Underlining that they have completed the year 2016 with a profit rate above their targets, Emlak Konut REIT General Manager Murat Kurum; “In the year 2017 and after, our untendered land size of TL 5,5 billion will be among our plans to develop projects in the various provinces of Istanbul and Anatolia and to purchase new land and new tender plans. In addition, we will launch our projects with the receipt of new construction permits. ”
How did the real estate sector spend the year 2016 and what were the major developments that affected the sector in 2016?
The year 2016 was a year when the data flow for Turkey was very fast. After the coup attempt on July 15th, all actors from all walks of life were able to work together and strive quickly to revive the market and to reach the previous pace in a short time. As you know, Real Estate in the real estate sector as Housing; We have achieved quite successful results with the campaign “We are Believing in the Future of Our Country” which we started with the aim of preserving the vitality of sales and contributing to economic dynamism. The sales model we put into practice during this period inspired the sector. With this campaign, house buyers have the opportunity to borrow directly from Real Estate Housing, without having to use a bank loan, with a down payment of 20 percent, a 120-month expense, including Revenue Sharing projects. In addition, the option to pay the borrowing rate indexed to or with 0.7 percent monthly maturity was also very advantageous for home buyers. As a result of this campaign which was very successful for us, we sold only about 2,500 independent sections in August and signed a significant success. As I mentioned before, the other actors of the real estate sector have implemented the similarity of the campaign we have successfully implemented in their own projects.
Do you expect foreign investment to increase in the real estate sector in 2017?
Since 2012, when the law governing the sale of property to foreign citizens enters into force, foreign buyers and foreign investors have an intense and growing interest in Turkey. Together, the demand for Turkey from the Gulf countries, especially Istanbul, continues to increase. The recent announcements of the leading companies in the sectors and fairs that are held in order to keep the industry alive both at home and abroad show that the interest and demand for the middle and upper income group projects made in Turkey by foreign investors and home buyers are in demand. We are convinced that Turkey will continue to grow as the safe haven, the housing sector will continue to grow in Turkey, and the quality standards of the high quality projects will continue to grow and the interest of foreign nationals to Turkey will continue to increase.