Investors have turned to commercial real estate investment, the advantage of high income potential and long-term stable income appeals to investors during inflationary periods.
In the inflationary environment that Turkiye is in, investors started to turn to profitable and safe investment instruments.
While there is a decrease in housing sales figures in the real estate sector, which is known as the safest haven in crisis environments and is a reasonable choice in terms of return on investment and profitability, activity continues in branded projects producing commercial real estate.
Ali Emre Bilgic, Member of the Board of Directors of Bilgicler Yapi, stated that especially investors are turning to commercial real estate investment, and said, “High income potential, long-term stable income advantage is attractive to investors in inflationary periods. Office and shop investments also have the advantage of ‘reconstruction’. When you buy a shop or office, each of your tenants rebuilds your property. Instead of being damaged like a house, it is constantly renewed and appreciated.”
“The need for commercial units in Istanbul will continue to increase”
Stating that as long as trade continues in Istanbul, the activity of the real estate sector will not end, Bilgic said, “Although there may be a slowdown in some periods, there will be no slowdown in the construction sector, which is one of the locomotive sectors of the Turkish economy. I do not expect demand to decrease. Istanbul is the heart of trade. We always emphasize the need for renewal of the commercial areas of this metropolitan city. In response to this need, our tradesmen, along with real estate investors, feel the need to renew their business life. They need renovated structures that will speed up our trade and save time.”
Bilgic stated that the commercial units renovated by contractors with no commercial real estate experience do not meet the needs and said:
“When purchasing commercial real estate, attention should be paid to architectural solutions as well as economic points such as depreciation periods. Details such as functionality and post-delivery management in commercial units are important. If purchasing a shop, details such as ceiling height, entry-exit facilities, and storage areas are important; when purchasing an office, advantages from modular architecture to concierge services become important.
For this reason, experienced branded projects are mainly preferred. The design of the AKTIM Bazaar-Office project, the construction of which we started in Bayrampasa, is also made according to the needs. Producing commercial real estate, unlike producing housing, has details that need to be taken into consideration. While square meters, landscaping and social facilities are important in housing, it is necessary to plan many functions at the same time in commercial units.”
Bilgicler Yapi’s latest project, AKTIM Bazaar-Office, consists of commercial units consisting of 322 independent sections. In the project, which is planned to be delivered in 24 months, 23% sales were achieved before the promotion.
Source: Trthaber / Prepared by Irem Yildiz