{"id":8882,"date":"2026-02-26T08:43:32","date_gmt":"2026-02-26T08:43:32","guid":{"rendered":"https:\/\/www.mallandmotto.com\/?p=8882"},"modified":"2026-02-26T08:43:33","modified_gmt":"2026-02-26T08:43:33","slug":"turkiye-avm-sektorunde-yeni-donembuyumeden-cok-surdurulebilirlik","status":"publish","type":"post","link":"https:\/\/www.mallandmotto.com\/index.php\/2026\/02\/26\/turkiye-avm-sektorunde-yeni-donembuyumeden-cok-surdurulebilirlik\/","title":{"rendered":"T\u00fcrkiye AVM Sekt\u00f6r\u00fcnde Yeni D\u00f6nem:B\u00fcy\u00fcmeden \u00c7ok S\u00fcrd\u00fcr\u00fclebilirlik"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">T\u00fcrkiye\u2019de AVM sekt\u00f6r\u00fcne ili\u015fkin tart\u0131\u015fmalar uzun s\u00fcredir ayn\u0131 soru etraf\u0131nda \u015fekilleniyor:<br><em>\u201cNeden art\u0131k yeni AVM yat\u0131r\u0131m\u0131 yap\u0131lm\u0131yor?\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu soruya verilen yan\u0131tlar \u00e7o\u011fu zaman talep taraf\u0131 \u00fczerinden okunuyor. Oysa bug\u00fcnk\u00fc tabloyu do\u011fru de\u011ferlendirmek i\u00e7in konuyu \u00f6ncelikle yat\u0131r\u0131m matemati\u011fi \u00fczerinden ele almak gerekiyor. AVM yat\u0131r\u0131m\u0131, k\u0131sa vadeli dalgalanmalardan ziyade uzun vadeli nakit ak\u0131\u015f\u0131, \u00f6ng\u00f6r\u00fclebilirlik ve s\u00fcrd\u00fcr\u00fclebilir de\u011fer \u00fcretimi \u00fczerine kurulu bir yap\u0131 gerektirir.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bug\u00fcn gelinen noktada artan in\u015faat maliyetleri, y\u00fcksek finansman giderleri ve operasyonel harcamalar, yeni projelerin fizibilite \u00e7er\u00e7evesini belirgin bi\u00e7imde daraltm\u0131\u015f durumda. Bu durum yeni AVM yat\u0131r\u0131mlar\u0131n\u0131 \u201cyap\u0131lamaz\u201d olmaktan ziyade, ekonomik rasyonalitesi daha dikkatle sorgulanan projeler haline getiriyor. Perakende taraf\u0131nda b\u00fcy\u00fcme h\u0131z\u0131n\u0131n s\u0131n\u0131rlanmas\u0131 da bu tabloyu g\u00fc\u00e7lendiriyor. Talep tamamen ortadan kalkm\u0131\u015f de\u011fil; ancak yat\u0131r\u0131mc\u0131 a\u00e7\u0131s\u0131ndan bu talebin yeni bir projeyi uzun vadede ta\u015f\u0131yacak g\u00fc\u00e7te olup olmad\u0131\u011f\u0131 art\u0131k \u00e7ok daha se\u00e7ici bir bak\u0131\u015fla de\u011ferlendiriliyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu nedenle sekt\u00f6r, yeni yat\u0131r\u0131mlardan \u00e7ok mevcut varl\u0131klar\u0131n daha verimli y\u00f6netildi\u011fi, d\u00f6n\u00fc\u015ft\u00fcr\u00fcld\u00fc\u011f\u00fc ve g\u00fc\u00e7lendirildi\u011fi bir d\u00f6neme girmi\u015f durumda. Bug\u00fcn yap\u0131lmayan yeni AVM yat\u0131r\u0131mlar\u0131n\u0131 bir geri \u00e7ekilme olarak de\u011fil; sermaye disiplininin ve temkinli yat\u0131r\u0131m yakla\u015f\u0131m\u0131n\u0131n do\u011fal bir sonucu olarak okumak daha sa\u011fl\u0131kl\u0131.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>AVM\u2019lerde yarat\u0131lan gelir ne kadar s\u00fcrd\u00fcr\u00fclebilir?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">AVM sekt\u00f6r\u00fc a\u00e7\u0131s\u0131ndan as\u0131l kritik ba\u015fl\u0131k, yaln\u0131zca yeni yat\u0131r\u0131m yap\u0131lmamas\u0131 de\u011fil. Bug\u00fcn\u00fcn temel sorusu, yarat\u0131lan gelirin ne kadar s\u00fcrd\u00fcr\u00fclebilir oldu\u011fu.