The President of Istanbul Constructors Association (İstanbul İnşaatçılar Derneği – İNDER) Nazmi Durbakayım stated that the construction sector was in a historical test during 2016 and the sector experienced troubles mainly caused by 15 July coup organized by FETO, the terrorist attacks, unfairly decrease of Turkey’s credit rate.
Durbakayım says, “Sector achieved a great success although all the harsh conditions.” and mentions that sector is at the point of stagnation, but at that point Emlak Housing GYO involved and with the collaboration of Estates and Estates Investment Partnership Association they started a historical campaign saving the sector.
“Right Time for Buying House”
Durbakayım also added that the house prices have been stayed same for a while and no increase has been expected any time soon and for that reason it is a good time to buy a house for living or investment purposes. He also mentioned that they have been expecting a better and stable days in terms of economy in 2017. He said they are planning to invest 2.5 TL in 8 projects in next year and they have started the construction of 3 of them already. Although 2016 was not a good year for the construction sector, Durbakayım stated that they are expecting to achieve the 2015 sales in this year.
Durbakayım says the governments investment in the construction will revive the sector and there will be increase in terms of sales for the houses priced under 500 thousand TL and they have been expecting better days.