After the increase in the exchange rate and increasing costs, housing production decreased, even 30-40 years old houses exceeded 1 million Turkish Lira ($67,520).
While the citizens could not even dream of buying a house in the face of exorbitant prices, even renting a house became a luxury.
While the average price of a house in Istanbul increased to 1.6 million TL; Even in districts where low-income citizens live, such as Esenyurt, Bağcılar and Sultanbeyli, rents exceeded 4,000 TL ($270) and were based on the minimum wage.
“IF IT IS NOT INTERVENED, SERIOUS DIFFICULTIES WILL OCCUR”
Real estate investment expert Güven Yenisu, "With the announcement of the inflation figures, the rent hike increases in April were also announced. Homeowners will be able to raise a maximum of 29.88 percent. The rate is very high for tenants and very low for landlords. Some landlords, who take advantage of not being able to find a rental home, list the tenants' requests on demand. Rental rate has been announced. Landlords and tenants are brought face to face. If the relevant institutions or organizations do not maintain the order here, unfortunately, serious problems that we have not seen so far will arise on behalf of the real estate sector in Turkey," he said.
“GOVERNMENT NEEDS TO BRING A SOLUTION”
Economist Hatice Kolçak, Head of the Consumer Problems Association Real Estate Commission, "There is a serious housing production problem in Turkey. Due to the problem in the economy, the demand for new project production in the sector is very low. Houses worth 50-60 thousand TL per square meter are being produced, which is beyond the reach of low-income citizens. The demand for a rental home is also high, but people cannot find a rental home. Investors who do not want their money to lose value buy housing and give the house to foreign nationals with an easy rental method. The state has to come up with a solution here," she said.