Keith’s Weekly Property News June 6-2021

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Keith’s Weekly Property News June 6-2021

It certainly had the feel of the start of summer this past week. Plenty of last-minute calls from clients out of the blue, the May rains gave way to brilliant sunshine, and highest-gear has been engaged. We are closing on plenty of good deals for our clients and some new properties have begun to appear. Still not enough, but a good start.

The pressure to fulfil CBI orders but maintain our standards has been pretty intense. We are averaging anywhere from 30-40 viewings that take us to Taksim/Cihangir, every corner of Sişli, Besiktas, Kagithane and even the Asian Side.

Most of the demand seems to be for ‘value plays’ on the secondary market; we are strong there, our sweet spot. Our search for value in new builds continues and we have identified 2-3 projects we feel comfortable endorsing.

As the TRY has sunk to historic lows, holding sellers to their asking prices has taken a great deal of effort and dexterity. We are happy with the deals we are closing on, though many go bust along the way in the negotiation stage. For clients who experienced this; my apologies. It is a feature of the deal-making landscape here and must be accepted with a degree of equanimity.

The CBI program has definitely started to make its mark on the secondary market, with many adverts running lines like ‘Suitable for Citizenship’

From this week, in order to get the weekly tips on property links, you have to join the meeting (sorry). But if anyone really wants, and they provide a plausible excuse ( wink, wink), I will of course forward to you.

Tonight I would also like to explore the topic of ‘how it might all go wrong and your investment flops’

I would like to outline what I see are risks to the investment and how they can be minimised, as well as identify some past mistakes that clients have made.

We will also reverse-engineer prices on some properties that are renovated to see if they are a reasonable deal.

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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