Real Estate

Ozak Chairman Akbalik: Second-hand houses will sell a lot in the short term

Saying that there has been a limited growth on the supply side in the real estate sector for the last few years, Ozak Group of Companies Chairman Ahmet Akbalik said, “The second-hand houses will sell a lot in the short term. The increase in housing has not yet been reflected in second-hand prices. Between 2021 and this year, there is a 30-40% increase in the first 3 months. There will be many more by the end of the year. Because there is no supply, there is demand.”

Stating that there will be a large amount of investment in the urban transformation area, Akbalik said, “Due to the opportunity to work remotely and the increase in housing prices, both workplaces and employees have turned to the southern regions. The government’s regulation of this with certain regulations enables reverse migration to be managed better. In which region there is a need for housing or which region is desired to be encouraged, appropriate facilities should be provided for that region. Thus, housing developers focus on that area. However, the focus is unfortunately not on the needs, but the land is formed wherever it is.”


Stating that they have new investments in tourism, Akbalik also said that they will turn the Ela hotel brand into a chain. Akbalik conveyed his new plans in the field of tourism as follows: “Our new focus is tourism, and we are taking steps towards branding here. With an investment of ₺400 million, we will make operational and systemic changes at Ela Excellence Resort Belek and host our guests with brand new concepts. We will invest in 5 resort hotels in the medium term.”


AHMET Akbalik said that they will build a deluxe tourism complex appealing to the high-income group on 345-decare land in Bodrum Akyarlar, an 800-bed-capacity resort hotel targeting the middle-upper-income group on a 163-decare land in Didim Altinkum, and a 500-bed-capacity resort hotel in Demre.

Source: Sabah / Translated by Irem Yildiz

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