Fine for exorbitant increases in house prices: Ministry of Trade did not tolerate
The Ministry of Trade took action against real estate agents who made exorbitant price increases on housing after reports of potential decreases in housing loan interest rates. During inspections, a real estate business was fined 100,000 TL.
The General Directorate of Domestic Trade of the Ministry of Trade acted against real estate agents who raised prices excessively in response to news of a potential reduction in housing loan interest rates. A fine was imposed on a real estate agent who significantly raised housing prices.
A fine of 100,000 TL was imposed
The Ministry of Trade shared information about the inspections on its social media account. In its statement, the Ministry said, “A real estate business that made an exorbitant increase in listing prices was inspected last week, and an administrative fine of 100,000 TL was imposed.”
117 real estate businesses identified
The Ministry of Trade began penalizing real estate agents implementing excessive price increases as of today. Real estate agents engaging in exorbitant price increases on listing platforms were identified one by one. In its statement, the Ministry, which closely monitors price changes, shared the following details:
“In September, 117 real estate businesses were identified as making exorbitant price increases on listings, and as of today, a total administrative fine of 11,700,000 TL has been imposed, with each business fined 100,000 TL.”
The Ministry of Trade will continue to closely monitor price changes on listing platforms. Administrative penalties will be imposed decisively on real estate businesses that attempt to exploit the potential decrease in loan interest rates by making exorbitant price increases.”
