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Elite Park - Istanbul

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Elite Park, Istanbul – Turkey. Luxury 520 unit development with swimming pool. Perfect investment property. Call us now for full investment report. Pre launch prices of 212 units from €598 per m2 to just €795 per m2. One bedroom 89m2 apartments just £49,000!

Elite Park Images Click images to enlarge Copyright © 2006 jet2let Ltd   ^ top

The Development

Elite Park is a high quality development comprising 520 1, 2 and 3 bedroom apartments. They are incredibly good value with prices from £49,000 for a large 89m2 one bedroom apartments. All 1 and 2 bedroom apartments include fully fitted kitchens and bathrooms and an underground parking place. 3 bedroom apartments include fully fitted bathrooms and a kitchen (excluding appliances) and also an underground parking place. They are being built to a very high quality specification and a western finish. The development will have a swimming pool, underground parking, 24 hour security, a fitness centre with sauna, Jacuzzi, steam room and gym and a children’s pool. The apartments are due for completion in December 2008. Due to changing demographics 1 and 2 bedroom apartments are increasingly in demand. Turkey has a population where 70% of its citizens are younger than 35 years old. Finance is available and will allow investors to leverage for higher capital gains. ^ top

Why Istanbul?

There is new confidence about Turkey from both institutional investors and from the Turkish people. Turkeys’ population of 73.9m (approx) is forecast to exceed 76m by 2010. The population growth of Istanbul is estimated at 2.0% per annum. Official estimates of the Istanbul population is put at 11.3m people although most believe it to be around 15 million. The demand for housing shows no sign of abating – officials in Turkey estimate that there will be a need for 7 million new homes in Turkey over the next 10 years. Half of this increase is attributed to the need stemming from an increasing number of households, while 1 million comes from migration to urban areas and 800,000 from renewal needs. Urban transformation will contribute to the need for a further 1.5 million new homes. Istanbul is estimated to have a housing shortfall of 250,000 due to huge numbers of people moving from the countryside to the city for better salaries and prospects. Lending for housing has been very low and is expected to double from around $20bn to $40bn by 2010-2011. Istanbul has very strict planning regulations – always good for capital appreciation prospects. Mortgages will become available from 1st January 2008. Up until then only expensive home loans have been available. It is forecast that the current high interest rates will come down and the availability of cheaper finance will drive prices higher as the increasing number of middle income Turks aspire to home ownership. It is expected that home ownership will increase from 4.5% currently to 13% by 2015. We believe the availability of finance will give the market considerable impetus in 2008 and 2009. Turkey’s economy has been growing at 7.4% in 2006 (2005: 8.2%) and is expected to have GBP growth of around 5.3% in 2007 and 5.5% or more in 2008. Istanbul’s growth has led to record numbers of businesses establishing a base so we are seeing many professionals seeking to buy and rent in the city. The ever growing student population also means a large rental pool. Political stability with the landslide election of the AKP government has given to large international investors the confidence to complete high value transactions for Banks. ^ top

The Development in detail

Elite Park, in the Beylikduzu district of Istanbul, is located on the European side. This spacious and popular suburb, around 30km west of the centre is a government Designated Growth Area in the new Istanbul metropolitan master plan 2006. Ataturk International Airport is 25 minutes away by car. Facilities include supermarkets, a cinema and two shopping complexes. The elevated position on high ground gives some fine views extending as far as the Marmaris. Elite park is close to 4 universities which makes it ideal for renting to students and is within 3kms of Tuyap, Turkey’s biggest exhibition and business centre. In the same area, there are 500 to 1,000 m2 prestigious villas overlooking a nearby lake which sell for more than 700,000 Euros. Recent investor visits to the site commented on the high build quality from the Elite Park constructors which was demonstrated by their recently completed project less than 5 minutes walk from Elite Park. Permission has now been given by Beylikduzu Municipality to go on with the Green Valley Project designed to be constructed all along a line of 4.5 km and located very close to the Elite Park project in Beylikduzu. The Green Valley, designed almost as an “urban oasis”, is divided into 6 areas according to functional and characteristic properties. The area offers a wide range of opportunities for entertainment, recreation, accommodation as well as artistic, scientific, cultural and social life. Within the context of the project, it involves water show areas, flower parterres, open air exhibition areas, car parks, play ground for children, a pond designed as an artificial brook, picnic areas, craft and trade area, pools, kiosks and restaurants, university facility area, tourism and recreation sites, amusement park, office for education of people, and even a skiing center planned to be constructed by a Russian investment company. The project is based on a structural construct and concept of design which incorporate natural and local materials with a special emphasis on open grounds in line with its original architectural structure and landforms. Elite Park dwellers will benefit from clean air as well as social and cultural facilities offered in the Green Valley in addition to all facilities of the main project. The nearby sailing marina is also being upgraded, and will include a planned fast sea bus commuter service to the centre of Istanbul and a new, high-speed train/metro link is currently being constructed and will connect Beylikduzu to Istanbul centre and the underground system and the planned completion is 2011. The nearby D-100 motorway into the city centre and the TEM Highway have been upgraded, further reducing journey times into the city centre. Elite Park is 4km from the sea bus terminal and sea transport enables a commute into both the European and Asian sides of Istanbul without roads. Value for money is important, so we would encourage you to request a copy of the investment report below. Please bear in mind that the report was completed a year ago and most professional valuations are pitched some 5.0% under market value to be on the conservative side. We therefore are pleased to have secured these units at around a 15% discount to market value. ^ top

Floor Plans

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Investment Report

Please register for Free Independent Investment report on Elite Park - Click here ^ top

Building Specification Detail

To download PDF building specification - Click here ^ top

Reservation Guide

To download reservation guide - Click here ^ top

Reservation Form

To download reservation form - Click here ^ top

Summary

On our recent trip to Istanbul we met the CEO of Demo and inspected their newly completed Multi Homes development close to Elite Park and we could see the care and attention they lavished on the construction and fittings, both in the bathrooms and kitchens. The building comes with a 10 year building guarantee. We believe Elite Park probably represents the best property investment opportunity we have seen. If you want more information on Istanbul and investing there then do please call us on 0800 0683370 (Intl: +44(0)870 428 3567) and ask for Lance. ^ top

Prices and Availability

Please contact our sales staff - Registration Form ^ top

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