Kensington Residence, Istanbul
Location
This completed luxury gated community is located in Istanbul's fast growing suburb of Beylikduzu.
Beylikduzu's growth is due to its proximity to the city centre combined with the benefits of living in a well serviced environment away from the over-crowded city centre.
Price indicators show 30% growth on current projects from off-plan to completion in 18 months.
There is also an acute shortage of rental properties in the area with a high demand from young professionals and university students.
Beylikduzu is Istanbul's newest and fastest expanding town in sports, culture and shopping centres. It is located centrally between Istanbul's Ataturk International Airport, which is 15km away, and Istanbul's proposed third International Airport at Silviri, which is only 10 minutes' drive away.
The nearby seaside area of Buyukcekmece (5 minutes away) is very popular being a favourite day trip and weekend break location. It is dotted with long sandy beaches, restaurants, cafes, nightclubs, parks, a marina, yachting club and modern water park.
Kensington Residence is very close to the E-5 Motorway, Behcesehir exit, providing primary links to the city centre and Europe.
Kensington Residence is within walking distance of the new Metro link which is currently being built and will give quick access to the city centre. It is expected to be completed in January 2012.
Key location benefits:
- 10 minutes from the airport
- E-5 highway 150 metres
- New Metro bus line 150 metres
- TUYAP Fair and Convention Centre 1k
- Close to approximately 15 large shopping centres
- Many universities, schools and colleges close by
Prices:
| 1 bedrooms | £54,000 |
| 2 bedrooms | £94,000 |
Why is Beylikduzu special?
The area of Beylikduzu is an established middle-class neighbourhood with shopping centres, entertainment and sandy beaches all in close proximity.
Beylikduzu is a haven for wildlife and boasts picturesque lakes, forests, picnic areas, horse riding and running trails. This makes the area ideal for all demographics providing an ideal retreat from working life.
Facilities
The development of 1 and 2 bedroom luxury apartments has fantastic facilities including:
- Landscaped gardens
- Outdoor swimming pool
- Fitness centre and sauna
- Indoor Parking
- 24 hour security
- Vitamin bar and cafe
- Nursery and playground
Istanbul
Turkey is now the fastest growing economy in the world - even ahead of China. Foreign investment into the country has increased by 27% this year. As a result, Istanbul, the economic heart of the country, is Europe's number 1 buy-to-let destination and one of the world's property hot-spots.
Why is Istanbul special? Here are a few reasons:
- No.1 city in Europe for capital growth
- One of the world's youngest and most exciting cities
- High capital growth forecast for the next 5 years in excess of 15-20% per year
- Winner of Capital of Culture for 2010
- Current population is estimated at 15 million, increasing by approximately 250,000 a year.
- Turkish Government forecasts the need for 2.5 million new homes by 2015
- Anticipated 500,000 new buyers annually for both residential and commercial property
- New mortgage legislation allows foreigners and locals to borrow, driving prices upwards
- High rental yield with returns from 7%-10%, long local tenants
- One of the world's fastest growing economies with GDP averaging 8% per annum over the last 5 years
- Regional HQ for blue chip companies including Sony Ericsson, Microsoft and Coca Cola
- 8 million tourists in 2010 with 20% increase for Q1 2011
Why invest in Turkey?
- Turkey is among the 10 top investment locations in the world (Financial Times)
- Turkey's credit rating has recently been increased by three financial institutions including Moody's (Bloomberg)
- 15th largest economy in the world.
- Forecast to be top economy in Europe by 2050
- Turkey is expected to become a full member of the EU within the next 10 years
- Current annual housing deficit is 250,000 units required by 2015 (Real Estate Investment Trust)
- 28 million tourists in 2010 (8 million Istanbul). 30 million forecast for 2011
- Third highest portal search as a country on internet for property (Global Edge)
- Capital growth 15-25% per annum
- Rental yields 7%-10% per annum
- Turkey was the3rd highest GDP for 2010 at around 10% and is forecasting 8% for the next 5 years (OECD)
- According to Brookings institute Turkey was the fastest growing city in the world in 2010 (Nuwire)
- First quarter's export in 2011 was 22% up on previous year