After the Central Bank increased the policy interest rate to 50 percent, investors continue to invest their deposits in banks.
Stating that investors are psychologically turning to banks and moving away from buying housing, Sirius Yapı Chairman Barış Öncü called for those who have money in the bank to invest their deposit income in real estate.
The monthly return on a deposit of 7 million is 350 thousand TL. Öncü said, "When the income from this interest is invested in real estate for 18 months, the citizen gets a new house without touching his principal. Moreover, the price of the house he bought for 7 million TL today will almost double in a year and a half to 14 million TL. It is possible. The investor gains 3 times the profit with his principal. However, the money he invests in the bank can generate income at most twice as much,” he said.
INSURANCE YOUR DEPOSIT INCOME WITH REAL ESTATE
People who want to invest in real estate wonder 'what will happen if interest rates drop?' Emphasizing that the question comes to mind, Barış Öncü said, “If the interest rate decreases, the profit rate they will receive from the banks will also decrease. If they invest the interest income they earn into real estate, the price of the house will continue to increase. They will insure the deposit income with real estate. We are waiting for new investors with this payment system, including 10 percent down payment, in our Sirius Florida project. There have been increases of up to 3 thousand percent in some products since the pandemic period. As long as inflation increases, construction material and land prices will continue to rise. "For this reason, those who want to buy a house should hurry up to buy a house in order to have an advantage over time."
NEW LAND MUST BE PRODUCED FOR NEW HOUSING
Stating that contractors are having problems because they cannot find affordable land, Sirius Yapı Chairman Barış Öncü emphasized that both state and local governments should take action as soon as possible regarding the production of new land.
Barış Öncü continued: “We have difficulty finding large square meter land in the center of Izmir. As the square meters increase, the prices also increase. As the construction industry, one of our biggest problems is land. In the city center, there are thousands of decares of publicly owned land that has no longer qualified as fields and forests. These should be planned on a lower and upper scale and opened for construction in favor of the citizens. Priority should be given to lower and middle income groups to enable them to become homeowners. Instead of building houses on fertile lands and plains, these areas should be utilized. In this regard, points where infrastructure services can be easily established and close to the highway should be determined. Without forgetting the reality of earthquakes, urban transformation should be given urgency. Planning should be done on an island basis, not on a building basis, by providing the necessary loans and supports. I congratulate all the mayors who took office. I call for action for the necessary planning, zoning and infrastructure works. "We, as contractors' associations and federations, are ready to provide all support."