Market news

Prices should stabilize and contractors should come down to the ground

23.07.2011

General Director of Trio Yatırım Değerleme Taşkın Haşemoğlu, while pointing out that the cost of building offices is 50% less according to that of residential real estate, said: "The price of offices should get balanced, contractors must come down to the ground."

General Director of Trio Yatırım Değerleme Taşkın Haşemoğlu, while pointing out that the cost of building offices is 50% less according to that of residential real estate, said: "During the construction of residential real estate there are a lot of nuances from the kitchen to the floors of the bathroom to the wallpaper, that have to be provided. Due to the fact that the offices do not possess these features, they cost less, but this has no effect on prices. " While emphasizing that the prices of offices must get balanced, Haşemoğlu said: "In Ankara, you can get a good residential property for 3000 lira per square meter. But, when it comes to office, the price is about 5,000 lira. Contractors should come down to the ground. We do not encourage citizens to purchase offices for such prices. "

Dynamism increases prices
Haşemoğlu, noting that on Monday after the election, the market was very dynamic, stated: "The presence of the dynamism means a rise of prices and banks’ interest rates. Dynamism leads to a decrease in benefits of promotions. There has not happened a surprise in the election. This fact was welcomed by the stock exchange and the rest of the world. People are expecting prices to fall, but we have repeatedly noted that the prices will not fall as well since they are at the bottom already. There won’t be prices below that level in the sector of real estate. Further rise in interest rates of banks is expected. Buyers should be very reasonable while using this summer period. The prices are going to rise after September, October. There has been significant growth in construction costs, prices for the metal. Cost of the construction areas affects the figures seriously. The appearance of plots for construction declined significantly when compared with the previous period, and this affects the value of apartments. "

Buying brings in return
It is important to find right real estate. Selling is not creating income in this sector, the thing that brings profit to one is buying. If you buy real estate cheaply you can easily sell it afterwards and thus increase your profit. the period when money made money has ended already. Real estate is the best investing tool today. The prices of land in Ankara are going to increase soon. There are too much offers in Istanbul and the market is overloaded. Ankara is virginal from this point. There is a lot space to create new concepts here. Ankara is not from that cities that grow in one direction. Usually cities grow in western direction. Ankara also followed this way, but now the city has grown too much to the west. Through such projects like ‘Dogu Garajı’ and new entertainment center in Mamak city’s new replanning is planned.



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