Builders want to see dollars and interest

It is claimed that the historic rise in the dollar after the elections can eliminate uncertainty in both the construction and real estate sectors. However, new cost increases and hikes await the sector. The construction sector, which has had difficulty calculating costs due to the suppression of exchange rates for two years, awaits the dawn of a new era with a return to rational policies in the economy.

Hakan Akdoğan, President of the Association of Entrepreneurial Realtors (TÜGEM), said: “For the past two years, there has been pressure on the currency. With this rise, the dollar goes to the level it should be. Undoubtedly, with this increase, there will be cost increases in imported products. In this context, prices in the construction sector may increase. It is necessary to see if the investor would like to produce a new project in this environment”, he said.

Stating that the policies to be followed by Finance Minister Mehmet Şimşek will give an idea of ​​where the real estate sector will go, Akdoğan said: “Will there be a tightening of monetary policies, what will be the interest of the “housing? rates, all this needs to be seen. However, despite the high interest rates, banks do not want to give loans. There are also restrictions on credit taps,” he said.

The waiting period will end

Istanbul Builders Association (IDER) President Nazmi Durbakalım said: “The dollar figure was not correct, everyone already had doubts about it. Therefore, prior to this increase, material prices were calculated at higher exchange rates, not the current exchange rate. There was stagnation in the industry due to uncertain market conditions. The waiting period in the sector will end when the dollar finds the point where it should be. If interest rates get to the point where they should be, we’ll have a more realistic view.”

“If the dollar sees 27 TL, prices will increase by 20 percent”

Using the expressions “27-28 lira are spoken on the dollar exchange rate,” said TÜGEM President Hakan Akdoğan, “While the dollar was at the level of 21-22 TL, the sector had already fixed the dollar at 23 lira and 24 lira. But when it comes to levels of 27-28 lira, there will definitely be an increase in costs. There is also inflation in the country. Inflation, cost increases and this possible increase in the exchange rate they cause real estate prices to rise by 20 percent.