Syrian TV interviews the CEO of Imtilak Real Estate

In an interview on the program (Economic Tuesday), conducted by Syria Satellite Channel, Mr. Bara Badinjki, the CEO of Imtilak Real Estate Company, spoke about the reasons for the rise in real estate prices in Turkey. He said: "One of the most important reasons is the accumulation that occurred before the spread of (Corona) due to the increased demand for buying real estate. The issue of supply and demand is the main factor in the increase of prices."

He mentioned that supply obstacles directly contribute to raising construction costs, and thus property prices, and explained that the rise in energy prices as a result of the Russian-Ukrainian war also played a prominent role in this.

He added, "The interest rate set by the central bank affects prices in one way or another. After the rate reached 12%, investors turned to the safe real estate sector in fixed assets."

In response to a question about citizenship through buying property in Turkey, Mr. Badinjki advised investors to seize the opportunity before the decision changes, as some Turkish decisions and laws do not last for long periods once their purpose is achieved.

Speaking about investment in Istanbul, he added that "the city of Istanbul has a special global economic and commercial significance, so it is considered the best place for real estate investment."

Commenting on the topic of rising home rents, he mentioned that "this is due to the general increase in prices; when real estate prices rise, home rents will inevitably increase as well."

In answer to a question about the best areas in Istanbul for real estate investment, he said: "Of course, the city center is better than its outskirts and suburbs," and continued: "At present, I advise investors to invest in real estate funds because they provide a good opportunity for profit, as their total capital is large, and thus the chance of getting discounts and better prices increases compared to others."