Introducing residential property in emerging new Turkish business district

  • High specification, 1, 2, and 3 bedroom apartments.
  • Off-plan and completed development – Opened September 2009.
  • Prices from £27,305!
  • 90% Finance.
  • 10% Deposit Required.
  • 15% Discount.
  • 75% Loan to Value.
  • Capital growth conservatively estimated at 15% – 20% p.a.
  • Excellent rental potential with achievable rental yields of between 8% – 10% on a long term basis.
  • A prestigious residential development in the major corporate centre of Cerkezkoy, a suburb of Istanbul.
  • Designed to provide a luxurious standard of living to young professionals and executives relating to this flagship district.
  • More than 50,000 people work in the area.

Key Points:

  • Excellent location close to the international airport, the Trans European North-South Motorway, and superb fast railway connection.
  • 24 hour security.
  • On site Restaurants.
  • A private school within the development.
  • Shopping Mall, including a 36,000m² Tesco supermarket.
  • Indoor and Outdoor swimming pools.
  • Health and Fitness Suite/Gymnasium.
  • Sports facilities incorporating a Tennis Club and basketball courts.
  • Culture Centre.
  • Business Centre.
  • Cinema.
  • Theatre.
  • 4/5 star hotel within the development with 130-150 rooms.


Why Cerkezkoy, Istanbul?

  • The area is a major corporate centre and tax free business zone encompassing in excess of 600 companies including many blue chip corporations such as Bosch, Sony, and 3M.
  • One of the fastest developing regions of Turkey.
  • 20 minutes to Ataturk Airport, (Istanbul International Airport).
  • 10 minutes to Salivri Airport a new international airport anticipated to complete in 2013.
  • 2 minutes to the Trans European North-South Motorway (TEM) a modern system of motorways and expressways, connecting the Baltic, Adriatic, Aegean and Black Seas.
  • Close proximity to a European high speed rail terminal scheduled for completion in 2010. More than 200,000 people live in the Cerkezkoy area.
  • Accession to the EU anticipated by 2013 (The Turkish Foreign Minister Ali Babacan).
  • HIGH predicted capital growth in Istanbul of 20%-30% p.a. (Source: California Chronicle 22 April 2009).
  • EXCELLENT RENTAL YIELDS anticipated, currently quoted at 6.22% (average) in prime locations. (Source: Global Property Guide 18 March 2009).
  • HIGH INTERNATIONAL INVESTMENT – The International Investors Association (YASED) says Turkey can expect a foreign investment inflow of $15-20 BILLION from 2008 onwards.
  • Turkey is currently attracting around 25 MILLION TOURISTS per annum. (Source: ArticleDashboard.com. 2009)
  • Turkey has the WORLD’S 15th and EUROPE’S 6th largest economy.
  • Widely forecast to become one of the TOP 10 ECONOMIES in the world by 2050.
  • Turkey will require an additional 5.5 MILLION HOUSING UNITS by 2015 to satisfy predicted shortfalls of 500,000 properties per year.
  • In 2007, Turkey launched MORTGAGE PRODUCTS for foreign property purchasers.

Development comprises:

  • 43 properties consisting of: 21 x 1 Bedroom Apartments. 12 x 2 Bedroom Apartments. 10 x 3 Bedroom Apartments.
  • There is a 5 year building warranty on Narin Park. There is a 2 year warranty on internal fixtures & fittings and workmanship.
  • Planning Permission has been obtained. Construction permit No: 246/12.
  • Ave Price/m² 1 bedroom apartment: £637 approx.
  • Ave Price/m² 2 bedroom apartment: £616 approx.
  • Ave Price/m² 3 bedroom apartment: £608 approx.
  • These can vary depending on which rental scheme you wish to adopt. Typically, rental charges are 12% – 15% for long-term lettings.
  • Achievable rental in the area (Long -term): Approximate predicted rental figures as at July 2009:
  • 1 bedroom apartment = TRY 400/550 (£160/£220) PCM – unfurnished/furnished.
  • 2 bedroom apartment = TRY 550/700 (£220/£280) PCM – unfurnished/furnished.
  • 3 bedroom apartment = TRY 700/850 (£280/£340) PCM – unfurnished/furnished.



Why Turkey is considered a prime location:

  • Actual growth in 2005 – 2006: 30% anticipated growth 15% minimum in 2009. Anticipated 20% in 2010. Source(s): Invest Worldwide Ltd, Turkey.
  • Would-be investors can now be assured that they are investing into a nation with a healthy economy and one where the property market holds long-term potential for strong capital appreciation. Turkey represents the best investment opportunity in the overseas market that anyone is likely to find over the next year and a half. Source: GoWealthy 15/02/09
  • Predicted Market Growth: Istanbul property is seeing unprecedented growth, although not the fantastic 85% returns that some investors achieved during 2005/06, capital growth rates of between 20% – 30% are still expected for buyers of both residential and commercial property in 2009. Source: California Chronicles 21 January 2009
  • In their sixth annual report ‘Trends in Real Estate Europe 2009’ financial experts Price Waterhouse Coopers quote Istanbul as being one of the top 3 Eastern European destinations offering opportunities to those looking to make an international purchase.
  • Jones Lang LaSalle state in their August 2008 report that Istanbul will undoubtedly remain the focus of occupier, developer and investor interest for the foreseeable future.
  • The rental market in Turkey is extremely buoyant all year around, a situation which is continually being supported by the Turkish government and the fact that the restrictions on developable land is limiting the availability of high specification apartments and villas. 78% of land in Turkey belongs to the Treasury and therefore cannot be developed.