WHY REALESTATE PRICES AND RENT ARE INCREASING (Istanbul)
Turkey's economy management has been giving tendency to construction economy and this cause delivering sources to consturction sector as a result there is a baloon due to goverment's policies.
Secondly there is black money of Middle East in the market and it is also causing to prices to go up due to artificial demand.
Normally if an economy is not growing much and not producing a lot price must be either stable or fall like it happened to Russia.
In Russia there occoured devaluation and ruble lost value and rent of flat or office fell around 70% from Protected content . In Turkey Lira lost around 40% value in recent 1.5 years. It is also a kind of devaluation but rents in Turkey increased upto 30%. Someone is really playing a funny game with who are renting properities. These properity owners are adding new properities to their portfolio with the rental income they generate. This is other way of capitalism.
There is baloon in the construction economy and aritificial , manuplated prices due to black money and monopol agreements of real estate owners or construction companies. It is really hurting the low or middle income people who does not have house but have to pay rent.
15 years ago an average goverment officer could buy a house in 7 years but now It takes at least Protected content to pay all loan with his salary.
Do you agree or disagree?