The Main Reason of the Increase in Housing Price in Istanbul Land Boredom

The main reason for the increase in housing price in Istanbul is the land problem
The main reason for the increase in housing price in Istanbul is the land problem

Under the realization of the need for new housing production and land shortage in Istanbul in Turkey was the main cause of the price increase especially in the last one year. Noting that the lack of land in Istanbul will accelerate the price increase, MİNT Chairman of the Board Sefer Altıoğlu stated that citizens who could not find a zero residence as they wanted turned to second-hand houses.

Turkey in the new housing would the price increase as a result of supply drop in production reflected in the forthcoming period expressing MINT Chairman Expedition Altıoğlu, in locations that provide easy access to stating that the zero issue of finding shortage of experienced, gave the following information:

Demand Accumulated with Pandemic Increases the Expected Increase in Housing Sales with the Fall of Interest

There was an expectation for an increase in housing sales due to falling interest rates. This increase was over 200% according to Tuik data. The main reason for this is that the demand that started before the panel was interrupted by the pandemic. The monthly sales that should be between 120 and 130 thousand levels are between 40 and 50 thousand in the pandemic period. With this accumulated demand, sales were realized as we expected with the low interest rate announced by the public banks. We see that the biggest part of this increase is sales of mortgaged housing.

Zero Housing Achieves at 3 / 1rd of Organic Demand

In zero housing figures, the situation is at the rate of 2,5/3 of the last 1 years. This situation shows us that the production of new houses is currently below the organic need, because the new housing is not being produced.

Land to Develop Housing in Istanbul Limited

Stressing that the main issue in housing production is the shortage of land, MİNT Chairman Sefer Altıoğlu continued his words as follows: When you go out, you do not see the trucking trucks on the roads as before. What did we do in the last 10-15 years when we talked about Istanbul? We transformed the factory lands in Kartal, Ümraniye, Kağıthane-Cendere, Topkapı and Bayrampaşa into houses. Press Ekpress in the same way. Unfortunately, we have finished these industrial areas roughly in the coming period, 90-95 percent of these lands turned into houses; There is a shortage of producing land in the places we will call the first and second regions of the city where they can reach without losing time in traffic.

“Housing Price Increase will accelerate between Kartal Courthouse and Press Express”

How are we going to produce this land in this region now? With urban transformation; However, it is difficult and long time to produce land based on urban transformation. Expectations of land owners and legislation prevent the process from proceeding fast as desired and expected. Unfortunately, the difficulty of producing land in the city center in Istanbul, where people can reach without losing much time in traffic, will unfortunately accelerate the price increases in the area between Kartal courthouse and Basın Ekspres. ”

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