Although the real estate sector, which encompasses many areas such as hotels, shopping malls, offices and housing, is on a periodic upsurge in the world’s development, it is still one of the most attracting areas in many countries.
The main reason for this is the increasing number of retirees each year. As the world’s population grows, the number of pensions paid increases, causing problems for countries. So how can a Turkish person get a house from an easy road?
Market is Good But There is Access Problem
Turkey is not able to provide its own long-term financing with reasonable interest rates. Because it can not provide, sales quotas in the house can not be extended. Only China from developing countries could do it with its own currency yuan. Thus, people in China can have housing in installments such as renting at an annual interest rate of 3 percent. In addition, these interest rates can be reduced in the tax base at the end of the year, even if the payroll is in many countries. This is also an attractive item for home buyers. In Turkey, annual interest rates, which are about 13 percent, are decreasing their home ratios. We can be homeowners with installments like 4 or 5 times of tenancy in 10-year time periods, which causes housing stocks in some regions.
If Interest Rates Drop, Housing Stoke Ends in a Month
At the same time, the General Manager of Eczacıbaşı Real Estate, Orhan Gündüz, who has worked both in the leading financial institutions of the world and also in real estate experience evaluating. This obstacle in the sector of access problem in the housing sector in Turkey says that the annual interest rates in housing loans can be exceeded by pulling them to 6 percent. “If interest rates are offered at 6 percent in a 30-year maturity, it is possible that Turkey will be able to complete the housing stock in a month,” said.