Property ID: 4271851

Price: 4271851 60000.00 GBP

Key Features

Residential Property

Turkey - Istanbul - Istanbul

New Home

Full Description

Benefit from investing in one of the global property investment hot spots - Istanbul.


Completed in January 2011 and key ready, this development is one of the only buy-to-let residences in Istanbul, exclusively available through us, where the investor can benefit from an immediate rental income.


The apartments are fully managed, with a 7% net yield, guaranteed for two years.


70% finance is also available on this property.


The apartments are split over 7 buildings, comprising of 6 floors.


On-site facilities include a swimming pool, fitness centre and sauna, vitamin bar and cafe and children's play area to cater for tenants with families.


Included in your furniture pack is everything down to the last teaspoon, as well as white goods, a plasma television and air conditioning. In addition, you may also use your 70% finance on the furniture pack.


This is a rare opportunity to take advantage of a turnkey investment property in one of the world's most lucrative investment markets. With similar off plan properties in the same area for £;10,000 more, this is certainly the time to benefit from exceptional forecast growth, as well as cash positive income.

Istanbul


Istanbul has all the characteristics of an exceptional property investment market, with PricewaterhouseCoopers ranking Istanbul as the best city in which to invest in terms of new acquisitions and development, a second for existing development.


Turkey's recovery from the global economic downturn has certainly been speedy, with its largest city, Istanbul, demonstrating the most dramatic change.


While the downturn initially prompted property sales in Turkey, (up to 30 or 40% in some cases), the swift turn around explains why Istanbul is one of the leading cities for capital growth, with many properties still undervalued.


For the past few years, Istanbul's population has been growing at an astonishing rate, with an estimated 250,000 new properties now required every year to meet demand. When compared with 39,500 new residents between 2008 and 2009, this rate of population growth truly is astounding. This constant demand for rented accommodation is boosted even further by a large young professional contingent who are not necessarily looking to buy.

According to the Brookings Institute, the city was the fastest-growing city in the world, with 7% GDP growth and 10% employment growth. 55% of all trade in Turkey is generated from Istanbul. In a city where there are so many employment opportunities, particularly in the retail sector (which, according to PwC is promising $5 billion of investment and 135,000 new jobs), it is not surprising that demand for property is outstripping supply.


Not only does Istanbul offer great employment opportunities, and a true European lifestyle, modern residential developments with luxury amenities are becoming the norm. Due to lack of land being available, there are plans to to demolish some of the slums in the city to replace them with luxury residential apartments.


The high demand for housing in Istanbul, with the current low property prices means that rental yields are high - currently between 5 and 8%, depending on location.


Istanbul's economy growth is further enhanced by the relocation of many European Headquarters, and still tourism remains a thriving industry. As Europe's Capital for Culture 2010, there has been investment in the city, which has been instrumental to its current exciting juxtaposition between the east and west.