Turkey
Richmond House II, Istanbul, Turkey
NEW RELEASE: 10th October 2011
Investment Summary
Designed with resale and rental in mind, the stylish Richmond House II apartment building provides an attractive investment opportunity in the thriving city of Istanbul.
Situated in the desirable Beylikduzu district, the Richmond House II apartments offer modern living and first-class facilities within commuting distance of Istanbul city centre. Istanbul's housing deficit, combined with projected population growth, indicate a strong demand for rental properties of this quality. Financial projections indicate 30 percent growth during the construction phase, based on current comparable projects.
Investment Property in Istanbul
Straddling the border between Europe and Asia, Istanbul is a cosmopolitan city with a thriving economy. Recognised as both an international hub for business and a popular tourist destination, Istanbul offers an exciting investment proposition for overseas property investors.
Demand for housing within the city is rising faster than supply, presenting a lucrative investment opportunity. With the population of Istanbul due to reach 17 million by 2023, the Real Estate Investment Trust Association estimates 250,000 new houses are required each year. The availability of finance combined with the lack of restriction on foreign ownership make the purchase of investment property on Istanbul an attractive prospect.
Richmond House II Apartment Building
Richmond House II is situated within the Beylikduzu district of Istanbul. This modern apartment building has been designed to meet the requirements of the resale and rental markets. With stylish features and open-plan living areas, the 1 and 2 bedroom apartments are ideal for the premium rental market. In addition, Richmond House II boasts exclusive on-site facilities, including a roof-top swimming pool, a fully-equipped gym, crèche and underground parking.
Property Highlights
- Penthouse apartments with superior fittings
- Furniture package available
- First-class on-site facilities
- CCTV and 24/7 security
- Gated community
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Beylikduzu
Superior rental properties in the Beylikduzu district are highly sought after. Its convenient location makes Beylikduzu extremely popular with professionals seeking refuge from the congestion of the city centre. Richmond House II offers commuters the opportunity to live in a quiet residential area, close to vital services and amenities, within 20 minutes travelling distance of Istanbul city centre. Existing transport links will be enhanced with the completion of the new Metro, in January 2012, providing fast, convenient access to the city centre.
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Beylikduzu Highlights
- Quiet residential area
- 150m from E-5 highway
- Excellent transport links
- 10 minutes from the airport
- Local amenities include shops and health centre
- 200m from Eco-park
The Investment Opportunity
Richmond House II offers low-level entry to the thriving Istanbul property market. Pre-release prices start at £56,000 for a one bedroom penthouse apartment on the 14th floor. You can secure this opportunity from £20,680, based on a 30 percent deposit plus legal fees. On completion, 70 percent LTV finance will be available for the balance of the purchase price.
Your investment attracts a three year protected rental guarantee of 7.25 percent. Our financial analysis reveals 30% growth on comparable projects during construction.
The Investment Process
Once you have chosen your property, you will pay a deposit of £2,000 / £3,000 plus legal fees of £700. Contracts will be exchanged within 28 days, at which time you will pay a 30 percent deposit.
We will arrange to have the sales contract and the deposit notarised and registered with the Turkish authorities. On completion of the apartment building, the 70 percent balance (less reservation fee) is due to be paid. You will then begin to receive monthly Guaranteed Rental payments to your account.
Exit Strategy
Comparable projects have produced attractive yields due to the high demand for quality rental properties in Istanbul. Long-term rental agreements provide a stable income stream.
Should you choose to sell your property, financial analysis of similar projects indicate an uplift of 30 percent between off-plan purchase and the completion of construction. Investors can be confident that the local property market provides a verifiable exit strategy. Istanbul has a flourishing first-time buyer market, fuelled by a rising middle-class and low interest rates.
Investment Highlights
- Robust rental market
- Low-level entry available
- Guaranteed 7.25 percent rental per year
- Developer with a proven track record
- Housing shortfall of 250,000 homes per year
- Solid exit strategy
Next Steps
For more information on this exciting overseas investment opportunity, fill out the enquiry form below or call us today on +44 (0)203 287 8727.
We will send you:- A detailed investor report
- Availability and floor plan
- Details of the Guaranteed Rental