Housing Investments 2010-2011
What happened in 2010 in housing areas? What are the expectations from 2011? Is the housing stock already over-supplied or is there still a need? How satisfying are the sales? Which subjects in real estate field are going to be highlighted in 2011?
After the global economic crisis in 2009, especially for A and B grade luxury real-estate projects, regression, re-preparation and wait&see were predominant marketing tactics. Since January 2010, test launches has begun for residence projects targeting A and B segments. In the year 2010, not only for Istanbul city centre but also for surrounding districts, a successful sales graph has been obtained in many projects once Turkey became trusted by the investors. Two reasons stand out regarding the success of sales in 2010; the finance models created by the investors were based on the consumers’ needs and trademarked real-estate developers designed projects that have serious concepts and different added values and in which the habitants are able to live while integrating common use areas with their own living spaces.
We started January 2011 with many geared up projects and in September, with the elections left behind, we are anticipating loads of new projects and inventory. However, recent developments in North Africa and Middle-East may have a negative impact on construction groups, especially those doing business in internal market. This possibility leads potential house buyers to take into consideration the investor’s ability to finalize a project rather than the price-product-location correlation. We expect that the product differentiation in the year 2011 will be consisted of sustainable products which uses the energy more efficiently, controls the consumption, adds a positive value to people’s lives and most importantly, will help us to leave a better world for next generations.
In the forthcoming period, corporations featuring the environment will increase their reputations, buildings emitting inconsiderable amounts of carbon, economizing usage of water, reducing energy consumption, rather short, LEED and BREEAM certificated ones, will become the symbol of their cities and projects consisting of these buildings will be preferred by consumers, who will be proud while living in it.
