Sirius Yapı Chairman of the Board Barış Öncü:
AN INTEREST-RATE CUT WOULD STIR INVESTORS
If an interest-rate cut happens in June, activity could return to the housing sector. A correction movement had started in the sector up to March and continued until mid-March. Construction and related sectors experienced a revival during that period. However, this momentum stopped in April and May.
From a sectoral standpoint, we are currently in a time when sales should be at their peak. In fact, February through June is the most active period in real estate. Yet, because of rising inflation and higher interest rates, the market is very sluggish. There is a general expectation that a rate cut is needed starting in June. If interest rates are lowered, the market’s orientation toward housing will begin again.