“Sale Alert: Important Information for Landlords and Tenants”
Real Estate Specialist Mustafa Hakan Özelmacıklı has warned that the extension of the 25 percent hike limit will result in an increase in the number of houses for sale in the future. He stated that the process remains uncertain due to gaps in both practices and legal regulations in the country.
Özelmacıklı emphasized that there has been an increase in the number of advertisements recently due to earthquake risk, but it does not mean an increase only because of rent. He pointed out that there are gaps in legal regulations that have made people afraid to rent out their places, particularly because of difficulties in finding mechanisms that protect owners.
Moreover, Özelmacıklı stated that there are more exits from old buildings, but there is no intense outflow in the real estate market. He believes that this is mostly due to the fear of renting out places and the lack of mechanisms to protect owners.
According to the Central Bank’s Housing Price Index data, real estate has increased by 56.3 percent in real terms. Özelmacıklı also compared the financial investment instruments and revealed that the stock market earns 50.48%, gold bullion 20.54%, and deposit interest (gross) lost 28.47%.
In conclusion, the real estate market may face challenging times in the future due to the extension of the 25 percent hike limit, the fear of renting out places, and the lack of mechanisms to protect owners.
