Fully furnished rooms near Bilgi University in Beyoglu

CCD today announced unveiling of 2 new properties under their management that are both designed for Erasmus students visiting Istanbul.

Russia House and Silver Building are both lcoated in Tarlabasi region of Beyoglu and are both located within a stone throw's away from the Kasimpasa Campus of Bilgi University. Both buildings together are capable of accommodating up to 26 students in individual rooms. All rooms are designed to uphold 3 basic principles that the company implements at all their properties from serviced apartments designed for business travelers to simple rooms for students; hygiene, safety and hi-tech equipment.

While CCD primarily designed the apartments for Erasmus students, the company intends to have local students as guests to have a healthy balance of foreigners and locals in the same premises and enable interaction between the students.

Both buildings are newly renovated and presents a clean and safe environment for its guests. Both buildings are located on the same street in Aynalicesme region of Beyoglu and are centrally located. Erasmus students planning to study at Bilgi University, Kadir Has University and Istanbul Technical Univesity can enjoy the amenities offered at these buildings at reasonable prices while being close to the campuses of their schools.

Istanbul Rooms for Rent for Erasmus Students

There is a stable demand for rooms for rent in Istanbul for short to medium term, especially from Erasmus students and foreigners visiting Istanbul with limited budgets. While some property managers provide rooms with private bathrooms, rooms usually are offered within apartments that have shared kitchens and batrooms.

CCD, a property manager in Istanbul, is now working on preparing a portfolio of over 50 rooms in Beyoglu area specifically designed for Erasmus students looking to stay in the area. Bilgi University is within a walking distance of only a few minutes from the new properties acquired by the company. According to CCD, the goal in the design of the apartments is to provide safety, hygiene and the necessary hi-tech equipment that an Erasmus student would like to see in the room that they stay in. A quiet living and studying environment coupled with a great location and reasonable prices will alway be in demand for students.

Links to available rooms for rent will be published soon with images of the rooms and a list of amenities offered. A total of 50 rooms will be available for rent for the fall term. The rooms are planned to be offered within a price range of 350 to 550 euros per month which is very cheap and reasonable compared to other options offered. The apartments in the higher range of the price range have private bathrooms and some have more than 2 seperate rooms. It will be nice for Erasmus Students to have more options of rooms for rent in Istanbul and reasonably priced apartments.

If you would like to get further information on the properties, feel free to contact CCD through info@apartments.com.tr The website is currently also under construction and will be available within a few weeks. However, further information on availablity can be obtained via e-mail.

update: see http://www.roomsinistanbul.com

Apartments and property for sale in Beyoglu, Istanbul

Oypro, a leading property management services company in Istanbul has recently published a variety of residential listings for sale in the city center of Istanbul. Although, Istanbul is a city with several city centers, Beyoglu region is still accepted to be the center of all for centuries.

This region where the demand never suffers also has not been able to increase its supply of stock for residences due to restrictions on construction and permits. This also makes the whole Beyoglu region a prime location for both local and foreign investors.

Investors interested in buying properties in Beyoglu region can check these several new listings including a historic apartment in Galata, a residential development project in Galata, a serviced apartment property on Istiklal and this 2,000 square meters of serviced residences project again right next to the infamous Galata Tower.

Istanbul in 2009 was again chosen as a top 3 European investment location for residences, hotel and office space by ULI and global financial institutions like PWC and others. With prices in Istanbul decreasing in comparison to 2007 due to the global crisis, several projects are now even more attractive for global investors.

It is a worth a look into the residential market in Istanbul, especially those in the city center.

Siraevler Akaretler in Besiktas

An excellent option for those looking for long term rentals at a unique property in Istanbul is Siraevler project in Istanbul. The apartments start from as small as 47 square meters and go up to 450 square meters.

The rents for small 47 sqm studios are currently offered as low as 1,150 euros per month according to Istanbul Turkey Apartments.

These apartments are an excellent option for anyone that wants to live on top of stores of global fashion powerhouses such as Jimmy Choo, Cornelliani, Bottega Venetta, Paul Smith, Marc Jacobs, Etro or Fred Perry.

Even if your apartment is small, you can always invite your guests to the W Hotel that is located in the moddle of the residences.

Change in Investment Strategies

After the sudden change in the law regarding the acquisition of real estate of foreigners in Turkey on June 15th, 2008 and the increasing negative effects of the global crisis on the Turkish real estate market, problems only kept accelerating for foreign investors interested in this real estate market.

An article published on Apartment Turkey blog analyzes the strategy change some funds had to undertake. The switch to a holding strategy from adding value by constuction and flipping the properties in a few years of time seems to be no more feasible due to difficulties in selling the properties at premium prices.

It is a similar situation to what local investors fell into as soon as the number of transactions in the market have dropped and pressure on prices started to be felt. Investors who have chosen the suburbs of Istanbul due to the development potential they saw have run into even more problems.

According to this and similar articles, our assumption is that investors will try to hold until the market recovers from its current situation and these investors will try to reach their targeted IRR's by collecting rent for their portfolios. It seems to be the most rational decision for both investment funds and also local developers active in the Istanbul market. It is probably the same situation for many European cities.

Serviced Apartments Istanbul

There is a visible increase in the number of serviced apartments in Istanbul over the past few years. Turyap added a new serviced apartment property in Besiktas to their portfolio of 3T residences.

Several individual entrepreneurs are also either renting or acquiring properties with multiple units to rent out to prospective visitors planning to visit Istanbul and seeking furnished opportunities.

Serviced apartments Istanbul is also a site dedicated to providing information about the serviced apartment properties in Istanbul and provides location, amenities and other specific information about new developments.

Serviced apartments, considering the expansion in number of offerings in the market, will soon be a good and cheaper alternative to hotels. These types of properties are cheaper for medium term stays due to less overhead costs involved and also provide more personal space than hotels.

However, a chain of these type of apartments witha strong brand name is still non-existant in the market. There is a great chance for a developer and manager to enter the market, create their brand and pioneer the domestic market.

We will keep providing more information about the property managers and new developments in Istanbul.

Noa Property Management

A foreign funded developer that renovates luxury residences in Beyoglu area is Galata AS. Noa, the property management arm of the fund, markets and manages these uniques residences in Istanbul.

The fund is investing specifically in the Beyoglu area with a focus on creating luxury apartments for young professionals and foreigners who choose to live in the city center.

The notable buildings renovated by Galata AS include, but is not limited to, Tatar Beyi, Ali Hoca, Luleci Hendek, Serdar-i Ekrem and Faik Pasa. Noa also has a gym in their property on Ali Hoca Araligi which can be accessed for free or for a discounted fee by the tenants living on Noa properties. Pilates and yoga classes are some of those offered in the Noa Gym other than regular training opportunities.

Noa's apartments are worth a look if you are planning to stay in Istanbul for medium to long term and would like to live in the city center where you can easily access various cultural centers, art galeries, cafes, bars and restaurants within minutes.