Istanbul is not the value it deserves
In the branded housing segment, a new project is being implemented that will add value to Istanbul, which has recently become the center of attention of the world. Pre-sales started for the Barbaros48 project, which will be developed on Beşiktaş Barbaros Boulevard with Emlak Konut GYO’s assurance and revenue rental model. Explaining the details of the plan that will provide the opportunity to watch Asia and Europe from the same window, Fuzul Yapı Vice Chairman of the Board of Directors Zeki Akbal drew attention to the rise of Istanbul in branded housing construction.
MEGA KENT STARTED IN LUXURIOUS HOUSING
Making evaluations about the project that will offer a special living opportunity together with social areas, Fuzul Yapı Vice Chairman of the Board of Directors Zeki Akbal emphasized that he wants to build a project that is deserved by Istanbul, worthy of two continents, “the real ruler of the Bosphorus”. Zeki Akbal, who said that they will not follow an aggressive policy for sales in Barbaros 48, also gave information about the setup of the meeting for those who want to get information about the project in question.
Akbal, who said that luxury real estate investors shifted their investments to big centers that are the first to provide their investments, said, “The most important reason for this is that money has become very expensive after the pandemic. The investor, who does not want to spend 20-30 thousand euros per square meter for luxury housing in the center of Europe, is heading to centers such as Istanbul and Dubai, which have a higher output premium value. The most important reason for this is that European and American-based metropolises are cities that have completed their premiums.”
VERY LOW COMPARED TO PEER CITIES
Stating that Istanbul still has not reached the values it deserves in housing prices, Akbal said, “The general average square meter price of apartments, including its suburbs, is 15 thousand 260 Euros in Geneva, 13 thousand 880 Euros in Zurich, 13 thousand 750 Euros in London, Munich and Paris. While it is over 10 thousand Euros in Turkey, this figure is 26 thousand TL on average in Istanbul. In other words, a thousand 320 euro center. The difference is more than six times compared to European centers. This luxury residence is over 30-40 thousand euros in Europe and America. Domestic and foreign luxury home buyers see ‘net’ in the premium value in Istanbul,” he said.
SALES DROPPED WORLDWIDE PLUS IN TURKEY
- Zeki Akbal, who draws attention to the effects of ‘precious’ housing projects on 30-40 thousand euros per meter in Istanbul, said, “As a sector player, we put our hands on where we move so that Istanbul can reach this level.” Making an assessment of the sector, Akbal stated that nearly 1.3 million residences were sold in Turkey in 11 months. Akbal said, “We are 1 percent higher than last year. However, housing sales in China are expected to fall by 30 percent this year. In the first six months, if it can be official, there is a decrease of 7 percent in the USA, 19 percent in Canada, 23 percent in the UK and 25 percent in the Netherlands,” he said.
VALUE OF THE PROJECT 2 BILLION TL
Akbal, who gave the information of saving 2 billion liras for the investment expenditures of the project, noted that they aim to complete the project in 24 months. Barbaros48 Acquaintance Office started to serve at the General Directorate of Fuzul Savings Finansman AŞ in Zircirlikuyu. In the project, which will be built with an angle of 180 degrees to see the Bosphorus line from Asia to Europe, the floor heights are designed as 4.5 meters. In the project, which will not take place in services such as office-shopping malls, but will only be used as a residence, the size of the flats varies between 100 square meters and 350 square meters.