FEasibility study
Chair of Architecture & building process prof. sacha menz
Research & analysis of the turkish real estate market
This study focuses on analyzing the economics, financing strategies of an apartment building project in Fenerbahçe district in Istanbul, Turkey.
The project process started with planning in late 2015 and the construction finished in early 2018. This building was built under the “urban renewal” laws and it replaced an existing building.
This project was financed by a construction company and the existing residents had no part in financial costs. This study aims to observe the effects of the fluctuating foreign currency exchange rate ratios (such as USD/TL & Euro/TL) as well as the effects of the interest rates on the real estate market over the duration of the project. Consequently, the study analyses the profitability of the project as a whole.
The research done in this paper about the Turkish construction sector and real-estate market provides an opportunity to get an insight about how a country in a different stage of development than Switzerland functions regarding its construction industry and real estate market. The history behind Turkeys unique situation is of great importance to understand the current crisis with the Real Estate Bubble and its effects on the Turkish market.
