Contractors expect increase in home sales to foreigners after elections

Representatives of the construction industry made assessments of the second round of the Presidential Election.

Industry representatives stated that they wanted market movements to stabilize and improve. Construction industry executives also put forward their demands, such as regulating loan interest rates and introducing structural reforms, saying they expect an increase in home sales to foreigners, especially in the Gulf.

‘WE HOPE THAT STRUCTURAL REFORMS ARE INSTALLED’

Erdal Eren, President of the Turkish Contractors Association, stated that they give priority to arrangements and actions aimed at healing the wounds of the earthquake disaster and making the regions at risk quickly prepare for the earthquake.

Eren said: “In the current fragile global environment, steps are needed to ensure predictability in our broader economy, to produce solutions to important problems, and to improve the investment environment.

‘WE EXPECT MOVEMENT FROM THE GULF COUNTRIES’

Noting that domestic and foreign buyers in the housing sector have taken positions for the post-election period, BOSS4 İnşaat Board Chairman Abdülkadir Akkuş stated that the new reforms to be announced have gained importance after this stalled process.

Akkuş said: “Now we must quickly return to the economic agenda. Loan rates skyrocketed. However, credit must be available for new investment and factory opening. I think there will be activity in the housing sector from now on. Urban transformation should be emphasized especially to produce earthquake safe houses” and he said:

“On the foreign investor side, we expect actions from Saudi Arabia, Azerbaijan, Kuwait, Bahrain and the Gulf countries. Neighboring countries should be encouraged to increase home sales. Loan interest rates should not increase due to domestic demand. Otherwise, investments may go into currencies and gold instead of housing.”

‘MARKET MOVEMENTS MUST BE BALANCED’

İhsan Çulhalık, Chairman of the Board of Directors of İnsay Yapı, stated that the imbalance in the markets, especially the high costs, caused the entire segment of society to enter a bottleneck in the process left behind, noted that some companies preferred to curb their investments due to high costs, saying they wanted these market movements to stabilize and improve in the new period.

The Chairman of the Board of Directors of Özyurtlar Holding, Tamer Özyurt, stated that they want the problems experienced both financially and administratively to be resolved as soon as possible leaving the elections behind.

“First of all, we demand that studies be carried out as soon as possible to control the high costs, provide support that increases investments and implement policies that increase production and sales,” he said. (REUTERS, AA, SÖZCÜ)