Investing in Istanbul where prime locations provide plentiful profits
- Istanbul ranked 20th in PWC’s Emerging Trends in Real Estate Europe 2015 report – Prime locations hold best growth prospects
- District of Beylikdüzü has seen 30-40% growth in rents for furnished apartments in past 2 years
- 6% growth in number of property sales to foreigners in Istanbul in 2014 (TurkStat) – Universal21 offering excellent investment opportunities and range of property management services
Istanbul is a buy-to-let dream. Not only is the population growing at an unprecedented rate but the city is today ranked 20th in PWC’s Emerging Trends in Real Estate Europe 2015 report as a market to watch, with the very same document claiming “Istanbul has a lot of growth potential… Projects are coming alive in prime locations” – and this is certainly true.
The district of Beylikdüzü is one such prime location: upmarket, a shopping haven and a true cultural melting pot, home to increasing numbers of Istanbul’s middle-class population. Beylikdüzü is the symbol of Istanbul’s contemporary transformation: big scale on-going international projects combined with a good infrastructure. It is here that the population has doubled in the last five years and rents for furnished apartments have grown by around 30-40% over the past two, meaning that increasing numbers of savvy investors are looking to this growing location to purchase buy-to-let property.
Adil Yaman, Director of Universal21, the leading property agency in South-West Istanbul, explains more,
“Beylikdüzü is certainly a destination to watch. On the coast, with its own marina, five universities, the largest exhibition centre in the city, three private hospitals and as home to Istanbul’s very best shopping centres, whilst offering an array of choices for luxurious property options and modern resort-style living, it is clear to see why the district has become synonymous with the upper middle-classes, and in turn with amazing buy-to-let potential.”
This growing interest in Beylikdüzü is part of an impressive 55.6% growth in the number of property sales to foreigners in Istanbul in 2014, according to the Turkish Statistical Institute (TurkStat), resulting in a total of 18,959 properties having been purchased by buyers from outside of Turkey. Confidence in the Istanbul market is growing and these figures are on track to grow further still as 2015 unfolds.
In line with this growth, three Istanbul streets are now ranked in the top ten streets in the world for rent increases, as has been revealed in the ‘Main Streets Across the World 2014-2015’ report by Cushman & Wakefield meaning that the city is today well and truly a major player on the world stage of property investment, with buy-to-let investors from a diverse range of regions from Europe to the Middle East and all between, looking to the region to grow their bank balances.
And as more and more eyes turn to this Turkish hotspot, the blossoming figures can be said to have attributed to the healthy growth in Istanbul’s ‘investment prospects score’, according to the PWC Emerging Trends Europe 2015 report, from 3.07 in 2010 to a 2015 figure of 3.4. The local property market is in fine fettle and this is sure to be only the beginning for Turkey’s largest city.
In line with this, the leading property agency in South-West Istanbul, Universal21, have a range of property options in Beylikdüzü for Istanbul residents that make the perfect investment for those looking to purchase for buy-to-let. Not only are the properties of the highest standard, the company also offers a management service that ensures that any rental is simple and profitable. With its proved experience, Universal21 are offering not only a guaranteed rental income, but also an investment opportunity that is flourished with a wide range of professional services that are supported by a British company structure.
Universal21’s Anfa Life Residence, for example, is a masterpiece in construction, with finishes of the highest quality and located in the very heart of the district of Beylikdüzü. With 13 floors of residential apartments, and due to open next month, the development boasts a range of shops as well as an array of excellent facilities on the top floor, including a cinema, Hamam, spa, sauna, health and fitness club, cafeteria and a children’s play area.
Properties span one and two bedroom apartments, each luxuriously planned and taking full advantage of the space. All apartments are beautifully finished with high standard kitchens and granite-style worktops, with sunken spotlights throughout and with stunning bathrooms, ensuring that finishing standards for Anfa Life are one of the best seen in Istanbul, with special attention paid to all details, making them the perfect investment choice. Rental yields are up to 7%, with a 5-year rental guarantee, and prices for one bed apartments start at $102,000, with two bed apartments priced from $163,000.
For more information on this and other investment options in Istanbul, contact Universal21 on 0203 287 8700, or visit www.universal21.com