Housing shortages in Turkey

The Association of Real Estate Investment Companies (GYODER), which was established in 1999 by the representatives of existing and founding Real Estate Investment Companies (REICs), organizes the Eigth Turkish Real Estate Summit on June 4-5 at the Swissotel Istanbul. Selecting the theme of “Turkey's Real Estate Potential for 100 Years,” members of Turkey's real estate sector will focus on the investment opportunities and the problems of the sector in participation with leading figures from the world's real estate sector during two days in seven sessions of the summit.The economic outlook of the sector, investment environment, shopping mall investments, Turkey's affordable housing project report concerning the need of housing of people with low income, real estate opportunities in tourism, office, logistics and Turkey's cities with real estate potential will be the main focuses of the summit.“We will additionally organize an international real estate fair, which Istanbul lacks considering it is a city having one of the world's greater real estate potentials, within the framework of the next year's real estate summit,” Turgay Tanes, board member of GYODER, told a press conference in Istanbul Monday.“Turkey will face a housing deficit nearly of 700,000 houses within the next 10 years and 20 percent of the families will be able to afford the prices to buy a house. We investigated independently that what kind of financing models should be implemented and how the structural changes can be made in order to help low income people to purchase houses in ‘Affordable Housing: The Need of Housing of Low Income People and the Suggestion of Solutions' report, which will be presented during the real estate summit,” said Emre Çamlıbel, GYODER board member and Soyak General Directorate.

“Turkey's real estate sector has developed within the last three years and it is continuing to grow. We see nothing to fear about concerning the growth of the sector. Istanbul will keep to be the star of the real estate. And also Turkey have a great real estate potential which guarantees the next 100 years,” said Nurhan Azizoğlu, GYODER's vice chairman.