An illegal realtor in Ankara was fined 349,000 liras

The Ministry of Commerce has tightened inspections in the fight against price speculation in the housing sector. Recently, a fine of 349,000 liras was imposed on an illegal realtor who advertised an apartment with a market value of 2.1 to 2.3 million liras for a price of 3.87 million liras in Mamak, Ankara. The fine, was a precedent-setting decision against realtors distorting the market with high prices. Apparently, this time the government has really started to fight against "realtors" working without licenses, certificates and work permits.

Representatives of the real estate sector believe that the ministry should continue its work in other cities and increase the number of inspections. Nizameddin Asa, president of the Istanbul Chamber of Realtors, said both the number of inspections and fines should be increased: "Let the fines be even higher so that illegal agents have a serious deterrent. Such cases and price manipulation, unfortunately, destabilize the housing market. We fully support the decision taken by our ministry."