Katar\u2019\u0131n en b\u00fcy\u00fck gayrimenkul yat\u0131r\u0131m \u015firketlerinden Mazaya Qatar\u2019\u0131n \u00dcst Y\u00f6neticisi (CEO) Hamad el-Hedfa\u2019n\u0131n a\u00e7\u0131klamalar\u0131 ile gayrimenkul yat\u0131r\u0131m fonlar\u0131 tekrar g\u00fcndeme geldi. Haberde Global Menkul De\u011ferler Y\u00f6netim Kurulu Ba\u015fkan\u0131 Erol G\u00f6ker\u2019in T\u00fcrkiye\u2019ye inan\u0131lmaz bir ilgi oldu\u011funu, buraya nas\u0131l girilece\u011fine ili\u015fkin bir yol bulamad\u0131klar\u0131 i\u00e7in pek \u00e7ok sermaye grubunun uzun s\u00fcredir beklemede kald\u0131\u011f\u0131n\u0131 art\u0131k bu yollar\u0131n a\u00e7\u0131lmaya ba\u015flad\u0131\u011f\u0131n\u0131 ifade etti\u011fi belirtiliyordu. \u0130ki \u015firketin stratejik i\u015f birli\u011fi anla\u015fmas\u0131 sonucu kurulacak olan \u201cT\u00fcrkiye\u2019nin ilk uluslararas\u0131 gayrimenkul yat\u0131r\u0131m fonu\u201d \u00f6zelli\u011fini ta\u015f\u0131yacak fonlar, K\u00f6rfez yat\u0131r\u0131mc\u0131s\u0131na, do\u011frudan sat\u0131n almalar\u0131n d\u0131\u015f\u0131nda ilk kez g\u00fcvenirli\u011fi y\u00fcksek bir finansal enstr\u00fcman arac\u0131l\u0131\u011f\u0131 ile T\u00fcrkiye gayrimenkul sekt\u00f6r\u00fcne yat\u0131r\u0131m olana\u011f\u0131n\u0131 da sa\u011flayacak deniliyordu.<\/p>\n
TU\u0130K \u015eubat 2016 Konut Sat\u0131\u015f istatistiklerine g\u00f6re T\u00fcrkiye genelinde konut sat\u0131\u015flar\u0131 2016 \u015eubat ay\u0131nda bir \u00f6nceki y\u0131l\u0131n ayn\u0131 ay\u0131na g\u00f6re %7 oran\u0131nda artarak 101 703 oldu. Toplam konut sat\u0131\u015flar\u0131 i\u00e7inde banka kredisi kullan\u0131m\u0131 veya in\u015faat \u015firketlerinin konutlara ipotek koyarak yapt\u0131klar\u0131 ilk el sat\u0131\u015flarla olu\u015fan ipotekli sat\u0131\u015flar\u0131n pay\u0131 %29,9 olarak ger\u00e7ekle\u015fti. Yabanc\u0131lara yap\u0131lan konut sat\u0131\u015flar\u0131 bir \u00f6nceki y\u0131l\u0131n ayn\u0131 ay\u0131na g\u00f6re %15,8 artarak 1 585 oldu.<\/p>\n
Ancak bu art\u0131\u015f\u0131n mevcut stoklar\u0131 eritmeye yetip yetmeyece\u011fi tart\u0131\u015fmal\u0131. Son y\u0131llarda yay\u0131nlanan sekt\u00f6r raporlar\u0131n\u0131n hemen hepsinde stok say\u0131s\u0131ndaki art\u0131\u015f\u0131n talebin \u00fczerinde oldu\u011fu ifade ediliyor. Bu stok art\u0131\u015f\u0131 ve talep dengesizli\u011fi bir konut balonuna i\u015faret etmese de \u00f6nemli bir g\u00f6sterge.<\/p>\n
T\u00fcrkiye M\u00fcteahhitler Birli\u011fi (TMB) Ocak ay\u0131 raporunda 2015 y\u0131l\u0131 de\u011ferlendirilirken 2016 y\u0131l\u0131n\u0131n zor bir y\u0131l olaca\u011f\u0131 vurgulanm\u0131\u015ft\u0131r. Raporda in\u015faat sekt\u00f6r\u00fcn\u00fcn 2010 ve 2011 y\u0131llar\u0131ndaki h\u0131zl\u0131 y\u00fckseli\u015fin ard\u0131ndan 2012\u2019de durgunluk ya\u015fand\u0131\u011f\u0131, 2013 y\u0131l\u0131nda \u0131l\u0131ml\u0131 bir b\u00fcy\u00fcme ger\u00e7ekle\u015fse de 2014 ve \u00f6zellikle 2015 y\u0131llar\u0131 sekt\u00f6rde ve ekonomide yakalanan b\u00fcy\u00fcmenin kaybedildi\u011fi bir d\u00f6nem g\u00f6r\u00fcn\u00fcm\u00fcnde oldu\u011fu ifade edilmektedir.<\/p>\n
