Astrum Towers For Sale in Turkey
| €47.500 (approx £32.986) | |||||||||||||||
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Project Name: Astrum Towers Total Investments: 3500 Minimum Cash Investment: £8,250 + purchase costs for a studio of £33,000 Location Astrum Towers is located in Büyükçekmece district, a regeneration area just on the outskirts of Istanbul. Büyükçekmece is a busy town on the Sea of Marmara in the European part of greater Istanbul. It has great bus and ferry connections to the city centre just 30km away and is near the Istanbul International Airport. The district’s economy is growing rapidly and the infrastructure is developing at a similar pace. There are 4 universities nearby and Büyükçekmece has an established reputation for trade fairs with its local residents working mostly in manufacturing and the service sector. Investment Structure Freehold Completion Second quarter 2009 Rental Program The developer has appointed an excellent management company to maintain your investment. They are a highly reputable internationally backed company with a wealth of expertise in managing developments. Rental yields are predicted to be between 6.75% and 8.25% dependant on the season. Payment Schedule £500 reservation deposit 30% upon signing the preliminary contract 30% upon initial construction (April 2008) 30% upon completion (First Phase: May 2009) 10% upon transfer of title deed Financing Mortgages are available for all properties on this development 75% Loan to value Maximum term 15 – 20 years Maximum loan £250,000 Repayment mortgages only Rates from 6.9% No minimum loan Inclusions Natural gas central heating Living rooms featuring natural parquet floors with other rooms being carpet Built in oven and extractor Cabinets with either laminate or melamine finish with laminate countertops Ceramic tiled floors and walls in the bathroom Heated towel rail, shelf and mirror Facilities 330sqm outdoor swimming pool Two saunas Café 350sqm fitness centre 650sqm basketball court 150sqm aerobics studio Restaurant Outdoor and covered parking Secure development More reasons to invest in Astrum Towers With the accession of Turkey into the EU and the launching of the domestic mortgage market in 2008, demand for quality residential property will continue to grow and push prices up. There is no Capital Gains Tax if you sell the property after 4 years. Annual capital appreciation is expected to grow by 15 – 30% per annum. Istanbul has a young and fast growing population with 11 million people increasing the demand for good quality housing. It is Europe’s largest metropolitan area. New legislation has been imposed to protect the rights of investors and has reduced the risk and reassured buyers. Foreign investment has dramatically increased from $1bn to $8bn in the last two years. With the anticipated accession into the EU, Turkey’s economy is flourishing with the inflation dropping to it’s lowest ever point in over 30 years and a GDP that grew by 6.1% in 2006 | |||||||||||||||
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