The rise in house and car prices causes those who want to evaluate their investments in this direction to wait. However, as the prices change almost daily, those who are planning to buy a house-car are asking ‘Will house prices decrease?, Will car prices decrease?’ looking for answers to questions. Increasing prices every day causes those who wait to lose. Global developments lead to the continuation of price increases.
The oil and supply crisis that emerged with the war between Russia and Ukraine deeply affected the whole world. While the Central Banks continue to increase interest rates, the eyes of the markets focused on Fed Chairman Powell’s statements today. In the domestic market, the focus is on the Fed’s interest rate decision and the new economic package. Those who want to buy a house and a car follow all these developments closely.
100 SQUARE METERS FLAT 1 MILLION 700 THOUSANDS!
According to the news in Bloomberg HT; Housing sector in Turkey; The main factors such as rising production costs, slowing new housing starts, negative interest rate environment, protection against inflation, exchange rate shock, strong demand, foreign demand and immigration caused prices to increase significantly. According to the latest data; Housing Price Index, which increased by 10.2 percent in April 2022 compared to the previous month, increased by 127.0 percent in nominal terms and by 34.9 percent in real terms compared to the same month of the previous year. In Istanbul, the most important city of the sector, the increase is 142 percent, in the Mediterranean region, where demand has increased with the Russian occupation of Ukraine, Muğla, Aydın and Denizli are the cities with the highest increase in housing prices with 146 percent and Antalya with 158 percent. took. While the unit square meter price in Turkey was 10,574 TL in April 2022, this figure was 4,200 TL last year. On the other hand, the unit price of an average 100 square meter flat in Istanbul increased to 1.7 million TL.
Making statements about housing prices, Consumer Confederation (TÜKONFED) President Aydın Ağaoğlu and Torkam Holding Executive Board Chairman Mahmut Dereli made important evaluations.
Ağaoğlu stated that cheap land should be given for the construction of social housing and said that they told TOKİ to take the lead in this matter and that they suggested a ceiling price application for 3 years for rental houses.
Ağaoğlu continued his words as follows:
“Each real estate has its current values, which are registered with the municipalities and determined by the Real Estate Valuation Commission every 4 years. The state has a regulatory and restrictive role regarding basic needs. House prices are out of whack today. When this happens, I say that the public authority comes into play. The return of 1 million Syrians to their country means that approximately 200-250 thousand houses will be empty, and the limit for obtaining citizenship in house sales to foreigners is reduced from 250 thousand dollars to 400 thousand dollars. Because of this, prices can be upside down. There is a fluctuating course at the moment.” said.
“There is a possibility that house prices will come down”
Torkam Holding Chief Executive Officer Mahmut Dereli, in his speech on preventing high rental prices, said, “There are no publicly owned houses in Turkey. Many municipalities and organizations have residences in Germany and France. Because they have these properties, they have control of the market.” said.
Dereli, who attributes the biggest problem in front of supply to the lack of land in metropolitan cities, stated that the purchases and sales have stopped especially for the last 3 months and said, “There is a possibility that the housing prices will come down.” made its assessment.
Gold and Money Markets Specialist İslam Memiş made evaluations by warning home and automobile buyers. Stating that the prices will decrease with the new economic package, İslam Memiş warned, “Wait after the feast”.
Pointing out that there is a risk of recession in the world, Memiş stated that inflation continues to increase and said, “In these conditions, Central Banks give messages in a hawkish tone. In cryptocurrencies, it will be decisive for countries to announce their own digital currencies.” Here are the explanations of Islam Memiş…
DIGITAL BANKING SYSTEM
“I see the establishment of the digital banking system as strong this year. With the digital system, transactions can also be made through banking. It would not be a surprise if it was established by the end of the year. If the states explain their official legislation on this issue, the official digital banking system will be established.
“If you have a project related to agriculture, you can use the Treasury lands. There are areas around Istanbul. These can be rented. It is necessary to look for more systematic solutions in the fight against inflation in food. It would be more correct to bring up the law of state.”
ATTENTION AFTER HOLIDAY
“A wide project will be prepared with zoning, agricultural areas and restructuring in a 2-month period. I suggest that they follow closely the new package to be announced. Especially in the real estate and automotive sectors, there will be statements after the holiday.”
“PRICES WILL DOWN”
Balloon prices have been seen, prices will decrease. There will be a braking mechanism related to the new measures. It is beneficial for citizens who will buy a house and vehicle to wait. Wait until after the holidays.”
The oil and supply crisis that emerged with the war between Russia and Ukraine deeply affected the whole world. While the Central Banks continue to increase interest rates, the eyes of the markets focused on Fed Chairman Powell’s statements today. In the domestic market, the focus is on the Fed’s interest rate decision and the new economic package. Gold and Money Markets Specialist İslam Memiş made evaluations by warning home and automobile buyers. Stating that the prices will decrease with the new economic package, İslam Memiş warned, “Wait after the feast”.