Canal Istanbul Warning to the Investors

Canal Istanbul Warning to the Investors

Canal Istanbul and the third airport had positive effects on the real estate market of Arnavutköy, Küçükçekmece and Başakşehir. Those who have real estate on the canal Istanbul's announced route are now waiting to see which path they will follow. Experts also warn speculators and opportunists who own real estates or who want to make investments in the region.

Harmoni Real Estate Appraisal and Consultancy Inc. Board Member / Responsible Valuation Expert Levent Caner Yüce has some recommendations for the potential investors of the region . Emphasizing that the research must be done well in order not to make loss, Yüce points to the importance of waiting for the right time.

Levent Caner Yüce stated that they made an analysis focusing on the Canal Istanbul and the Third Airport areas and we see that the customer demand and the sale speed of the districts such as Arnavutköy, Başakşehir and Küçükçekmece have increased, however, besides this; it has become an open market for speculation." Saying that they are aware how these types of investments activate the regions, Yüce stated that, "The important point is to be able to be located in the right place at the right time. With the clarification of the projects, we anticipate that the rate of regional investments will increase in the following periods. According to our humble opinion for the people or groups who tend to invest in real estate of these regions, they should do a good job of exploring the market situation and analyzing whether income they expect to achieve in the future is an investment instrument for present value."

Declaration on the Zoning Peace

Levent Caner Yüce also made statements about zoning peace. He stated, “Zoning peace presents us mainly to points. First is preparation for the natural disaster risks (registration of structures incompliant with the license and its annexes) and the second is aiming at participation of the idle properties in the country's capital and market movements. If the conditions foreseen until the end of the month are fulfilled, the application can be made. At the end of the year, if the registration fee is paid, they can get the Building Registration Documents. "

"The fact that the property, the building class and the group and other aspects of the immovable property and the property subject to the application will be recorded on the building registration system prepared by the Ministry on the basis of the statement given by the building owner unfortunately presents a number of question marks. The registration fee, which will be taken as 3 percent for the residences and 5 percent for the commercial areas over the sum of the approximate cost values ​​determined by the Ministry of Environment and Urbanization by the property tax value determined according to the Law on Property Tax of 13/19/7/1970 dated 1319, Together, we believe that the creation of a system based on the basis of the declaration is beneficial in reviewing the situation. It is thought that the real estate market will change according to the ability of zoning peace to be applicable. We hope that zoning forgiveness experiences experienced in the past period will be used in zoning peace and with good planning and without implementation delusions. "

Housing Market Stagnation

Levent Caner Yüce also noted the stagnation in the housing market. He said, "We call it market value free from speculative and manipulative movements, to analyze this situation well and to adopt the right understanding in order not to repeat the mistakes made in the past. Since real estate is now regarded as an important means of investment, research and value appraisal based on economic values are of greater importance than in past periods.”

Yüce continued: "The costs of investment instruments, the detection of buyer population and the detection of market depth are the main focus points of realistic pricing. As an added value to the recognition of real estate as an investment instrument, we can see that it is a form of asset that can be used as collateral, which can accompany the development policies of the operator If we pay attention to the income of real estate investments from past to the present. In Turkey the rate up to about 20-25% of the current market conditions demand a reduction in the valuation report, we can say that this stagnation partly explains. We should particularly mention that if household incomes can be increased, we think that real estate investments and therefore the real estate market will present a positive effect on the country's economy in a very short time. "

How to Set Shop Prices in Grand Bazaar?

Levent Caner Yüce, Assistant General Manager of Harmoni Appraisal, also made statements about price valuation studies for historical and special constructions. He emphasized how the prices of shops in historical and tourist attractions such as the Egyptian Bazaar and the Grand Bazaar should be determined. Yüce has paid attention to the importance of real estate valuation expertise and analysis are in particular for the Egyptian Bazaar and the Grand Bazaar.

He shared the following information: "In our inquiry as of today, we can see that the transactions are made between the prices 23.000 TL / m² and 235.000 TL / m². As valuation specialists, we do not think it is very accurate to specify unit value, despite our very intensive trading volume in the areas mentioned. The areas we are talking about are traditional retail areas of Istanbul. Each street in the Grand Bazaar has its own separate commercial circulation and the unit values ​​vary greatly depending on the location of the shops located in the street. The efficient use area, the frontier, the pedestrian profile and the population stand out as the main elements of this valuation. For this reason, we know that special properties of these types of real estate, which are located in the conscious buyer market rather than overwhelming the trade ground with misleading information, should pay special attention to their particular characteristics. From the general information in this age, we have lived in, detailed views and predictions have gained importance. For this reason, in the recommend that the property reports on this profile be separately prepared. "

38 Thousand Reports from Harmoni

Levent Caner Yüce pointed out that the real price of real estate has been determined according to various criteria and emphasized that Harmoni has published 38 reports in this scope.

Pointing out that Harmoni Real Estate Appraisal and Consulting Company has 70% of the 38,000 reports it has made during the fiscal year of 2017 is about the housing appraisal. "Our company constantly uses statistical data and updates institutional memory of each region in every transaction. Of the reports prepared during the year, 70% of them were prepared for housing use and the remaining 30% were prepared for the reporting of commercial real estate."

Harmoni Real Estate Appraisal and Consultancy Inc Canal Istanbul
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