Stating that the stagnation in housing sales has led to the expectation of a decrease in prices, FCTU Chairman Gülçin Okay said that there will be no decrease in prices due to increasing costs.
Noting that costs such as land, construction materials and labor have increased due to the increase in inflation, Okay said that the value of second-hand houses has not decreased due to the slowdown in new housing production.
Reminding that 35 percent bank interest seems attractive for those who have cash, Gülçin Okay said that those who invested in housing have tripled or quadrupled their earnings in the last year or two and said, “Real estate investors continue to earn. Housing production decreased and costs increased significantly. For these reasons, the value of existing homes did not decrease. There was a general stagnation in sales; The demand for rental housing has also increased significantly. Those who invested in real estate earned more than investment instruments such as gold and foreign currency, and did not take risks. Local elections in March 2024 will also affect the sector. Exchange rates, which are currently under pressure, may follow a different course after the election. Therefore, investors should not wait for housing prices to fall; "Those who have the means should take action immediately," he said.
HOUSING DEMAND WILL CONTINUE
Underlining that Izmir is a city in demand due to reasons such as transportation opportunities, climate, proximity to tourism centers and the nature of its people, and that it will continue to receive qualified immigration, Gülçin Okay said, “As FCTU, we have 70 real estate consultants and nearly 130 real estate consultants in an area of approximately one thousand square meters. including facility management personnel; We continue our services in Izmir and the Aegean with an experienced team of approximately 200 people. The real estate sector has many service areas within itself. To achieve this, we work together with our teams specialized in different fields. "We are also assertive in real estate sales and rentals, professional building management and property management, which is an important need in Izmir," he said.
A PROFESSIONAL TEAM IN PROPERTY MANAGEMENT
Pointing out that the important families of Izmir manage their property with the references and sense of trust they have gained in the sector for years, Okay said: “Property management is not practiced professionally in Izmir. But actually it is a very important issue. Until now, lawyers were monitoring a family's multiple title deeds and real estate such as rental offices, residences and land. However, this is not just a legal process. Renting, maintenance, renovation, taxes, subscriptions, finding or evicting tenants, purchasing and dues of real estate are actually the job of real estate professionals. The real owners of this business should be real estate companies. Because location representation in sales and rentals, determination of current sales prices, and monitoring of changing legislation are issues that real estate consultants are constantly involved in. For this purpose, we established a team consisting of lawyers, financial advisors and consultants. We also have teams for the maintenance and repair of residences and workplaces with a CRM system specific to property management. We continue this business in Izmir with a professional approach and meticulousness. The most important issue in property management is honesty and trust. Correct pricing, renting or selling property to the right person, tracking and reporting the process are important.”