Interview with Ağaoğlu on Real Estate Prices
Ali Ağaoğlu, who is one of the most important figures, is largest housing developer in Turkey. He is always taking attraction with his remarks. He gave some speech on real estate prices. According to Ali Ağaoğlu, will the real estate prices fall, or not? As you know, these days Turkey has got both political and military problems but despite the hardships we are in, there is no fall in sales of housing. Ağaoğlu said that ‘there are security problems, declining consumer confidence, deteriorating relations but Istanbul is going on growing day by day. There is no recession in sales of real estates. In contrast, we are selling too cheap.’
According to Ali Ağaoğlu, will the real estate prices fall, or not? He said that ‘Location of a house determines the actual price. As you predict it is not possible decline in prices of houses which are close to the transportation corridors. Istanbul is cheap when compared to the similar cities. In fact, we sell Istanbul almost free. Due to the reciprocity law, the interest of the foreigners has increased. Istanbul has both natural beauty and construction advantages notwithstanding the prices are so low.’
According to Ali Ağaoğlu, will the real estate prices fall, or not? No, there is no decline in prices when we think of the situation Turkey in. In contrast there must be increase in prices because the prices of houses are not realistic now. According to Ağaoğlu, we can talk about the rise when the income per capita is 20-30 dollars. But that is not possible today. In addition, he was asked whether they will construct houses for low income people. His answer was clear. Their aim is to build firstly for the people who are low income. In this aspect the state must be forerunner.