Rising Real Estate Prices Worrying Citizens and Contractors

The increasing real estate prices are worrying not only the citizens but also the contractors as it lowers real estate sales.

SİMDER President: “Increases in Housing Costs Continue”

Gökhan Fatih Aslan, the President of Sivas Construction Contractors Association (SİMDER), evaluates the developments in the real estate market, stating that despite the shift in customer preference towards detached houses after the pandemic and earthquake, sales are not at the expected level due to high costs. Aslan emphasizes that the continuous increase in construction costs and the inability of citizens to keep up with the rising costs negatively affect the sector.

Detached House Prices Reached 8 Million Liras in Sivas

According to Aslan, detached house prices in Sivas have reached 8 million liras. These high prices, being above the level that citizens can afford, result in a lack of expected activity in sales. The absence of favorable credit facilities from banks also leads to a decrease in housing demand.

Aslan states that even citizens with money prefer to invest in interest rather than housing, which has a negative impact on the sector. He expresses that due to high costs, buying a house has become more difficult, affecting all stakeholders in the sector.

Struggling in the Field: Contractors Want Affordable Homes

Aslan mentions that both buyers and sellers are in a difficult situation due to the cost increases in the sector. He emphasizes the high desire of contractors to produce housing at more affordable costs. He states that affordable homes demanded by citizens are the biggest expectation in the sector.

Sivas citizens express that detached houses are more beautiful and secure, stating that they prefer a detached life by moving away from the city center.