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    Shift towards cars as property prices rise

    Hürriyet Haber
    14.01.2006 - 13:46 | Son Güncelleme:

    According to results in December 2005 of Mastercard’s customary Masterindex research, while there has been a decreasing interest in housing in the last six months, there is noticeably increasing interest in the automobile sector. The research carried out in 11 provinces around the country, asked 1000 people, “If you were given $20,000, what would you consider investing in?” Of those asked, 23% said they would buy a house, followed closely behind with 21%, preferring to invest in a car.

    On comparing these with results for previous months, it is possible to see a major decline in interest in property investments. Figures dropped from 28% of people who claimed they would invest in a house in June to 23% in December. On the other hand, there is a remarkable increase in people who claim they would “invest in a car” or “put the money aside”. These results are being attributed to an increase in property prices due to the introduction of the mortgage system.

    Women prefer housing

    When the results are studied in terms of gender preferences, it is possible to see that 27% of women would prefer to invest in housing, in contrast with 26% of men choosing the automobile. In addition to this, there is an increasing shift from housing to the automobile as one moves up the socio-economic ladder.

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