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Kalangi house became popular – Tejaratnews


According to Tejarat News, the latest survey of the land market situation in the capital shows that the property of Kalengi is said to have found “gold”. In recent weeks, in some areas of Tehran and significantly in the northern half of the city, the demands of the builders to identify the Kalangi property in order to start new constructions have gone out of the common and usual form and have come to the walls of the city.

Before this, generally sellers and intermediaries active in the land market based on the usual routine used more than anything the capacity of filing in the virtual space and offering real estate ads online.

Risk aversion of the owners of the houses in Kalgani

Field research about the quality of this story shows that because the most risk-averse group of active members of the housing market are the owners of houses that can be demolished and renovated, these people are due to uncertainty about the future of housing prices, the state of general inflation and its effect. On the real estate market, the uncertainty of the exchange rate in the future, and in a word, because of the inflationary expectations that are affected by the conditions, they prefer not to enter into any form of real estate transaction or demolition and renovation project.

But why are the owners of Kalangi properties considered the most risk-averse active group in the housing market? The answer is clear; The age parameter of the general population of the slum dwellers has caused this degree of caution and risk aversion. Many of the owners and residents of Kalangi properties in different parts of the city are in the elderly age group, and as a result, it is not surprising that in a market where even middle-aged people make every type of real estate decision with great care and caution, the risk aversion of the elderly is higher.

The land market is in recession

But the fact that the land transaction market is in one of its most stagnant times, as acknowledged by the builders and intermediaries, is not only caused by the behavior of the actors on the supply side. Although the supply side has sunk into recession and avoids transactions, the builders, as the second main player in the construction market, do not have the conditions to enter into land transactions.

In other words, after the reluctance of land sellers, the secondary cause of stagnation in this market is the inability to buy land from builders. The level of the offered prices of the few available land files in the housing market is so high that it is not wrong to apply the adjective “outlier” to most of them considering the price levels common in the transactions until three, four months ago. There are many professional builders who, despite the generally unfavorable conditions of the housing market and the construction investment market, still tend to work in their main profession, construction, but these people prefer to advance new projects with low payment.

In other words, due to the rapid growth of land prices, builders are often willing to participate, and these days, few people are willing to buy Kalangi property with the aim of starting construction. Instead, this group’s request from the builders in the housing market is the cooperative implementation of demolition and renovation projects, which there is no desire on the supply side. With this description, the behavior of the two main actors in the Kalangi real estate market is completely opposite to each other and this trend has marked the condition of the land market in the form of a deep recession.

Worried about the builder’s inability to finish projects

In addition to the two factors that were discussed, there is another obstacle against the start of the demolition and renovation projects of Kalangi properties. This factor is the “fear of construction projects ending up nowhere” and in other words, the concern about the builders’ inability to complete construction projects.

In recent years, under the influence of the inflation of construction materials, some builders had problems in completing the ongoing construction projects and could not complete the work according to their commitments in the predicted schedule, which is generally a maximum of two years for small-scale construction projects (four to seven floors). get results

The jump in the price of construction materials started in 1998 and this process continued until the point in 1401 that the price of some commonly used materials changed daily. This situation caused the accuracy of the estimates of construction project implementation costs by some construction market participants to decrease, and some of them could not provide the necessary liquidity to complete the various stages of the project implementation.

Delay in the delivery of construction projects is not something that is far away from Kalangi property owners. Of course, they are aware of the difficulty of builders’ work in the inflationary conditions of the economy, and they know that according to the economic conditions, it is not unlikely that some builders will get stuck in the swamp of material inflation and will not be able to get out of it easily. The smoke of this situation will go directly to the eyes of the participants, i.e. the land owners, and for this reason, even the desire to participate in the construction investment market has been minimized.

In the past one or two years, professional builders designed a solution of “clearance with material sellers” to keep their business alive, in the sense that they paid the cost of providing expensive and high-consumption main materials through clearing units under construction with material sellers. This solution, however, is only relevant for the purchase of materials and cannot facilitate a constructive relationship with the supplier of the main housing input, i.e. “Kalangi land and property”. To start a new construction project, you must either purchase a property or enter into a partnership agreement with the owner.

The function of evangelist in the participation market

The promise of glad tidings to Kalangi real estate introducers is not a new thing and it has already happened in the market before. But the fact is that before this issue was discussed only verbally and informally between some intermediaries active in the land and real estate market.

This is despite the fact that now even citizens who can weld such contracts are invited to the game and will earn. Of course, the prevalence of this phenomenon is more in the northern areas of the city, and the fever of participation is not so high in the south of the city; Because the price level of land in the south of the city is more balanced compared to other areas.

As real estate brokers say, another function of this type of evangelism is to satisfy the disgruntled owner in a multi-owner building. For example, sometimes in buildings without elevators, the owners of the ground or first floors do not show much desire to demolish and renovate, and their opposition prevents the participation of the project. Meanwhile, in order to satisfy the disgruntled owner, the mediators may sometimes pay him more than the normal payment as good news and get his consent to conclude the contract.

The origin of the difference in the ratio of “land to housing”

Reliable statistics on land prices in different areas of Tehran or the city average in general are not available, but field research and the review of a large number of files available in search engines for real estate ads, as well as conversations with land market activists in Tehran, indicate a remarkable growth in land prices. within the last three months. The offered prices that are now announced in May by the few Kalangi real estate sellers in the real estate transfer market are much higher than at the beginning of winter last year.

But even the real estate brokers admit that there are not many transactions at these price levels, and sometimes they state that since the beginning of the year, even two Kalangi transactions have not been completed with their mediation. They say that it is not important for the sellers of newly built units to be able to sell their property in a short time; They offer the highest possible price and then enter the long-term waiting phase, and even if a deal doesn’t happen, it doesn’t matter to them.

However, after this, the examination of the price difference between the proposed sales of slum properties and newly built apartments in different areas of Tehran provides an estimate of the “ratio of land price to housing” by different regions and neighborhoods, the analysis of which can depict the difference in the housing market situation in North, middle and south areas of Tehran.

Source: the future

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