Turkey in a period of minimal gains from international real estate, says Mars Investment CEO.

Foreign investors have lost interest in investing in Turkey due to the loss of appetite for investment in the country, economic and political uncertainty, the effects of earthquakes, the reluctance of foreign investors as decided by the government, random changes in bureaucratic and legal regulations, the lack of a transparent and investment-oriented market, the lack of offers such as payment plans and mortgages, and the fact that investor-oriented countries in every aspect, like Dubai, have become leaders, regarding

Bujak noted that foreigners are now interested in Istanbul, Aegean and Mediterranean cities. "The desire to reside in Istanbul has been observed, especially in''central regions and in areas of low earthquake risk. The Mediterranean and Akan regions are also of great interest. Investors with low or high budgets are in the market during this period. Middle class buyers are moving to other competitive countries. Cottages and residential housing have demand," he said.

Bujak pointed out that amid the negative trend in real estate, a positive trend in the industry has emerged due to the demand of a certain group willing to take advantage of residency and citizenship in exchange for investment. He emphasized that Turkey is experiencing a supply problem in the real estate market. He described the situation as follows: "The rising prices of commodities, the impact of inflation on''construction costs as well as problems with labor prices and human resources have come together. There is a situation where the cost of producing a square meter is almost equal to the selling price. An important problem is that the consumer does not have access to credit and credit sales are reduced. Along with reduced demand, the developer's desire to produce supply has also decreased. The construction industry is now in a state of wait and see. This shows that the existing supply has to be assessed against the housing need of the population before new supply is available. One of these strategies has already been implemented in this regard. The minimum deposit for foreigners wishing to reside has been increased to $200,000. DECISION IN FAVOR OF''OVERVIEW This is a positive decision for this industry. Because the benefit to the low-budget investor is much less than the losses caused by price tag fluctuations due to limited supply. So we can improve the quality of foreignreal estate investors and slightly eliminate the supply problem in the industry. "

NEWS OF DECREASE OR INCREASEG/strong> Disclosing whether this change will cause a decline in sales, Budjak responded as follows: "I don't expect a serious decrease in sales due to the deposit restriction for residences. On the contrary, if communication is organized properly in the form of a lodging program, it may even increase sales. In fact, if the restriction requirements were introduced as part of''marking the Turkish Golden Visa rather than increasing the cap, it would be possible to create a new perception of the program. Instead of stopping the process abruptly, a more appropriate solution would be to change quotas and smoothly transition to long-term residency programs such as the Golden Visa. The important aspect of the process is not stagnation or sudden spikes, but programming the work based on defined and clear goals. A better time to make decisions will be when economic indicators begin to improve and interest in investment returns.