A rarely found mansion with a large plot of land within the confines of elite Florya, finished with elegant features - but in need of some tender loving care. Surrounded by a protected grove, with mature trees - this is a rare opportunity to own such a plot in what is considered a central part of Istanbul.
The interior offers plenty of space even for the largest of families, with over 1,500 sqm of total space spread over just two floors. Florya beach, a clean beach on the Marmara coast, is a short walk, away, as is Ataturk Forest, a huge protected forest land. This region will eternally remain low rise, due to the airport being so close, and will remain so even after the airport's planned closure in the early 2020s.
The land is filled with mature trees, and walking paths for gentle evening strolls.
This is a rare generational opportunity to obtain prime land in an important and historic part of Istanbul.
This product is available as full payment in cash only, with short term payment plans by negotiation only.
Florya is historically Istanbul's retirement and vacation district. Rapid growth in the 80s and 90s, along with significant expansion of Ataturk Airport, left Florya in the middle of the city. Unlike the rest of Istanbul, Florya remains to have height restrictions, giving it an almost countryside feel within the city centre. Linked to Bakirkoy today, it has enjoyed outstanding price gains over the years, and continues to do so.
With important public investment, like the Marmaray fast train link to Sultanahmet, and high class private investment, like Koru Florya Mall, Florya continues to be a Turkish favourite. With Ataturk airport expected to be decomissioned by 2023, Florya will gain further importance as a clean family neighbourhood within the city centre confines.
With the district being such a traditional part of Istanbul, demand for decent homes in Bakirkoy remains buoyantly high. The historic nature of Bakirkoy means that most homes are from the 60s and 70s, and this necesitates urban regenaration on a large scale.
Whilst most construction in Bakirkoy at the moment is like for like (older residents replacing apartment blocks with modern blocks), it means that supply is not as high as it may seem. The demand for high quality complexes remains high, with most wealthy Turks now wanting to be in a central location, but within a complex.
Space in central Istanbul is at a premium meaning price appreciation in a central Istanbul complex is always high. The effect of this is rental yield becomes lower than the Istanbul average, yet capital gain more than makes up for this over the course of your investment.
Bakirkoy prices surged with the opening of the Avrasya road tunnel under the Bosphorus, and is expected to surge once more, once the Marmaray under sea train line reopens - providing high speed train access to all over Turkey, Europe, even all the way to China. Potentially, one could ride a high speed train from Bakirkoy train station all the way to St Pancras in London!