by Tuba CANPOLAT
Speaking at the “NEF Investment Talks”, the first of which was held in Gaziantep, real estate company NEF Chairman Erden Timur said that land sales outpaced house sales in the real estate sector.
The first of the “NEF Investment Talks” organized in cooperation with the EKONOMI Daily Newspaper and NEF was held in Gaziantep. In the event, predictions about the world and Turkish economy in 2024, transformation in the real estate sector and developments and expectations in the markets were discussed. The event, which took place in three sessions, was well attended.
NEF Chairman Erden Timur, Chairman of the Board of Directors of EKONOMI Newspaper Hakan Guldag, Chairman of the Editorial Board of EKONOMI Newspaper Dr. Seref Oguz, General Coordinator of EKONOMI Newspaper Vahap Munyar, TOBB ETU Faculty Member Prof. Dr. Fatih Ozatay, Financial Advisor Ali Agaoglu, Gaziantep former MP Nejat Kocer, Gaziantep Chamber of Commerce (GTO) Assembly President Hilmi Teymur, GTO Vice President Taner Ozdurak, Chamber of Architects Gaziantep Branch President Asli Tezel, Gaziantep Young Business People Association (GAGİAD) President Cihan Kocer and many guests attended the meeting.
Erden Timur and Vahap Munyar spoke in the second session titled “Transformation and New Trends in the Real Estate Sector”. Upon a question on declining purchasing power and buying a house with retirement compensation becoming impossible, Erden Timur stated that it takes time for the purchasing power to come back. “The economic problems we are experiencing have exhausted the middle class. In the past, white-collar workers used to be able to buy a house with one person working, but now it does not seem possible even if husband and wife work. We will see the results of the tightening policies in the economy next year. We are a country with no savings linked to financing. It is true that the housing issue has turned into a social issue” Timur said.
“Real estate investment is a very traditional investment reflex for us to protect against inflation” Timur said. Pointing out that they have diversified their product range, there is a huge interest Timur states: “There were 1.4 million land sales in our country this year. More than house purchases. As NEF, the reason we switched to land is to produce accessible real estate.”
“Since monetary policies will continue in the new year, housing sales will decrease even more after the elections” expects Timur.