According to data from the Turkish Institute of Statistics (TUIK), the January 2022 construction cost index rose 15.24% month-on-month and 79.91% month-on-month. Compared to the previous month, the Materials Index increased by 10.12 percent and the Labor Index increased by 33.83 percent. In addition, the material index rose 98.20% year-on-year, and the labor index rose 41.02%.
In Leyla וlhan news from Dünya, rising construction costs have led to higher home prices, while sector representatives have said it is making it harder for the middle class to buy homes. According to data from the Construction Contractors Confederation (IMKON), material prices have risen by an average of 229% over the past year. The ton of rebar, which was 5,500 TL in March 2021, increased by 190% to 16,000 TL in March 2022. From March 2021 to March 2022. Tons of cement increased from 250 lira to 1000 lira with a 300 percent increase, concrete cubic meters increased from 220 lira to 800 lira with a 300 percent increase, and aluminum weight increased from 35 lira to 95 lira. An increase of 171 percent, and a square meter of flat glass, increased from 90 liras to 290 liras with an increase of 222 percent. A representative of the construction sector said companies would reflect the rise due to a decline in supply to home prices.
On the other hand, those who could not buy a new home turned to a second-hand home, and the price of the second-hand home rose. The price difference between new homes and new homes has decreased to 10%. The TUIK figures also drew attention to the increasing demand for second-hand goods. According to the data, second-hand sales accounted for 65.2% of second-hand sales in 2020, but increased to 69.1% in 2021.
House prices will rise further
“Cost of 12,000 lira square meters”
“Cement also causes price increases for many materials,” said Tahir Tellioğlu, chairman of 0054MKON. Construction costs, excluding land, reached 6,000 TL, “the average square meter unit price across Turkey, including land, has risen to 12,000 TL. Two months ago it was at the level of 10,000 TL,” he said. Said. Terioul explained that the Turkish population’s access to housing was 35-40% in 2005, but reached its highest level of 70% in 2014-2016. Now, by the time we reach, we have retreated to the 30-40 percent band, “he said.
“Interest cuts have triggered demand”
Eser Karaismailoğlu, Director of Sales and Commerce at Zingat.com, evaluated pre-owned demand and said: Since then, high-demand sales have narrowed the price gap between old and new homes. The price difference is more in sales than in rent. “
Karais Myrowl said he had tracked the price gap between new homes in early 2021 and said it had fallen to 10 points in December of the same year. About 60 percent in the last year. According to Zingat.com’s historical advertising data, there is usually a price difference of 30-40 percent between new and old structures with the same functionality. Karaismailoğlu said he is following the closing price gap, especially in large cities such as Istanbul and Izmir and in the central districts of these cities.
Karaismailoğlu said that over the past decade, pre-owned and pre-owned home sales for the period 2013-2018 are close to each other: “ As of 2018, pre-owned home share will reach 38% in 2019. , Decreased to 31% in 2020 and 2021. Of course, market dynamics alone cannot explain the narrowing of spreads. Housing during periods of high interest rates, especially when investment-oriented home purchases are stagnant. We know that when demand is postponed and interest rates fall, postponed demand accelerates sales. Housing is for citizens who think interest rates are substantially below inflation and want to invest. , Still an attractive investment tool.
“The stock price goes up with the second move”
Ulvi Ozkan, chairman of the Istanbul Real Estate Brokers Club (0054STEB), said that pre-owned homes built after the earthquake have always been attractive: “Buying old apartments due to accelerated urban transformation and lack of urban land supply. We have more choices and give them to our contractors. ”Ulvi Ozkan said that the price of second-hand goods went up because they were less than the number of second-hand goods in stock. .. This dynamism was manifested by lower market interest rates and excessive rises in exchange rates. Mr. Ozkan made a difference only if direct housing production increased and prices were accessible. Said to be improved.