Author Topic: New Buildings in Uzumlu  (Read 2024 times)

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Offline Denise40

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New Buildings in Uzumlu
« on: August 18, 2011, 09:35:30 AM »
Seems work has started today behind the six Orka Houses with the shared pool, thought to be new Orka builds to join the other Orka houses they can't sell!!



Offline Rindaloo

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New Buildings in Uzumlu
« Reply #1 on: August 18, 2011, 10:14:25 AM »
I wonder what their thinking is.  Dismayed that more building being done, only to stand empty :(

Offline Denise40

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« Reply #2 on: August 18, 2011, 10:26:28 AM »
All these empty properties and just about every other house for sale - doesn't bode well, and pushes prices down, maybe they are thinking of the future, if the land was cheap, if and when things pick up!!!

Offline Woodies

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New Buildings in Uzumlu
« Reply #3 on: August 18, 2011, 12:35:23 PM »
See that this morning Denise. If they are building more, lets hope they build these ones round the right way, with their pools away from the dusty track road!! Mind you, if they do, that will only make the original Orca properties even more unsaleable!

Offline Ovacikpeedoff

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« Reply #4 on: August 18, 2011, 15:46:04 PM »
Building additional houses appears to be crazy if you already have a number unsold. If the land is cheap,the sensible thing to do would be to mothball the building until the market improves.

Offline Firo

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« Reply #5 on: August 18, 2011, 16:06:40 PM »
Ovacikpeedoff...I really can't believe that you have said "sensible" in relation to a Turkish builder...pmsl :-)

Offline Denise40

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New Buildings in Uzumlu
« Reply #6 on: August 18, 2011, 16:36:01 PM »
Well Orka obviously have plenty of money, all off my brother - LOL who paid £4,000 for a whirl pool he didn't want - oh they did the pipework then he changed his mine - (gold pipework)!!!

Offline Ovacikpeedoff

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New Buildings in Uzumlu
« Reply #7 on: August 18, 2011, 22:40:39 PM »
Firo, it is not what I said.what I said was that a sensible business would park the land. I totally agree with you Turkish builders do not come under the umbrella of sensible.

At times, I struggle to understand their mentality towards business as they continue to build houses. The question is who is going to buy these houses.I think the boom time of selling to the Brits is gone and will never return to the levels of the 2005 to 2008 sales.
The current number of houses for sale plus new building can only finish up seriously damaging the housing market.It is the simple economics of supply and demand. When supply exceeds demand prices can only go one way.

A few weeks ago I was in Ireland looking at property and saw houses that were built 4 years ago and have never been occupied. Some are now getting into a state of bad repair. Properties that were on the market at 300k Euros can be picked up for less than 100k Euros. The result being that those who bought at the top of the market are unable to sell their properties to clear their mortgages. Although it is not as bad in Turkey continuing to add to the housing stock for sale will lower prices.

I love the Turks but one of the things I did notice when we lived in Ovacik is that if you offered a Turk a 100TL today or a 1,000TL next month they would always take the 100TL today.
« Last Edit: August 18, 2011, 22:42:54 PM by Ovacikpeedoff »

Offline Scunner

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New Buildings in Uzumlu
« Reply #8 on: August 18, 2011, 23:10:22 PM »
Part of this is the belief that you need to have loads of projects and hundreds of units - this naturally brings "wise" buyers to you and makes them feel warm and safe. Besides that I honestly believe that the huge amount of buildings that continue to be built are no different to the "famous" Calis prom menus. The mentality is that you have to offer everything if you are serious about selling something, or you will end up selling nothing and nothing won't pay the bills. If a customer is lost because they saw something a little bigger, or a little closer to the beach, or whatever it was, the developer must find a plot and build these much sought after slightly larger properties, or must add something closer to the beach because that is what people are buying and if you don't have them you continue to fail to sell ever again. Just like the restaurant manager beating himself up because the two people next door eating chateaubriand would have been eating it in his restaurant if they hadn't dropped it from the menu.

In property terms it is of course total rubbish. You will never sell to each customer anyway and trying to plug the holes in your range is expensive and unnecessary. All that happens is you increase the number of empty units, often built with concrete and steel they still don't own, while using money elsewhere that the bank want back, bringing them ever closer to the fairly predictable abyss. To bring it right round to where this reply started, sadly your average customer in the Fethiye area these days associates company size with stability - at this time a totally flawed and dangerous view.




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