We need to focus more on proptech

New Generation Real Estate Valuation and Location Analysis Platform Endeksa.com's "Digital Conversations" to share developments in the sector took place on Saturday (December 5th). Tügem Founding Chairman Hakan Akdogan and Bospohorus Invest Chairman Hakan Gümüş made important statements about the real estate sector during the conversation moderated by The Index's Co-Founder and General Manager Görkem Öğüt.

We also offer realized sales value

The Index Co-Founder and General Manager Görkem Öğüt emphasized that the determination of real value in real estate sales accelerates the processes and said that many different values are pronounced for a real estate in the market, so there is a state of uncertainty and The Index solves this problem. "Our users can now enter the value of the sale that took place into the Index. In this way, we further develop our value prediction algorithm and offer it to our users. The automatic value account of the shops and stores we have recently commissioned also contributes very significantly in this field."

"In a year that we thought would be very difficult and difficult for the real estate sector, the credit campaigns made by state banks brought the republic record. We've had some incredibly active days. We lived through times when credit sales, records were broken. Recently, with the increase in loan rates, the real estate sector has again entered a slowdown. As TÜGEM, we have always sent a message that we need to be in sync with real estate technology at the same time as the world. In 2020, we all saw how true this was. Real estate means trust. Trust is formed in the real estate sector with the right information and the right price. If the price is not right, whatever you do, do the campaigns, advertisements you want, if the price of that property is 1 million, it will be sold for one million," he said.

Hakan Gümüş, Chairman of the Board of Directors of Bospohorus Invest, evaluated the developments in the sector in 2020 and underlined that the supply on the housing side has started to fall for the last 2 years and said, "We have been observing a significant decrease in the supply of housing over the last two years. The amount of square meters licensed for construction has dropped from 238 million square meters to 70 million square meters. This, together with the pandemic, caused prices to rise, with loan interest rates falling to 0.65 in June-July. Prices increased by 25 percent compared to the previous year. Student cities, which attracted a lot of attention at one time, experienced very serious difficulties with the pandemic. It experienced 26 percent rent decreases. Coastal areas have increased by up to 30 percent.

On the commercial side, we're alone with an interesting picture. In terms of shopping malls, retailers are having perhaps the most difficult time. The period of re-functioning, re-positioning, re-leasing has begun in shopping malls. In hotels, occupancy rates have dropped by up to 30 per cent. On the office side, there is a smaller orientation from large square meters of offices to smaller offices, and in the city to smaller offices that support each other in the central areas of the city. E-commerce and logistics warehouses have increased significantly. We have seen once again that we have to talk and produce new real estate products. We are starting to think more about new-use real estate such as student dormitories, ready-made tenanted spaces and aged care homes. We've had messages that we need to do a lot more work, we need to produce creative initiatives. We have seen together that we should no longer manage and read real estate by familiar and memorized methods. We understood that we need to focus more on proptech and do more projects."