With balmy spring-like weather for most of January, the Istanbul real estate scene for 2015 is off to a zippy start. Lilimont has been keeping busy with a handful of transactions, as well as a few renovation projects and our proffessional services for foreigners (these will both be discussed in future blogs).
As global currencies seem to be flying all over the place, often unpredictably due to strong intervention by central banks, it often means great buying opportunities for investors, with property in Istanbul coming at discount prices.
Perhaps another driver has been the absence of bad news. It is a curious thing that often this is enough to float markets higher. You often do not always need really good news to push real estate in Istanbul forward and bring life to the market.
So, in short, it has been a good start to the year, but we will continue to keep the pulse and offer regular updates to followers. Of course activity also means that new sellers often enter the market, sensing that it is the right time to sell.
We have several new properties, but I would like to focus on two in particular, owned by the same couple, who are moving on to what is often termed Istanbul’s sister city, Berlin. Anyone familiar with the art scene here will know that there are deep and growing connections between the artistic communities in both cities and it has become de rigeur for young local artists to do a stint in Berlin, and many are opting for longer stays due to the lower cost of living.
The first property is located just 50 meters from the Osmanbey Metro, making it incredibly convenient and central. It is on a quiet side street in a very well- maintained building.
A two bedroom, 120 square meter in immaculate condition, ideal as a rental property. The list price is 300,000 euro, and with the dip in the currency, the price has really come into its own. The renovation style is universally appealing, a perfect blend of the contemporary and the classic.
The second property is located on a quiet side street in flourishing Aynali Cesme. This first floor flat has all of the classic features; high ceilings, wood floors, exposed brick, and hand made Turkish tiles, all at the tempting price of 200,000 euro. It is also in a building that is well taken care of and organized, and in an increasingly prime location.
Perhaps the enterprising individual could obtain both of these properties, providing an excellent foothold in the Istanbul market. Contact Lilimont for viewings!