Market news

The cycle of economic forecasts for 2009 from the representatives of the real estate market.

In the continuation of a few days ago started the cycle of forecasts regarding the Turkish real estate market, we are publishing opinions of Sinan Fındıkoglu and Firuza Soer.

Sinan Fındıkoğlu - General Director of «YKS Tesis Yönetim Hizmetleri»
«In the 2008th year, as in previous years, we have seen a parallel course of investment trends. Many projects have been implemented. Increased trade complexes at the expense of real estate is a major achievement. Within a short time, these investments will be meaningful key catalyst for the economy and jobs.
- I do not think that commercial complexes strongly increase. Even possible to stop investing. In certain regions, where commercial complexes are in range with each other and has a large number of them reduction is possible. This will be the reason that the income from the rental of fall, as investors in the commercial complexes will have a small profit. We can say that  commercial complexes wich it is not able to control the movement of establish will be closed.
- With regard to housing projects could say next to the possibility of the emergence of new demand will have to wait until the fall of interest rates, so the project will be stopped. Some suggestions for a dependent from the basic economic situation of a class will be a drop in demand and the emergence of a new balance between supply and demand. But I assume that the desire to buy housing will regain its completeness and speed.
- If you look at the table of investment in offices, we can see that, especially in Istanbul on investments in new and existing offices with a 2006-year increase. In the 2009th year, they are a bit down to the 2010th year again take up their seats. »

Firuz Soyuer-co-head of «DTZ Pamir & Soyuer»
DTZ Pamir& Soyuer«The optimistic picture of the real estate of Turkey, which we saw in the beginning of 2008,  to see in  the beginning of 2009 the first year is not possible. Despite the problems with the financing of real estate, which is abroad (large debts and others.) caused by the global crisis, the decline in the real estate sector will be felt in the first half of 2009-year. The drop in retail demand would adversely affect the shopping malls and other sectors. But the most important negative impact on the housing sector. It is  expected the decline of it. I hope that if the financial environment of confidence will well affect consumers, mortgage interest rate will fall to 10% per year, or at least financial institutions will support it at this level two years, the demands of middle class will be regained. »

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

News was edited by “VESTA Estate”

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