Will Rents Decrease? Is it logical to buy a house and “What Are Experts Saying”?

We are in a critical period for those planning to buy property. How does the difficulty in accessing housing loans, high interest rates, and rising property prices affect investors? Will rents decrease? Is it logical to buy a house? Here are the evaluations of experts: Will Rents Decrease? Is It Logical to Buy a House? What Are Experts Saying? Down below are some opinions shared by experts in the sector.

Millions of citizens are exploring ways to become homeowners due to rising rental rates. However, buying a house for investment is becoming more challenging. Those looking to purchase a second home are only given a credit of up to 22.5% of the property price.

According to an article on Hürriyet.com.tr; Due to high property prices, down payments have also increased. For example, those looking to buy a second home for investment need to make a down payment of 3,875,000 TL for a 5 million TL property.

LOW-INTEREST LOANS WITH 1.20 PERCENT ARE ANTICIPATED

There is an expectation of a new campaign. Low-interest loans are planned to be provided for those buying a house for the first time. The anticipated interest rate is 1.20%, and the maximum term will be 180 months.

So, what will happen to rents? Experts state that they do not expect a decrease in rental prices. Furthermore, the high interest rates are having a negative impact on the housing market.

BUYING PROPERTY UNDER CURRENT CONDITIONS MIGHT NOT BE A WISE CHOICE

The President of the Istanbul Real Estate Brokers Club, believes that buying property under current conditions is not a wise choice. On the other hand, the chairperson of Helmann Board of Directors, who says they do not anticipate a drop in property prices, explains that recent policies and rising interest rates are slowing down demand in the housing market.

PROPERTY PRICES MAY NOT DECREASE IN TL TERMS

An expert recommends purchasing properties for residential purposes, while the chairman of the Istanbul Chamber of Commerce (ITO) Real Estate Services Professional Committee, states that property prices will not decrease in Turkish Lira terms.

In summary, there are many uncertainties and question marks regarding property purchases. According to expert predictions, there is no expectation of a decrease in rental prices, and property loan rates are not attractive under current conditions. Those planning to invest in real estate during this period should carefully evaluate market conditions. (TG)