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Life Studio Istanbul Deposits from only 19086 GBP greatISTANBUL INVESTMENT APARTMENTS
ISTANBUL APARTMENTS
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| Features: Garden, Pool, Parking | ||||||||||||||||
| Amenities: Shops, Bars & Restaurants, 24 Hour security, Gymnasium, Sea View, Childrens Playground, Sauna | ||||||||||||||||
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Description: Key Features * High Quality development geared towards the local middle class market. * 75% LTV mortgages are available to non-resident buyers meaning a cash investment of ~£8,250 + purchase costs. * Fast Growing diverse economy with considerable growth in industry, manufacturing, services and the relocation of multinational companies. * PWC rate Istanbul as the best location for overall development in Europe and RICS forcasts sustained growth in the Istanbul residential market. * The Developer has a strong track record in the region and is part of the 6th largest company in Turkey. * Cash-flow positive with a 70% LTV mortgage with yields expected to achieve between 7- 9% * Continued Tourism growth fuelled by regular low cost flights. * Year on Year large increases in FDI ~105% in 2006 * Dubai Holdings and Emaar Properties are investing massively in Turkey and Istanbul * Forecasted Annualised return on capital employed ~ 59% Description Where Europe meets Asia has never been strategically more important with the emergence of China and India as global economic powers, Turkey has positioned itself as a logistical centre and Europe’s border. This has led to some pressure on the EU to have Turkish accession accelerated. FDI increased by 105% in 2006 and has increased by over 400% already in 2007. The growth in tourism, manufacturing, heavy industry, services and the logistics sector has established Turkey as a multi faceted economy. This provides considerable economic stability and enables sustainable growth. Location Istanbul is the powerhouse in the Turkish economy, is it widely suggested that it will become a major global business centre when the country is permitted to join the EU. The change in mortgage laws, increased immigration to the region due to the arrival of international businesses and a population of over 12 million make it clear to see why there is a housing shortage in Istanbul. The centre of Istanbul has already reached unobtainable prices for local people, as a result we have focused on areas where the growth is driven by the local market rather than by Investors. The first third of Astrum Towers has been sold to local people. Properties This select development will offer 1285 apartments set in a secure community and offers a higher quality of property than is currently available to the local emerging middle classes. Our forecasting suggests annual appreciation levels averaging somewhere in the region of 20%. Amenities * 330 sqm outdoor swimming pool * Two saunas * Café * Restaurant * Outdoor, covered parking * Basketball courts * Fitness centre with aerobics studio * International Management company—Tishman International Payment Schedule * £500 non-refundable holding deposit upon signing reservation agreement * 30% instalment (less holding deposit) required within 30 days of receiving PSA (and signing of PSA) * 30% of total purchase price payable on completion of the rough construction (est. Apr 2008) * 30% of total purchase price payable upon completion of the building (May ‘09) * 10% upon transfer of the Land Title (estimated 1 month after building completion), What's on Offer? * 1-bed apartment (56m2) ~ £33,000 * 2-bed apartment (80m2) ~ £48,194 * 3-bed Apartment (128m2) ~ £60,580 |
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