The institution, which stated that the companies that work on the power of the reason of the tightness in the real estate market are doing a lot of work, made the warning to the contractors to extend their foot according to their duvet. “The institution said,” Everyone has to act according to their measures ”
Residential Real Estate Investment Trust (GYO) General Manager Murat Kuruma came to warn the sector to extend the foot according to the quilt. Speaking at a press conference organized for the sale of Cihan Construction’s Real Estate Housing REIT and the sale of the European Life Project, which will pass on to Bahçekent, the Authority said that the companies that operate on the power of the reason for the livelihood in the real estate market.
According to the newspaper Habertürk, companies that have no equity in the high interest environment are difficult to do business with. “We see companies doing business on power today at the markets. I think that this is the reason for the shortage and the tightness in the market. Now people have to act according to their financial powers, their measures. If one unit has the capacity to do the job, one unit should do the job, not three units, “he said.
MORTGAGE REGULATION REQUIRED
Indicating that mortgage lending in developed countries is given at very low interest rates, the institution said, “We do not have much difference between mortgage and commercial loans. We are discussing the regulation with our ruling against this. Regulations need to be done “. Ağaoğlu Group Chairman Ali Ağaoğlu emphasized that the prices of houses have fallen and the costs have increased in the past week. “There are no bubbles but the contractors who are buying land with very high prices are in trouble”. According to Habertürk, the Turkish Construction Material Industry Association (İMSAD) data for 2013-2017 shows that the increase in production and domestic-foreign sales is less than 50 percent all in all.