Erdal Albayrak / Chairman of the Board, Albayrak Beton:
“There is movement in the sector, but not at the level we want”
According to TURKSTAT data, housing sales in the first five months of the year increased by 17.6 percent, reaching 130,025 units. In the January–May period, total sales rose by 25.4 percent compared to the same period last year, and mortgaged sales surged by 95.9 percent. Although these figures indicate activity in the sector, they are not at the desired level. As we have always emphasized, the path to homeownership and boosting housing sales under current conditions lies in using housing loans. Loan utilization must be increased, which means reducing housing-loan interest rates to accessible levels. As of the end of May, mortgaged sales accounted for only 14.9 percent of total sales—a relatively low share. During the interest-rate reductions in January, February, and March, the number of housing loans taken out increased. This shows that prospective buyers take action when they see even a slight downward shift in rates.
Cihat Algün / Chairman of the Board, Algün:
“Purchases are being made before prices rise further”
Looking at the latest figures, we see that the upward trend in Turkey’s housing market continues. The noticeable activity in mortgage purchases on the domestic market indicates increased confidence in the sector and confirms that real estate remains a safe haven for investment. Over the past few years, our costs have risen dramatically, yet we have not fully reflected these increases in selling prices—this is a transition period. Recognizing the current price levels during this transition, homebuyers are acting before prices climb higher; they move decisively and seize opportunities to purchase.