T\u00fcrkiye \u0130n\u015faat Sanayicileri \u0130\u015fveren Sendikas\u0131 (\u0130NTES) Mart 2016 \u0130n\u015faat Sekt\u00f6r\u00fc raporuna g\u00f6re \u201c2015 y\u0131l\u0131nda bir \u00f6nceki y\u0131la g\u00f6re belediyeler taraf\u0131ndan yap\u0131 ruhsat\u0131 verilen yap\u0131lar\u0131n bina say\u0131s\u0131 %12,3, y\u00fcz\u00f6l\u00e7\u00fcm\u00fc %16,4, de\u011feri %11,4, daire say\u0131s\u0131 %15,5 oran\u0131nda azalm\u0131\u015ft\u0131r\u201d. Ayn\u0131 rapora g\u00f6re \u201c2015 y\u0131l\u0131nda bir \u00f6nceki y\u0131la g\u00f6re belediyeler taraf\u0131ndan yap\u0131 kullanma izin belgesi verilen yap\u0131lar\u0131n bina say\u0131s\u0131 %12,0, y\u00fcz\u00f6l\u00e7\u00fcm\u00fc %6,6, de\u011feri %0,3, daire say\u0131s\u0131 %6,0 oran\u0131nda azalm\u0131\u015ft\u0131r.\u201d \u0130n\u015faat sekt\u00f6r\u00fc g\u00fcven endeksinin 82,82\u2019e d\u00fc\u015ft\u00fc\u011f\u00fc belirtilen raporda bunun gerek\u00e7esi al\u0131nan kay\u0131tl\u0131 sipari\u015flerin mevcut d\u00fczeyinin\u201d mevsim normallerinin \u00fczerinde oldu\u011funu de\u011ferlendiren giri\u015fim y\u00f6neticisi say\u0131s\u0131n\u0131n azalmas\u0131 olarak g\u00f6sterilmi\u015ftir.<\/p>\n
Sekt\u00f6r raporlar\u0131nda ortak vurgu ise kamu yat\u0131r\u0131mlar\u0131 ile kentsel d\u00f6n\u00fc\u015f\u00fcm projelerinin piyasay\u0131 canl\u0131 tutaca\u011f\u0131 y\u00f6n\u00fcndedir. TMB raporunda \u201c3. k\u00f6pr\u00fc, 3. havaalan\u0131 gibi mega altyap\u0131 projeleri ile yeni k\u00f6pr\u00fc ve otoyol projelerinin olu\u015fturaca\u011f\u0131n\u0131; ayr\u0131ca s\u00f6z konusu projelerle tetiklenen yeni konut ihtiyac\u0131n\u0131n \u00f6nem kazanaca\u011f\u0131n\u0131\u201d vurgulanm\u0131\u015ft\u0131r.<\/p>\n
Yani \u00f6zetle sekt\u00f6rdeki sorunlar\u0131n \u00e7\u00f6z\u00fcm\u00fc i\u00e7in konut talebinin s\u00fcrekli canl\u0131 tutulmas\u0131 ve finansmanda ya\u015fanan sorunlar\u0131n giderilmesi i\u00e7in yeni olanaklar\u0131n yarat\u0131lmas\u0131 gerekiyor. Finansman a\u00e7\u0131s\u0131ndan birinci \u00f6nceliklerden biri faiz oranlar\u0131n\u0131n d\u00fc\u015f\u00fck tutulmas\u0131 iken y\u0131llard\u0131r dile getirilen di\u011fer husus ara\u00e7lar\u0131n \u00e7e\u015fitlendirilmesi. Bu ara\u00e7lardan biri de gayrimenkul yat\u0131r\u0131m fonlar\u0131. 2012 y\u0131l\u0131nda y\u00fcr\u00fcrl\u00fc\u011fe giren Sermaye Piyasas\u0131 Kanunu ile ilk defa yasal olarak tan\u0131mlanan gayrimenkul yat\u0131r\u0131m fonlar\u0131na ili\u015fkin esaslar 2014 y\u0131l\u0131nda yay\u0131nlanan tebli\u011f ile belirlendi.<\/p>\n
