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Astrum Towers For Sale in Turkey - Minimum Cash Investment of Just £8,250 [ SOLD ]  Region: Istanbul  Price: EUR € 47 500  Bedrooms: 1  Property Type: Apartment  Development State: Off Plan

Features: Pool, Parking Amenities: Shops, Bars & Restaurants, In vacation place, 24 Hour security, Gymnasium, In City Description:
* Development : Astrum-Towers
* Country : Turkey
* Completion : Second Quarter 2009
* Minimum Cash Investment : £8,250
* Financing : Available 75% LTV
* Investment Structure : Freehold

Overview:

Turkey is no longer just a holiday destination or a place where people look simply to it’s established coastal resorts for investment. Foreign investment has dramatically increased from $1bn to $8bn in the last two years alone and with China and India emerging as the global economic powers, Turkey is in a position to hugely benefit it’s place on the economic map as the logistical centre and the gateway to the rest of Europe and is poised to become the next major global business centre. With the anticipated accession into the EU, Turkey’s economy is flourishing with the inflation dropping to it’s lowest ever point in over 30 years and a GDP that grew by 6.1% in 2006. Add the fact that Turkey already holds it’s position as one of the top 5 tourist markets in the world and you have all of the trademarks of a great investment.

Project

Name: Astrum Towers
Total Investments: 3500
Minimum Cash Investment: £8,250 + purchase costs for a studio of £33,000

Location

Astrum Towers is located in Büyükçekmece district, a regeneration area just on the outskirts of Istanbul.

Büyükçekmece is a busy town on the Sea of Marmara in the European part of greater Istanbul. It has great bus and ferry connections to the city centre just 30km away and is near the Istanbul International Airport.

The district’s economy is growing rapidly and the infrastructure is developing at a similar pace. There are 4 universities nearby and Büyükçekmece has an established reputation for trade fairs with its local residents working mostly in manufacturing and the service sector.

Investment Structure

Freehold

Completion

Second quarter 2009

Rental Program

The developer has appointed an excellent management company to maintain your investment. They are a highly reputable internationally backed company with a wealth of expertise in managing developments.

Rental yields are predicted to be between 6.75% and 8.25% dependant on the season.

Payment Schedule

£500 reservation deposit
30% upon signing the preliminary contract
30% upon initial construction (April 2008)
30% upon completion (First Phase: May 2009)
10% upon transfer of title deed

Financing

Mortgages are available for all properties on this development

75% Loan to value
Maximum term 15 – 20 years
Maximum loan £250,000
Repayment mortgages only
Rates from 6.9%
No minimum loan

Inclusions

Natural gas central heating
Living rooms featuring natural parquet floors with other rooms being carpet
Built in oven and extractor
Cabinets with either laminate or melamine finish with laminate countertops
Ceramic tiled floors and walls in the bathroom
Heated towel rail, shelf and mirror

Facilities

330sqm outdoor swimming pool
Two saunas
Café
350sqm fitness centre
650sqm basketball court
150sqm aerobics studio
Restaurant
Outdoor and covered parking
Secure development


More reasons to invest in Astrum Towers

With the accession of Turkey into the EU and the launching of the domestic mortgage market in 2008, demand for quality residential property will continue to grow and push prices up.

There is no Capital Gains Tax if you sell the property after 4 years.

Annual capital appreciation is expected to grow by 15 – 30% per annum.

Istanbul has a young and fast growing population with 11 million people increasing the demand for good quality housing.

It is Europe’s largest metropolitan area.

New legislation has been imposed to protect the rights of investors and has reduced the risk and reassured buyers.

Foreign investment has dramatically increased from $1bn to $8bn in the last two years.

With the anticipated accession into the EU, Turkey’s economy is flourishing with the inflation dropping to it’s lowest ever point in over 30 years and a GDP that grew by 6.1% in 2006

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