The North of Izmir is on the Radar of Real Estate Investors

The North of Izmir is on the Radar of Real Estate Investors

Erkaya İnşaat Chairman of the Board Doğan Kaya stated that Koyundere and Ulukent on the northern axis of İzmir, which have solid ground after the earthquake, have been in high demand recently.

Kaya said that after the opening of the Izmir – Istanbul highway, the northern axis with a highway connection in Izmir, which also attracts the attention of investors from outside the city, which was preferred for life.

Noting that as Erkaya İnşaat, they continue their investments with the Erkaya Life, where life is about to begin, and the Erkaya Twins projects, which are under construction, Doğan Kaya continued: “Both of these projects brought significant returns to the investors. Life in our Life project will begin as of next month. We will have completed the rough construction of our Twins project by the beginning of the year. Construction is progressing faster than we planned. Currently, we have completed the sale of 90 percent of the apartments in Erkaya Twins. We plan to deliver the keys by the end of 2023. As Erkaya İnşaat, we increased the value of the region with the investments we made in the Koyundere region. The region is in demand due to its ease of transportation and its proximity to Dikili and Foça Çandarlı regions. Currently, we are building houses in that region with the quality of the buildings in Bostanlı. We have a trust-based communication with all our customers for years. Confidence is very important to us. There are many people who come from outside of the city and buy flats safely by searching us on the internet and looking at the references we have made. This makes us proud”

PROFITABLE INVESTMENT OPPORTUNITY

Noting that Erkaya Life and Twins projects offer a profitable investment opportunity, Kaya said,

“Twins investor has made a hundred percent profit this year. When the project is completed, this rate will reach 200 percent. Real estate is the most profitable investment instrument in every period. Investors rely more on real estate than foreign currency and gold during this period. For this reason, Erkaya Twins attracts the attention of investors from outside the city. İzmir has an important potential. Currently, the demands for living with a private garden have increased a lot due to reasons such as pandemics and earthquakes. We want to make our new project as villas with gardens, with a green landscape and a spacious atmosphere, by the sea. We continue our discussions on this issue,” he said.

LOW INTEREST LOAN REVITALIZES THE MARKET

Stating that the increase in the input cost in the construction sector slowed down the housing production, Doğan Kaya said that the citizens should have the opportunity to obtain low-interest loans in order to buy new housing.

Kaya continued his words as follows: “In order for the sector to accelerate and the balance of supply and demand to return to normal, public and private sector banks need to provide appropriate credit opportunities for citizens. Currently, many contractors avoid investing because they can’t see the way ahead. In the last year, our input costs have increased by 400 percent and continue to increase. As the construction industry, there is an imbalance of supply and demand. Homeowners also raise prices on their own. Unfortunately, an increasing price in our country does not return to its former level. During the pandemic period, the way for exports was opened a lot, companies gave goods to the foreign market to make more profit. There were also problems with the supply of goods. At the moment, we are almost faced with European prices for inputs. Despite all this, we will continue to invest in different regions in İzmir to the extent of our strength.”