Gayrimenkul yat\u0131r\u0131m fonlar\u0131n\u0131n temel amac\u0131 gayrimenkullerin, menkul k\u0131ymet haline getirilmesi olarak \u00f6zetlenebilir. Portf\u00f6y y\u00f6netim \u015firketleri ve sadece bu i\u015fi yapacak olan gayrimenkul portf\u00f6y y\u00f6netim \u015firketlerinin kuraca\u011f\u0131 bu fonlarla, yeni bir yat\u0131r\u0131m arac\u0131 yarat\u0131l\u0131rken sekt\u00f6rde yeni bir finans kayna\u011f\u0131n\u0131n olu\u015fturulmas\u0131 hedefleniyor.<\/p>\n
Kurulacak olan gayrimenkul yat\u0131r\u0131m fonlar\u0131n\u0131n toplam de\u011ferinin en az %80\u2019inin gayrimenkul yat\u0131r\u0131mlar\u0131ndan olu\u015fmas\u0131 zorunlu tutuldu. Gayrimenkul yat\u0131r\u0131mlar\u0131 ise arsa, arazi, konut, ofis, al\u0131\u015fveri\u015f merkezi, otel, lojistik merkezi, depo, park, hastane ve benzeri her t\u00fcrl\u00fc gayrimenkul olabilecek. Fon Y\u00f6netim \u015eirketleri bu gayrimenkulleri sat\u0131n alabilir, satabilir, kiralayabilir, kiraya verebilir ve sat\u0131n almay\u0131 veya satmay\u0131 vaad edebilir. Fon portf\u00f6y\u00fcne al\u0131nacak her t\u00fcrl\u00fc bina ve benzeri yap\u0131lara ili\u015fkin olarak yap\u0131 kullanma izninin al\u0131nm\u0131\u015f ve kat m\u00fclkiyetinin tesis edilmi\u015f olmas\u0131 zorunlu tutulmu\u015ftur. \u015eirketlerin gayrimenkul projelerine yat\u0131r\u0131m yapmas\u0131na ise izin verilmemi\u015ftir. Yine \u015firketlerin yurt d\u0131\u015f\u0131nda gayrimenkul al\u0131m, sat\u0131m ve kiralama faaliyetinde bulunmalar\u0131na izin verilmemi\u015ftir.<\/p>\n
EYG \u015firketi Haziran 2015\u2019de gayrimenkul fonu kurmak i\u00e7in ilk izni ald\u0131\u011f\u0131n\u0131 duyurmu\u015ftu. D\u00fcnya Gazetesi 6 Temmuz 2015 tarihli haberinde de kurulu\u015f ve\/veya faaliyet izni alan Gayrimenkul Portf\u00f6y Y\u00f6netim \u015eirketlerin listesini \u015fu \u015fekilde verdi :<\/p>\n
Omurga Gayrimenkul Portf\u00f6y Y\u00f6netimi A.\u015e. (http:\/\/www.omurgacap.com\/)
\nEYG Gayrimenkul Portf\u00f6y Y\u00f6netimi A.\u015e. (http:\/\/www.eygportfoy.com\/index)
\n24 Gayrimenkul Portf\u00f6y Y\u00f6netimi A.\u015e. ( http:\/\/24gpy.com )
\nArz Gayrimenkul Portf\u00f6y Y\u00f6netimi A.\u015e. ( http:\/\/arzportfoy.com )
\nAlbaraka Gayrimenkul Portf\u00f6y Y\u00f6netimi A.\u015e. (http:\/\/www.albarakagpy.com.tr\/)
\nBayraktar Karde\u015fler Gayrimenkul Portf\u00f6y Y\u00f6netimi A.\u015e. (http:\/\/www.bayraktar.com\/tr\/faaliyet-alanlari\/gayrimenkul-portfoy-yonetimi )
\nKalender Gayrimenkul Portf\u00f6y Y\u00f6netimi A.\u015e.(http:\/\/www.kalenderportfoy.com.tr )
\n(http:\/\/www.dunya.com\/finans\/yatirim-fonlari\/haute-couture-fonlar-icin-7-sirket-kuruldu-267831h.htm)<\/p>\n
Bu \u015firketlerce hen\u00fcz gayrimenkul yat\u0131r\u0131m fonu kurulamad\u0131. Ancak fonlar\u0131n kurulmas\u0131n\u0131n ard\u0131ndan \u00f6zellikle K\u00f6rfez sermayesinin yo\u011fun ilgi g\u00f6sterece\u011fi ifade ediliyor. Beklentiler bu y\u00f6nde iken ger\u00e7eklerin nas\u0131l olaca\u011f\u0131n\u0131 da zaman g\u00f6sterecek.<\/p>\n
