The Pandemic Has Chanced Housing Preferences

We can see certain major events that have caused changes in housing preferences in the real estate sector in the past years. The recent earthquakes in our country, especially the Marmara earthquake in 1999 have become a milestone that caused us to leave behind many habits including the legal basis of housing projects. Laws and regulations have changed, belief in the solid house concept has increased, and thus urban transformation has accelerated. The title of being earthquake resistant that was written on top as a priority before the pandemic has become stronger after the pandemic, especially due to the adoption of a concept change, by having the reasons for new preferences.

So what has changed in our lives during the pandemic? The process that started with lockdowns and restrictions brought to light the fact that houses are not only a need for shelter but also an environment where they can spend time. The homeworking system has become widespread. Online processes have reduced the need to be located in city centers. Demand for horizontal architecture has increased.

A process, which those especially reside in crowded provincial centers and have the opportunity to work remotely started to migrate to the rural areas or reside both winter and summer in their summer houses, and the demand for the residentially-zoned lands of the seaside regions including mainly the Mediterranean and Aegean regions and migration from cities has begun to increase. In the past, houses were places where we rested and gathered as a family rather than being living spaces; during the pandemic, shortcomings in homes were noticed. The balconies were getting to be considered too small. It was recognized that there was no garden for fresh air. In this process, people started to seek houses with gardens and balconies that are intertwined with nature. This increased the demand by about 235%. With the increasing demand, there were significant increases in the prices of projects and areas that could produce projects in regions suitable for this style.

More time was being spent at home due to the fact that 90% adaptation of many companies to the home-working system. Concepts that can be turned into a working environment with a single touch have become preferred. Multi-houses, that is, projects that combine both home and office concepts, have managed to attract the attention of white-collar workers in particular. For this purpose, construction companies made changes in their project concepts, created health committees, and tried to understand people’s priorities in the new period. Well, what were the priorities of the “Healthy home” concept that came to the fore in the researches of these committees; “Houses need to have an elevator, however, houses should have the height that can be ascended on foot in case residents wish to do. Houses should have a garden, if not a terrace, or have a balcony in the size of a room. Houses should be close to the forest. Houses should be built in such a way that they can absorb natural air, and the houses should be planned according to the 2019 earthquake regulations.’’

The real estate sector is one of the country’s economies that mobilizes 430 sub-sectors. The reduction in loan rates in the scope of the decision to combat the pandemic in the middle of 2020 created an opportunity for both project producers and citizens, who change their preferences, to use these preferences. The rate of moving increased by 43% especially in this period compared to previous years.

These concepts and changes in preference that are mentioned above have caused price increases up to 60% in Mugla and 45 % in Antalya compared to 2020 and prolonged rental depreciation periods. It is predicted that these increases will continue to some extent in 2021.

As the valuation sector, the process regarding the reflection of this demand on the values ​​and regional analysis is closely monitored. Our services continue with valuation reports for our citizens who want to see the changes by obtaining consultancy or having special reports and to reach the right value against those who try to carpetbag in regions where the demand is increasing.

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