Keith’s Weekly Property News August 10-2021

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Keith’s Weekly Property News August 10-2021

This week has been a little light on the new property front as several days were spent at the land registry and at the cadastral office archives trying to dig up paperwork to allow greater scope to one of our current renovations, as well as a host of other bureaucratic tasks. Nonetheless, there was still plenty of activity and a few new properties of interest. Unfortunately, I will be away from tomorrow for the week, so I will not be able to personally vet some of these til I return. However, I will do 2 hours/day of 1 to 1 zoom sessions. If anyone is interested, just contact me on whatsapp. I will be holding them daily from 3PM to 5PM Turkish time next Tuesday-Friday

In the press:

https://www.instagram.com/p/CNc4E5ynLbv/?igshid=109z0ozqpvs02

Some red flags for office space in the US.

+ a few graphics on Turkish economy.

+ Eren will review the Covid situation and outlook. There have been record numbers of new cases in the past week, like many European countries. So far, travel remains open, but there is a soft lockdown on Saturdays and Sundays, so take that into account when planning travels.

Renovations:

We currently have 4 ongoing projects and will start another this week. We seem to be managing well enough with these kinds of numbers. We are noticing an increase in our costs. Especially for smaller flats, we are now looking at closer to 2500TL/sqm. There have been almost across the board increases in materials + labour. However, we are still at the 350USD/sqm mark or lower for entire renovations, so no need to panic. Spring/Summer outlook looks busy.

Update on Transferwise:

Most clients are tipping this as the most cost-effective, easy to use method of converting funds to TRY.

Residential rental market in our target areas: Bomonti, Kurtulus, Mesrutiyet and surrounding areas.

There is a serious shortage of renovated apartments of all sizes and budgets, ranging from 3000-8000TL. Very little to choose from. Clients with renovated properties can expect to find tenants quickly. 1 bedroom starting from 3000TL, 2 bedrooms from 3750 TL and upwards. There is almost nothing at the high end, above 5000TL, and that is not due to lack of demand. If the property has something special, it should command a high rent.

A handful of investment properties we will be checking into

https://www.dailysabah.com/business/economy/turkey-has-quite-a-resilient-economy-ebrd-economist-says

Property links distributed during weekly zoom session

Tagged: Istanbul propertybuying property in Istanbulcentral IstanbulIstanbul apartmentsIstanbul buildingsIstanbul investmentIstanbul propertyIstanbul property sale, Istanbul real estateIstanbul renovationsProperty in Istanbul.

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About The Author
keith-boyle

About Us: My Bricks is a unique real estate company in Istanbul. With over a dozen years of experience in downtown Istanbul, Keith has been involved in countless transactions. He tirelessly researches for the best opportunities for his valued clients. In addition, Keith has project managed over 50 renovation/restoration projects (see Keith in action on YouTube: https://www.youtube.com/watch?v=yLaLIjo9X-A&pbjreload=101). We source all kinds of properties, from budget properties up to luxury villas on the Bosporus. We give personal service to our clients; often doing zoom and WhatsApp sessions 1-1 and also webinars where clients can benefit from the wisdom of Keith’s other clients. In these webinars issues such as taxes, legal issues, design and renovation and identification of property opportunities are addressed. These sessions are typically run on Saturdays and Sundays. Come and join us; just contact Keith for details on: WhatsApp/telegram at +90 531 582 3876). Our living and breathing passion is real estate in the downtown area. We look forward to virtual sessions where you walk side by side with us along the streets or in real life when you arrive in Istanbul. We are fully equipped to help you with any logistic matters you may require, from obtaining citizenship through investment to managing your assets professionally here in Istanbul. At this point in time, the agency is transforming and we have investment coming in. It is an exciting time to purchase in Istanbul. I look forward to doing the ground-work for you and launching you on your way to a profitable and enjoyable investment. Kind regards, Keith Boyle

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