Market news

Analysis of Turkish property in the 2008th year and projections for the 2009th year

At present everybode is talking about the crisis. All categories of people - from 0 simple probationer, to the successful businessmen - are interested in a simple question: "What awaits us in the future." In this regard, «VESTA Estate» begins the cycle of forecasts for 2009 from the leading representatives of the Turkish real estate market.

  The most important event of 2008 is the economic crisis, which began because of problems with the mortgage. Later, it was thought that it began because of problems with liquidity, although, in fact, the main reason was lack of confidence. In March, the major investment institutions: banks and insurance agencies - have confirmed this with theirs bankruptcy. After that, became time  for Europe. The  largest 3 bank of Iceland  had bankrupt. In England, the real estate market as well, and in the U.S., was to reduce the speed of development. Large car groups also suffered losses. Giants of this sector: Volvo, Chreysler, General Motors is almost on the verge of bankruptcy.

      There is no doubt that Turkey has also suffered from the events. Exchange rates rise sharply. Sales declined significantly. A powerful blow has been inflicted on the trade center. Housing prices decreased. Significantly decreased investment.

      In order to stop the crisis in September  of the last year the U.S. Congress has approved U.S. $ 700 billions. The size of the economic crisis can be determined only at the end of 2009 .

      In prepared  news we have prepared, we offer you the assessment of 2008 and projections for the 2009th year of the main representatives of the property sector.
Hakan Eren - General Director of company Doğuş GE GYO
real estate in turkey«Solving the problem of  the 2008th year will take all the 2009th year. This will be the year of reconstructions. First, we will see  economic changes, for example: interest lending took off, but will fall, exchange rates were lower - have increased, rents were high-falls, the prices of goods jumped - is now falling, confidence was shaken, - a little restored. 2009th year - this is a year of a test. All real property, all the projects stand the test of strength. Who came out of the crisis keeps on his legs, and those who fail will be seen immediately. After all will be in place, Turkey would be an attractive market with acceptable prices. Emerged investors that one or two years did not put any of their capital and that nothing has been able to earn. If we take into account these two factors, it is visible at once beautiful picture of the future. But I say, and that this is possible only when the real estate sector and lost a lot because of the crisis will saved of its continuation soon. »

The continuation of the cycle of forecasts, see in follow-up news publications.

News was edited by “VESTA Estate”

Forget password?