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24

Danger Signs in the World’s Top Housing Market

By Tony Seruga

Builders’ borrowing, loan defaults are on the increase
Developers provide buyers inducements to keep sales strong

At first glance, the world’s best-performing housing market bears few of the usual hallmarks of a bubble about to pop.

Reliance on mortgages is low, and Turkish homeowners reliably repay their loans, helped by house prices that rose faster than in any other country last year. The risk, at a time when construction has grown to make up a bigger share of the country’s investments than in China, is with the builders rather than the buyers…

Danger Signs in the World’s Top Housing Market

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