Rising housing prices and rents have changed the priorities of young people. Owning a home is now considered important to young individuals. In Istanbul, one in three people is afraid they will face housing problems in the future.

Low interest rates in previous years resulted in a rapid increase in housing prices. Due to high inflation, production could not be carried out at an adequate level.

The Housing Developers and Investors Association (KONUTDER) and Istanbul University conducted a joint study.

According to the study, 34% of Istanbul residents are afraid of facing housing problems in the future. KONUTDER President Ramazan Kumova said, “Looking at the last five years, we see a gap in meeting the need. Our production, which corresponds to 650 thousand, has remained in the 450 thousands. A shortage of 200 thousand units in Istanbul. When all these factors come together, rents jump and people become uneasy.” In 2019, owning a home was fifth in the priorities of young people. It has now risen to second place after career planning. The main reasons for those without a home buying plan are high loan interest rates, house prices, and inadequate income… Kumova, who states that housing prices need to decrease, said, “On the other hand, there should be an income payment method. Currently, it seems like we have handed over the production for narrow housing only to TOKİ. We believe that TOKİ will increase production by collaborating with the private sector. The key point, of course, is the decrease in land prices.” According to the research, 72 out of 100 young people say “I would give up expenses such as clothing, entertainment, and vacation if suitable payment conditions are provided.”