172 million lira fine against the rise in real estate prices

The Ministry of Trade continues its efforts to create a fair and competitive market in the real estate sector. As part of the measures taken to prevent grievances among citizens, the Ministry banned unjustified price increases that are inconsistent with economic data in online real estate listings through a regulation change made in May.

With this regulation, not only real estate businesses but also property owners and other individuals publishing listings can face administrative sanctions. In a statement made by the Ministry, it was noted that electronic listings have been examined recently, and it was determined that the price increases of 70 property owners and 186 real estate businesses were not consistent with economic data. In this context, a total of 34,900,000 TL in administrative fines was imposed on 256 individuals.

It was reported that a total of 172 million lira in fines has been imposed as a result of inspections carried out in the real estate sector to date. The Ministry of Trade aims to protect the rights of citizens by continuing its market regulations and inspection activities.

News Source: 12punto