Preliminary research from the Competition Authority on rents increasing after the earthquake
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The Competition Authority started a preliminary investigation to determine whether real estate agents, real estate consultants and brokers operating in Ankara violated the competition by determining prices together in sales and rental fees after the earthquake.
Competition Authority, Kahramanmaras decided to conduct a preliminary investigation to determine whether real estate agents and brokers operating in Ankara violated competition by determining prices together in real estate sales and rental fees after the earthquakes in the center of Ankara.
According to the information obtained by the AA correspondent, the Competition Authority closely followed the price fluctuations in the real estate market after the earthquakes on February 6th.
The institution took action to implement the necessary inspection and sanction mechanisms against a possible cartelization.
In this context, a preliminary investigation was initiated by the Authority to determine whether real estate agents, real estate consultants and brokers operating in Ankara violate competition by determining prices for real estate sales and rental fees together. In many enterprises operating in the sector, on-site inspections are carried out by the experts of the institution.
In line with the findings, it is stated that the scope of the examinations can be expanded and other provinces can be included in the scope.
‘HEAVY SANCTIONS WILL BE IMPLEMENTED’
The Competition Authority officials stated that the high rates of increase in real estate sales and rental prices after the earthquakes in Kahramanmaraş caused grievances for all citizens who were looking for a house in their city and who had to move to different places due to the earthquake:
“The Competition Authority, with all its technical infrastructure and personnel resources, will continue to deepen its investigations on the real estate market in order to prevent cartelization, and will impose the heaviest sanctions against those responsible in case of detection of those causing price formations that occur outside the market conditions.” (AA)
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