Katarl\u0131 i\u015f adam\u0131 Hedfa, \u201c\u0130stanbul\u2019a yat\u0131r\u0131m yapan bir yat\u0131r\u0131mc\u0131n\u0131n kaybetmesi m\u00fcmk\u00fcn de\u011fil. \u00c7\u00fcnk\u00fc bir tane \u0130stanbul var. Orta ve uzun vadede mutlaka kazan\u00e7l\u0131 \u00e7\u0131k\u0131lacakt\u0131r.\u201d demi\u015f ve \u0130stanbul\u2019daki gayrimenkul fiyatlar\u0131n\u0131n Avrupa\u2019daki bir\u00e7ok metropol\u00fcn gerisinde oldu\u011funu eklemi\u015f. Do\u011fru olabilir ancak gayrimenkulun fiyat\u0131n\u0131 belirleyen unsurlar\u0131n \u00f6nemli bir k\u0131sm\u0131n\u0131n o gayrimenkulun nas\u0131l bir ya\u015fam \u00e7evresinde konumland\u0131\u011f\u0131 ile do\u011frudan ilgili oldu\u011funu hat\u0131rlatmakta yarar var. H\u00fck\u00fcmet taraf\u0131ndan belirlenen ve in\u015faat sekt\u00f6r\u00fc taraf\u0131ndan da desteklenen politikan\u0131n ne kadar ba\u015far\u0131l\u0131 y\u00fcr\u00fct\u00fcld\u00fc\u011f\u00fc kadar uzun vadede elde edilecek toplam faydan\u0131n ne olaca\u011f\u0131 da tart\u0131\u015fmaya a\u00e7\u0131k. Gayrimenkul talebinin canl\u0131 tutulmas\u0131 i\u00e7in \u00fcretilen kamu projeleri do\u011fal alanlar\u0131n tahribat\u0131na neden olurken ve arsa elde edilmek i\u00e7in kamusal alanlar tek tek sat\u0131lm\u0131\u015fken \u0130stanbul o Avrupa metropolleri ile nas\u0131l yar\u0131\u015facak?<\/p>\n
Nuray \u00c7olak \/ \u015eehir Planc\u0131s\u0131<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Katar\u2019\u0131n en b\u00fcy\u00fck gayrimenkul yat\u0131r\u0131m \u015firketlerinden Mazaya Qatar\u2019\u0131n \u00dcst Y\u00f6neticisi (CEO) Hamad…\n","protected":false},"author":2,"featured_media":40571,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4689],"tags":[],"class_list":{"0":"post-20476","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-secki"},"acf":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/eonmeet.com\/pol\/wp-json\/wp\/v2\/posts\/20476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eonmeet.com\/pol\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eonmeet.com\/pol\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eonmeet.com\/pol\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/eonmeet.com\/pol\/wp-json\/wp\/v2\/comments?post=20476"}],"version-history":[{"count":0,"href":"https:\/\/eonmeet.com\/pol\/wp-json\/wp\/v2\/posts\/20476\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eonmeet.com\/pol\/wp-json\/wp\/v2\/media\/40571"}],"wp:attachment":[{"href":"https:\/\/eonmeet.com\/pol\/wp-json\/wp\/v2\/media?parent=20476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eonmeet.com\/pol\/wp-json\/wp\/v2\/categories?post=20476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eonmeet.com\/pol\/wp-json\/wp\/v2\/tags?post=20476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}