Keith’s Weekly Property News May 30-2021
A fairly zippy week this past week, with lots of boots on the ground and transactions, offers, negotiations, and new projects started. Creaking under the burden of this, we are leaving no stone unturned in the search for new opportunities that meet our criteria. Expansion into new neighbourhoods is inevitable.
We are still very excited to undertake refurb projects with places offering sublime sea views in Uskudar on the Asian Side. We feel Kadikoy is hot to the touch and offers little appeal for investors looking for appreciation, mainly with Bosphorus view properties.. Sea view properties there have jumped ahead of market reality.
For new-build projects, we have identified 2-3 in the Kagithane area that we feel comfortable with. There is a construction boom there and it looks set to become yet another one of those alternative ‘downtowns’. The things I like about this area are: proximity to core downtown, lower sqm entry level price than core downtown equivalents, very popular with Turkish market, and the Metro line about to open.
We also still hope to ‘piggyback’ on some of these developments and find some really good deals on the secondary market that benefit from proximity to some of the mega-projects. We think investors should give this area a hard look. Yields are a bit on the low side, but I anticipate they will surge ahead in the coming years, making for an attractive retro-active yield from original purchase price.
This week, we will focus a bit on what has sold or what is under offer/being negotiated, as well as some of our picks. By showing you some of the ones under offer, it should give a good idea also of what we like in terms of pricing, location and general characteristics of a property.
In this week’s meeting then, we will focus on sold + for sale properties, as well as a basic review of our property management services. David will speak for 5 minutes about his assessment of Airbnb potential.
Property links distributed during weekly zoom session
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