Central Istanbul hotel building for sale in FatihRef: PTFS0930
With higher year round occupancy rates than ever before, the business of owning a hotel in Istanbul is proving to be a successful winner for investors and businessmen around the world taking up the opportunity to convert apartment buildings into apart-hotels.
Located in the Horhor area of Fatih, this building is situated within a very busy foot-fall location and high touristic area for travellers and those coming to Turkey.
The apartment building
The building offers 10 apartment suites over five floors at a very moderate price tag for such an investment. Each suite offers two bedrooms, so in total there are 20 bedrooms in the entire building.
At the entrance to the block is a reception area open all day which also doubles as security to the building. A classic lift is installed for easy access to and from apartments for residents.
Clean lining for rooms and apartment cleaning is offered to residents on a weekly basis.
The building is easily navigated and features classic and authentic Turkish touches throughout. Overall, it is a very well managed building with fairly easy upkeep.
Each apartment offers two good sized bedrooms inside. The apartments come fully furnished, including all white goods and furniture such as bed units, wardrobes, and sofas.
Off the bedrooms is a large open plan area consisting of the living room and dining area with kitchen space. A family bathroom is also found inside the home, which has been recently upgraded.
The apartments are furnished in a neutral manner and are ready to be rented out immediately either on a short term basis or long term rental to those who live in the city.
Why invest in this central building in Istanbul?
With tourists becoming savvier than ever before, more tourists are looking for self-contained apartments to cook homely meals and save on eating out while on holiday rather than spend their vacations in a generic hotel. This building offers tourists an authentic look into the city.
This has resulted in huge websites such as AirBnB cropping up whereby owners can cut out the middle man and list their apartments for rent themselves – a building such as this one would do very well within the independent rental market websites.
With more than 40 million tourists heading to Turkey every single year, occupancy rates for hotels and buildings like this have been creeping up steadily into the high 80’s in percentage all year round.
Horhor is a popular area within the Fatih district which is a very central area of the city close to some of the most famous landmarks and spots within the city. An historic setting with lots of attached culture and significance, you will find Sultanahmet close by.
Great public transport services will take you around the city in a matter of moments, while there are also several local amenities and quality restaurants and shopping options found within walking distance.
Owning or converting a building into apart-hotel style units is becoming a very popular investment strategy in the city for those looking to cash-in and capitalise on the strong tourist hold that Istanbul offers.
A beat like no other, Istanbul is a huge metropolis and a building like this simply cannot be overlooked – make this your ideal Istanbul investment.