Located in the wealthiest part of Istanbul, in Macka, Besiktas, overlooking the historic Bosphorus strait, this is the ultimate in pure luxury.
This elegant apartment residence offers its occupants luxury living designed by Armani. Interiors are spacious, with full glass facades and high ceilings. Natural colours are used throughout, and the material used in finishing the apartments is of the highest quality, with natural granite and hardwood flooring.
This is a home for those who desire the finest, with no expense spared on even the tiniest of detail.
The historic Besiktas coast is a short walk away, via the exceptionally pretty Akaretler region, and head in the other direction for the elite Nisantasi region.
Prices are for resale apartments. Please contact us for specific information and floor plans. Viewing is strictly by appointment
|Type||Size (Min)||Size (Max)||Price (Min)||Price (Max)|
|1+1||141 sqm||-||$ 1100000||$|
|3+1||262 sqm||475 sqm||$ 4100000||$ 6100000|
|5+2||692 sqm||$ 12000000||$|
|2+1||280 sqm||$ 4000000||$|
- Price ranges last updated 09/07/2019
- Prices are list prices and subject to discounts in accordance with the chosen payment plan and negotiation with the seller.
This product is available as full payment in cash only, with short term payment plans by negotiation only.
Besiktas is one of Istanbul's oldest, most historical districts. Home to palaces, the elite, and the wealthy, it's history is as old as the Ottoman empire.
Today Besiktas is one of Istanbul's premium and most expensive districts, as much of Besiktas enjoys sea front Bosphorus views. This makes it home to some of the world's most expensive real estate.
Besiktas is exceptionally wealthy, with Macka being one of the wealthiest parts. This is a sought after region by Turks, but most cannot afford to live here. Homes built on extreme hills are even now quite expensive. New stock is rare due to the historic nature of the region, and of course much existing stock is protect by the government.
Bebek and Arnavutkoy on the Bosphorus coast are two of the most expensive regions of Turkey, with average prices at nearly $20,000 per square metres on new homes.
The business district of Levent is connected to Besiktas and average over $10,000 per square metres.
Besiktas has gone through an incredible series of growth since 2011. It has grown 280% in value since then, and yet continues to grow. The main driver of this is the lack of new homes. Added to this is the fact of being on the Bosphorus comes at a premium. The Bosphorus after all is unique in the world, and people will pay a premium for this pleasure. Bosphorus facing apartments are one offs and very rarely change hands. Hence when they do, they change hands for serious money.
Further, the Bosphorus enjoys unique legal protection, construction is exceptionally difficult and strictly controlled.
These factors combine to form an investors dream - low supply with exceptional demand lead to price growth.
Since prices have advanced so heavily, rental income looks quite poor, at 3.6%. Yet this doesn't account for the variations in types of property that are rented, which tend to be poorly built old stock. This reflects in low rental income, against a regional price that is well beyond this. Rental income on new stock if taken as an average will exceed 5-6%, and this should be taken into account when investing here.