President Tavukçuoğlu: In popular places like Erenköy, Caddebostan and Suadiye as 15-20 thousand square meters of houses has dropped to 10-15 thousand liras. Melih Tavukçuoğlu, President of the Construction Contractors Association of Anatolian Side (AYİDER), said that the prices which have increased very rapidly due to land costs up to 85 percent in Bagdat Street have been declining for 2 years, "The average 30 percent decrease, in some places exceeded 40 percent", he said.
Tavukçuoğlu explained that the renewal work of 5 thousand buildings is still going on at Bağdat Caddesi and that it is continuing the urban transformation intensively in the region.
Tavukcuoglu stated that the unsold houses are generally small square meters and that there is not much difficulty in selling seaside houses with large square meters and that there is intense competition among the construction firms in Bağdat Street and that the share of the land is increased up to 85 percent, adding that the price was even higher when the rent subsidy was added.
Tavukcuoglu stated that the contractors of Baghdad do not have problems in sales especially in the districts of the region. "Construction companies who do not know the region, do not have a contractor in the past and who have financial difficulties are having problems. The commitment to get more than enough to have the right to get a job caused the housing prices to increase very quickly.", he said
Melih Tavukcuoglu stated that the prices of real estate have increased very rapidly especially in the last 2 years in Istanbul and that the increases have been limited for 2 years,
"Baghdad Street is really important. Turkey's one of the most important locations … Great apartments overlooking the sea in the present, easily sold. However, 85 percent to up very quickly because of land costs In the last 2 years, the prices of apartments in Erenköy, Göztepe, Caddebostan and Suadiye have dropped from 15-20 thousand liras to 10-15 thousand liras in popular locations.