The construction sector, which gained great momentum with low housing interest rates in 2020, looks at 2021 with cautious optimism and expects the main upward movement in the second half of 2021.
The construction sector, which started to get over the difficult time in 2019 due to the shrinkage in global economies and high interest rates, at the beginning of 2020, had entered a fluctuation process again with the global health crisis.
The low-interest housing loan campaign provided by public banks sped up the purchases in the housing sector, which produced fewer new projects with the stagnation in the economies in 2020, when the stocks were largely melted. So much so that the year 2020 was recorded as the year when the housing sales record of all time was broken.
For the year 2020, “We started well, we continued with hopes, but we closed with difficulties.” Altan Elmas, President of the Housing Developers and Investors Association (KONUTDER), stated that although it was a difficult year in the economy, it was productive in terms of the melting of housing stocks.
Explaining that they are preparing for a difficult period, especially in the first quarter of 2021, Elmas said, “We have had to suppress real estate prices in 2020. We sold what we produced for a high price, almost without reflecting the costs on the house sales figures. However, the last 6-month increase in commodity prices is worrying us. It will be reflected gradually in the new year. There is an increase in interest rates; Credit sales will decrease, the first quarter will be difficult.”
Noting that they look at the second half of 2021 as ‘cautious optimists’, Elmas continued: “We think that the general balances will start to improve, interest rates will be normal somewhat, and new projects will gradually come up as of the second half of the year. We have a cautious but optimistic outlook for investment. The measures to be taken by the government will also affect our march. If the campaigns that support the purchase can be made from time to time, the losses can be compensated again.”
Real Estate Investment for Ankara residents: Koz Oran
In line with the evaluations that real estate will be the best investment in 2021, Koz Oran; It is one of the outstanding investments in Ankara with its luxurious and spacious apartments, hiking trails, forest views, indoor swimming pool and sauna areas, workshops for children and many other services. In Koz Oran, which increases the quality at the top of the valley, life is experienced at the top.
