Real Esitate Certificate as a New Financial Instrument in Housing Finance And its Accounting

Abstract

The growth of population and rapid urbanization has increased the need for housing. To meet this need, the state and private sector are in various quests. One of the most important aspects of meeting this need is the financing of housing. In recent years, one of the methods used for housing financing is the Real Esitate Certifcate. Real Estate Certificate is a capital market instrument with equal nominal values that represent certain independent units of a real esitate project or certain area units of these independent units. These certificates are issued in order to finance real estate projects that are being built or to be built. Real estate certificates provide financing opportunity to issuers via the capital market. In order for the real estate certificate to be issued and traded on the Stock Exchange, it is necessary to apply to the Capital Markets Board and the Stock Exchange Istanbul simultaneously. The aim of this study is to introduce real esisate certifcate as a new financial instrument in housing finance and explaining accounting of real esisate cerifcate for applicators.