Drawing attention to housing expenditures that have been postponed for a year, sector representatives emphasize that those who want to own a home are waiting for bank loan interest rates to decrease.
The organizers stated that they expect housing sales, which have been on an upward trend since the beginning of the year, to increase even more in the summer months, and it is noteworthy that the course of the economy is sustainable and predictable.
MORE SUPPORT SHOULD BE MADE
Sirius Yapı Board Chairman Barış Öncü: As Sirius Yapı, our sales have generally not slowed down. The 24-month interest-free payment opportunity we created with our own initiative has also had a big impact on this. I think it is a more sustainable model for the air conditioning system sector right now. It is a more predictable system that will ease the hands of those who want to buy a house. We also supply houses to construction cooperatives with more suitable conditions compared to the market in cooperation with us. With the increasing foreign exchange, there has been an increase of up to 10 percent in the costs of construction in the recent period. Although we cannot see our future clearly as a sector, we continue. Those who want to buy a house have difficulty accessing credit and are acting more cautiously. I think we will grow more in this sector.
THE REQUEST REMAINS VALID
Tanyer Yapı Board Chairman Münir Tanyer: There may be fluctuations in the economy from time to time all over the world. This currency needs to move temporarily. It is very important to maintain inflation targets and continue tight monetary policies. Since the pandemic, not enough housing has been produced in terms of construction. However, demand still maintains its protection. Currently, newly started and ongoing projects are important and valuable for everyone. People see housing investments as a safe haven. Izmir is Türkiye's annual year in my opinion. Due to its lifestyle, climate, ease of transportation and proximity to holiday resorts, extensive migration continues. There is a lot of work to be done in the field of housing.
SHOULD BE DECREASED TO REASONABLE LEVELS
FCTU Board of Directors Chair Gülçin Tamam: The decline in housing sales also increases the number of housing units in stock. For this reason, prices are also monitored by Extreme monitoring. Investors continue to develop for both use and investment. People expect credit interest rates to decrease. Competition has increased, prices have remained stable. Those who want to buy a house can now more easily choose the most suitable one for themselves. They tend to believe in the most affordable price and that there will be a premium in the future. Buyers are doing research up to 5-6 million for both living and investment. In order for these transactions to be repeated, credit interest rates need to be reduced. People with certain incomes are divided into these figures. It has become difficult to get credit from banks. People's economic credibility has decreased. In fact, the demand and need for housing is very high. If credit rates are reduced to reasonable levels, housing sales will also explode. However, if property owners set prices above the purchasing power of the market due to these demand conditions, these real estates will still not be sold.
THERE IS A NEED FOR URBAN TRANSFORMATION
Turkmall Board of Directors Vice Chairman Mehmet Altunhan: There is a great need for transformation transformation in Izmir to renew the stock of the structure and to produce new land. Our aim is to provide people with healthy, safe housing with modern and earthquake-resistant housing. Following Forum Göztepe, which carries the private sector financing and the introduction of the largest area-based transformation project in Türkiye, Novada Park is now in Cumhuriyet District. Karşıyaka We continue to experience the second largest transformation project with. There is a lot of work to be done in the transformation area to be carried out in Izmir. Because Izmir is a city on active faults and is at risk of earthquakes. In addition, the city's building stock is also old. Izmir needs to be transformed by 80 percent. Especially in the city center, this unhealthy housing stock attracts more attention. The construction of new and healthy housing is a condition for projects that will meet the needs of the day. Creating real commercial living spaces. New housing construction in Izmir and the Aegean continues investments in housing and mixed projects.
BOTH CHEAP AND VERY EXPENSIVE
Yücesoy Engineering Board Chairman Cem Yücesoy: Housing prices remained low in monitoring the increasing inputs. However, those with fixed incomes can continue to talk, in other words, housing has become expensive according to their purchasing power. Although construction and land costs are high, housing prices continue excessively. Therefore, those who want to buy a house should hurry. The increase has not yet been reflected in the housing prices. Construction companies are actually selling their houses under protection. Therefore, I think that the current processes can be extended twice until the end of the year. Today, when we intensify the costs, daily income situations and negotiations, we see that one of the most difficult days of life is buying a house. On the other hand, a period was separated when high costs and low profitability were calculated and houses were sold so cheaply. There was a two-year high interest rate policy. In fact, the demand for interest support also benefits those who want to buy a house in a sense in order to reduce it. The interest rate policy has reduced housing prices but has not reduced construction costs. There is no regular production other than the housing luxury housing reel such as cutting costs and not demanding. Prices are currently excessive. We are in a period with a purchasing advantage until September.
THOSE WHO CAN SHOULD BUY NOW
Erkaya Construction Board Chairman Doğan Kaya: The demand for usable land continues due to population growth, marriages and allocations. Recently, packages were announced for those who will get married. The housing market is not fully active at the moment. People are having difficulty accessing finance, they want more suitable long-term repayment terms. Due to the increase in interest rates in banks, people have chosen to evaluate their savings in banks. Since these cash amounts do not enter the wheels of the economy, they provide benefits. As construction companies, we are almost selling our housing stocks for expenses. This situation is not sustainable. Interest rates must definitely be reduced and new credit opportunities must be paid. Housing prices have also been stable for a while due to the decrease in sales. People want to buy houses before prices increase even more. Therefore, those who have the opportunity should buy houses now.
INTEREST ABROAD IS INCREASING
Koordinat Yapı Founding Partner Onur Durmuş: In recent years, Turkish companies have shown a significant increase in interest in foreign real estate markets. Turks are no longer limited to Turkey, they are also evaluating what is offered. Germany stands out with its economic stability and high living standards. For this reason, we are continuing the construction of a new surface in Duisburg, Germany, with the Coordinat Construction GMBH company we established for foreign markets. We plan to complete the last part of Coordinat West, consisting of 38 apartments and two commercial units this year. The intense interest in our project from Türkiye has been a concrete indicator of this trend. Izmir continues to be marketed attractively both for locals and foreigners. The success of our Koordinat Bornova project is a result of this. Young contractors need to think not only about the present but also the future when making investments. It is possible to be both solvable and successful with sustainable and product projects.
