Market news

Turkish realty prices will not rise any more

General Director of ING Bank Hakan Eminsoy considers that if the atmosphere of capital and money markets will be good we may hope to see decline of interest rate for the housing credit in the third semester.
He thinks that while offer is so big Turkish realty prices will not grow up. So, we should not wait any Turkish realty prices increase. The mortgage system has been spoken on the conference organized by “Milliyet” newspaper and İNG Bank in the Four Seasons Hotel Bosphorus. In the first part of this year banks were not so helpful and resolute in giving credits. But now Turkish realty market started to grow up and become bigger and bigger.

Eminsoy says that Turkey has actives for the 16, 9 billions of liras. In the end of 2008 year total amount of money as mortgage credit was 1, 5 billion of liras. Nowadays Turkish realty market is full of unsold property. The same things were said by “Milliyet”writer Serpil Yılmaz. He also has spoken about need in construction of new projects and bad effect of demand absence to the construction sector of Turkey.  Other writer of this newspaper has spoken about hugeness potential which has construction sector of Turkey.  He said that time when world was full of money lasts in history. Will the same situation be in future or not is unknown. Being in financial crisis Turkey is first country who asks help from the IMF. So, now is time to change situation and to find out other way out.

Mortgage is still a safe investment 

ING Bank Board of Directors Deputy Chairman Vincent van der Boogert has told about future plans of this bank. He said that ING Bank is ready to increase it‘s part on credit market. He also said that mortgage is still safe investment. General economist of ING Bank Rob Carnell considers that the last countries which will find a way out of the financial crisis will be European countries and Japan.  He thinks that the crisis will last in 2010 and 1011.  The USA has been affected from the crisis much more than others. So, we may hope to see decline of realty prices there.  But in the end of crisis the USA will become the most powerful one among the countries which could find way out from the crisis.

News was edited by “VESTA Estate”

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