Apartment for Sale
Property Ref: HW_00P-701
- 484 sq ftarea sq ft
TurkishPropertyPort explicitly suggests this project due to the fact that it pays a third of its price by itself in only 2 years!
Such an investment receives very high demand from Turkish investors, and the stocks are running out. The reason behind this rush to the project lies in the feasibility of the project, so let's take a look at why Turkish people from all around the world are choosing to invest in this project. After all, Turkish people know their own country and dynamics.
What is this complex?
This is a 810 room student housing complex located in Sakarya, a city 1.5 hours drive east of Istanbul.
Why is the project in Sakarya?
This student housing is the first professionally managed student housing complex in Turkey. The significance of Sakarya is that it is a developing middle-tier city with a university, Sakarya University, founded in 1992. Sakarya University is one of the most rapidly growing universities in Turkey with increased government funding each year. The funding Sakarya University receives is because the city is growing rapidly due to high industrial capacity. About 90,000 students attend Sakarya University, but the city's growth can not catch up with the university's growth. There are simply not enough student housing, dorms, or houses for the sheer number of students flowing into the university each year. Only 34% of the total number of students can be accommodated by existing private and state dorms. Considering most of the students in Sakarya University are from other cities, this is an important issue. Another aspect of the student population in the city is that it is almost 10% of the whole city's population. There is simply not enough room for these students, especially those who come from bigger cities, like Istanbul. To take advantage of this lack of housing for students, the first complex is being built in Sakarya, where it is possible to promise at least 8% rental yield guarantee!
Why should I invest in Sakarya, instead of Istanbul?
Sakarya is the second city when traveling east from Istanbul, following Kocaeli. The two cities east of Istanbul are developing middle-tier cities, and they are fueled by industrial growth. Sakarya has seen a dramatic increase in population, especially in the last 5 years with the population growing 10% because of industrial investments to the city. Toyota, Hyundai, GoodYear, and Daikin are among the biggest investors to the city. Their factories in Sakarya are production hubs for eastern Europe, Middle-east, and Caucasses. Along with these big investments, there are huge number of smaller industries to support the production from Sakarya and its western neighbor Kocaeli.
Why would students choose this project?
The first reason is the location. Sakarya University's campus isn't an easy access for students. The campus is located on top of a hill, west of the city center, overlooking the magnificent Sapanca Lake. However, no matter how beautiful and scenic the campus is, there aren't enough houses around the campus. A small number of students are resident to university dorms, but the rest of them must use some means of transport, or simply hit the road and take a long uphill walk. The desolation of the campus is very obvious looking at the road that connects the campus to the city. The 3 km long road is called "University Street", reflecting the lack of settlements in the area before the university. However, this project is nearby the campus.
The second and third reasons are demographics and culture, respectively. Sakarya is on the more conservative side, despite the growth and modernization in the recent years. Students are very often turned down for asking to rent local's houses, and likewise, the city is not welcoming for students by lacking enough modern amenities. Another strong point of this particular student housing complex is bringing modern student life to Sakarya. The complex is filled with amenities such as swimming pools, sports facilities and courts, a supermarket, hairdressers, laundry services with dry cleaning and ironing services, and most importantly, social facilities such as restaurants and chain coffeehouses (you know, like Starbucks ;) )
What is the investment value in this?
First off, regardsless of the economical and political status, people will be sending their children to university in Turkey. This is important for two reasons.
1. Yes, people send their children, which means the family of the student is economically sponsoring, or better still, supporting the student throughout the university.
2. Education is very important for families in Turkey. There is a saying "Ceketimi satarım, çocuğumu okuturum.", which roughly translates to "I will sell my jacket to send my child to school" which reflect how far Turkish families can go economically to send their children to school. Most of the time, money is not a matter for students in Turkey, families cater for their all needs.
These mean there will never be a shortage of "tenants" in this project. With 90,000 students in the campus nearby, this complex is far from enough anyways. Besides, there is a minimum 8% yearly rent guarantee for the investors. Which means you do not pay maintenance fees when your unit is empty, but keep receiving payments!
Another upside of this investment is, unlike residential "property management" where you need to purchase and furnish the flat, this project comes with all the furniture and soft furnishings with no cost. When you invest in the project, you do not pay a single dollar more than the purchase price.
The project is a 28,500 square meter construction zone and 45sum per unit, it holds a swimming pool, fitness and beauty center, including sporting facilities and hiking zone, working/studying rooms.
PRICE & PAYMENT OPTIONS
LIST PRICE CASH PRICE INSTALLMENT PLAN (from the list price)
49.700 USD 46.000 USD %35 down payment - 24 months installment