According to the data announced by the Turkish Statistical Institute (TÜİK), housing sales across Türkiye decreased by 17.8 percent in January compared to the same month of the previous year, reaching 80,308. Veysel Bakgör, Board Member of “GYODER” and Chairman of BAKYAPI, one of the sector representatives, said that the economic and political conditions within the territory of Türkiye clearly show the reflection thereof on the housing sector. Veysel Bakgör, Board Member of BURSA (İGFA) – “GYODER” and Chairman of “BAKYAPI” evaluated the developments in the housing production and construction sector: It seems that the demand of home buyers to have fallen significantly due to the applicable high interest rates, inflation and exchange rates. And, unfortunately, housing producers are forced to increase their prices to cover their costs accordingly. This naturally affects housing sales even more negatively. The stagnating economy is also one of the factors that negatively affects housing sales. As such, the general slowdown in the economy has reduced people's housing purchases for investment purposes. Urgent measures need to be taken to revive the housing sector. First of all, interest rates need to be reduced, housing loan opportunities need to be increased, tax reductions and incentives need to be provided. In addition, making regulations that will make it easier for foreign investors to buy housing will contribute to the liquidation of the housing stock. THE HOUSING SECTOR IS BREATHING WITH URBAN TRANSFORMATION. Also, I think that urban transformation is a great opportunity for the housing sector. Currently, urban transformation projects provide almost all the vitality in the housing sector, especially in metropolitan cities. Urban transformation is an important step for both renewing old and unhealthy housing that poses an earthquake risk and making cities more modern, green and livable. I see urban transformation as a process that will increase both housing demand and housing quality. As “BAKYAPI”, we attach great importance to urban transformation projects and continue to invest in this field. Urban transformation will create a win-win situation for both the country and the sector. I believe that urban transformation projects will become more prominent in housing production in 2024. Housing sales figures are an important indicator that reflects the performance of the housing sector and the economic situation. The vitality of the housing sector also positively affects other sectors. Therefore, solving and supporting the problems of the housing sector is vital for the growth and development of the country's economy.