Market news

1+1 as the star of Turkish realty market is shining again.

07.05.2009
turkey flatGlobal financial crisis caused decrease of abilities to get housing credit. Buyers who want to buy Turkish realty are looking at small flats such as 1+1. The main reason to choose such a small flat is low price and very good credit conditions.

Demand for this type of Turkish realty is so huge that construction companies before finishing projects lease them. There are 40.000 of such flats in Istanbul.
Nowadays Istanbul is full of different housing projects. The most attractive realty for buyers is 1+1 type flats. As usual this type of realty is being bought by just married and single women and men. As the main reason to buy such a flat for these groups of people is to be closer to the work place. Young girls who want to live separately from the family successfully persuade parents to buy such realty. Last time in Istanbul students, new families, single ones and foreigners rent 30-40 meters square flats. In case of financial ability they buy it immediately.

Forgetting of the last successful years for the Turkish realty fulfilled by life and action we may notice that sky of Turkish realty is shined by the 1+1 star. Buyers who want to purchase Turkish realty to live in it or to use as investment are looking at small flats which are cheap and payment conditions are more than good.  Investors prefer this type of Turkish realty because it is cheap and well-sold.  Other reason of 1+1 flat type preference is that rent payment is high. So, in the small period of time you can turn you money back by leasing such a flat.

Construction companies have discovered small flats

According to this data construction companies of Turkey have made a decision to develop projects which consist of 1+1 flats. In some construction projects allotment of this type of flat is nearly 90%.  Some Turkish construction companies which made this type of flat in 2008 being satisfied are ready to start new 1+1 construction projects. The lot prices in Istanbul are  still very high. But construction in the some districts of Istanbul as Kartal, Kurtkoy and Beylikdüzü is perspective because of cheapness. The flats typed 1+1 are very expensive in the centered districts of Istanbul as Sisli and Bomonti. The price in these districts may run up to 4000 dollars per meters square.


News was edited by “VESTA Estate
vestaestate.com



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