials stated that the inspection processes will continue in order to prevent the victimization of citizens and announced that price fluctuations in the housing sector are closely monitored.

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