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Son d\u00f6nemde perakende taraf\u0131nda \u00f6zellikle baz\u0131 kategorilerde indirim kampanyalar\u0131n\u0131n a\u011f\u0131rl\u0131\u011f\u0131n\u0131n artmas\u0131, sat\u0131\u015f hacmini desteklerken karl\u0131l\u0131\u011f\u0131 bask\u0131layan bir durum ortaya koyuyor. Karl\u0131l\u0131\u011f\u0131 s\u0131n\u0131rl\u0131 kalan perakendeci ile AVM yat\u0131r\u0131mc\u0131s\u0131 aras\u0131nda s\u00f6zle\u015fmesel kira art\u0131\u015flar\u0131 ve yeni kira belirleme s\u00fcre\u00e7lerinde uyu\u015fmazl\u0131k ya\u015fanabiliyor.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u0130ndirimlerle ta\u015f\u0131nan sat\u0131\u015flar, ciro \u00fcretse dahi ciroya ba\u011fl\u0131 gelirlerin sa\u011fl\u0131kl\u0131 ve kal\u0131c\u0131 bi\u00e7imde artmas\u0131n\u0131 her zaman m\u00fcmk\u00fcn k\u0131lm\u0131yor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00d6te yandan AVM\u2019lerin enerji, bak\u0131m, g\u00fcvenlik, personel ve finansman gibi sabit ve ka\u00e7\u0131n\u0131lmaz giderleri, enflasyonun da \u00fczerinde artmaya devam ederken, kira art\u0131\u015flar\u0131, sekt\u00f6r genelinde zorlanan perakendeciler nedeniyle \u00e7o\u011funlukla enflasyon seviyesinde ya da bunun alt\u0131nda kal\u0131yor.. Bu noktada esas konu, ciro \u00fcretmekten \u00e7ok; gelir maliyet dengesini uzun vadede koruyabilecek bir yap\u0131 kurabilmek haline geliyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu tablo, AVM yat\u0131r\u0131mlar\u0131nda gelir maliyet dengesinin art\u0131k daha dikkatli ve uzun vadeli bir perspektifle y\u00f6netilmesini zorunlu k\u0131l\u0131yor. S\u00fcrd\u00fcr\u00fclebilir bir zeminin olu\u015fabilmesi ise ger\u00e7ek\u00e7i kontrat yap\u0131lar\u0131, dengeli ma\u011faza karmas\u0131 ve gelir taraf\u0131n\u0131 destekleyecek istikrarl\u0131 bir ticari performansla m\u00fcmk\u00fcn.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tam da bu nedenle, AVM sekt\u00f6r\u00fc i\u00e7in yeni bir b\u00fcy\u00fcme d\u00f6neminden s\u00f6z edilecekse, bu b\u00fcy\u00fcmenin adresi yeni metrekareler de\u011fil; mevcut varl\u0131klar olmak zorunda. Bug\u00fcn\u00fcn ko\u015fullar\u0131nda de\u011fer yaratman\u0131n yolu, portf\u00f6y\u00fc b\u00fcy\u00fctmekten \u00e7ok, portf\u00f6y\u00fcn derinli\u011fini art\u0131rmaktan ge\u00e7iyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mevcut AVM\u2019lerin yenilenme s\u00fcrecinde; perakendenin ofis, konaklama ve benzeri tamamlay\u0131c\u0131 fonksiyonlarla bir arada kurguland\u0131\u011f\u0131 karma konseptler, hem \u00e7ekim g\u00fcc\u00fcn\u00fc art\u0131ran hem de s\u00fcrd\u00fcr\u00fclebilir ticari yap\u0131lar\u0131n olu\u015fmas\u0131n\u0131 destekleyen yeni bir d\u00f6n\u00fc\u015f\u00fcm alan\u0131 olarak \u00f6ne \u00e7\u0131k\u0131yor. Bu yakla\u015f\u0131m yaln\u0131zca fiziksel bir yenileme meselesi de\u011fil; ayn\u0131 zamanda yat\u0131r\u0131mc\u0131n\u0131n sermayesini daha verimli kullanma refleksi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">T\u00fcrkiye AVM sekt\u00f6r\u00fc bug\u00fcn, b\u00fcy\u00fcmeyi yeni projelerle de\u011fil; ayn\u0131 metrekareden daha fazla de\u011fer \u00fcreterek tan\u0131mlamak durumunda. Benzer \u015fekilde perakendeciler de ma\u011faza adedi veya metrekare b\u00fcy\u00fcmelerinde daha temkinli davranarak; k\u00fc\u00e7\u00fclme, yeniden konumlanma ya da mevcut alanlarda \u00fcr\u00fcn gam\u0131 ve m\u00fc\u015fteri kitlesi uyumuna g\u00f6re daha karl\u0131 ve adet sat\u0131\u015f\u0131 y\u00fcksek modellere y\u00f6nelmek zorunda kal\u0131yor.