MERSİN – Anatolia News Agency
Summer home prices usually fall during winter, but in Mersin, southern Turkey, prices took a dive nevertheless. Starting from the city center, a coastline of 321 kilometers until Aydıncık, is full of summer homes for sale, a total of 80,000 homes in 900 compounds, to be precise.
The �Summer Home For Sale� signs, up for months, display the dire situation of home owners and real estate agents.
Linking the fall to political developments, Yavuz Selim Madenli, chief of the Chamber of Mersin Realtors, said investors have �pulled back.�
Another factor for the virtual standstill in sales is rising loan interests. �Prices of summer homes change in accordance with their location and pool parks,� said Madenli. �In a complex with only a pool, a summer home with a 2+1 floor plan is around YTL 45-50,000. A 1+1 summer house built in a compound which includes a pool park is on sale for around YTL 60-70,000.�
Madenli added that he has never seen summer home prices fall so much during summer.
Complaining of limitations on foreigners buying property in Turkey, Madenli said a limited number of houses are sold, but they are sold by the Mass Housing Administration, or TOKİ. �A company which has signed an agreement with TOKİ executes the sale of all property in Turkey. They even develop estates that appeal to foreigners,� he said. �Thus, TOKİ has grasped away the jobs of both contractors and real estate agents.� Madenli also said contractors who cannot compete with TOKİ have stopped development projects.