\u00d6n\u00fcm\u00fczdeki d\u00f6nemi belirleyecek olan da, bu d\u00f6n\u00fc\u015f\u00fcm\u00fcn ne kadar do\u011fru okunabildi\u011fi ve gelir s\u00fcrd\u00fcr\u00fclebilirli\u011finin ne kadar sa\u011fl\u0131kl\u0131 kurulabildi\u011fi olacak.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mert \u00d6r\u00fcc\u00fc<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Sentra Gayrimenkul Genel M\u00fcd\u00fcr\u00fc<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>T\u00fcrkiye\u2019de AVM sekt\u00f6r\u00fcne ili\u015fkin tart\u0131\u015fmalar uzun s\u00fcredir ayn\u0131 soru etraf\u0131nda \u015fekilleniyor:\u201cNeden art\u0131k yeni AVM yat\u0131r\u0131m\u0131 yap\u0131lm\u0131yor?\u201d Bu soruya verilen yan\u0131tlar \u00e7o\u011fu zaman talep taraf\u0131 \u00fczerinden&hellip;<\/p>\n","protected":false},"author":6,"featured_media":8883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_customify_content_layout":"","_customify_sidebar":"","_customify_page_header_display":"default","_customify_disable_header":"","_customify_disable_header_top":"","_customify_disable_header_main":"","_customify_disable_header_bottom":"","_customify_disable_page_title":"","_customify_disable_content_vertical_padding":"","_customify_disable_footer_top":"","_customify_disable_footer_main":"","_customify_disable_footer_bottom":"","_customify_breadcrumb_display":"","_customify_header_transparent_display":"","footnotes":""},"categories":[23],"tags":[],"class_list":["post-8882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-makale"],"_links":{"self":[{"href":"https:\/\/www.mallandmotto.com\/index.php\/wp-json\/wp\/v2\/posts\/8882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mallandmotto.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mallandmotto.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mallandmotto.com\/index.php\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mallandmotto.com\/index.php\/wp-json\/wp\/v2\/comments?post=8882"}],"version-history":[{"count":1,"href":"https:\/\/www.mallandmotto.com\/index.php\/wp-json\/wp\/v2\/posts\/8882\/revisions"}],"predecessor-version":[{"id":8884,"href":"https:\/\/www.mallandmotto.com\/index.php\/wp-json\/wp\/v2\/posts\/8882\/revisions\/8884"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mallandmotto.com\/index.php\/wp-json\/wp\/v2\/media\/8883"}],"wp:attachment":[{"href":"https:\/\/www.mallandmotto.com\/index.php\/wp-json\/wp\/v2\/media?parent=8882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mallandmotto.com\/index.php\/wp-json\/wp\/v2\/categories?post=8882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mallandmotto.com\/index.php\/wp-json\/wp\/v2\/tags?post=8882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}