House for sale in Istanbul Balat Prime InvestmentRef: PTFS0936
Located in the old quarters of Istanbul, steeped with history and culture in Balat is this recently renovated four bedroom home right above the Golden Horn on the European side of the city, a great investment opportunity in an area currently undergoing lots of regeneration and development.
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By purchasing this home, not only are you investing in bricks and mortar, but you are also investing in the area itself, as thanks to UNESCO and Turkish government initiatives, Balat is being transformed and regenerated with designer boutique stores, prestigious homes, and prime apartments popping up in the area.
Originally built in 1919, the home is part of Turkey’s illustrious history, built before the establishment of the Turkish Republic, the property offers a charming insight into life in Istanbul in a very central and historic location.
Inside the building there are four floors, from the top floor you can peer out and enjoy remarkable views over the Golden Horn. You will find four spacious bedrooms inside, each one offering lots of space and featuring highly renovated and tasteful interiors. The entire interior of the property has undergone renovations over the last year to be fit for life in the city to a very high class, yet staying true to its original character and nature.
The overall feel of the home is one that is very bright and spacious, allowing lots of sunlight to fill the property with light through large windows – presenting a welcoming aura and golden atmosphere from the get-go.
There is a small balcony and garden to be enjoyed on the grounds of the home.
It is possible for all furniture to be included in the sale, making your move to Turkey a smooth and seamless transition. For information on buying the home fully furnished, please give us a call or email enquiry today.
The outside of the property could do with some slight renovations and modernisation, this would bring up the value of the home greatly, making this a great investment option for those looking for projects to undertake in Turkey.
The home is rated as second class historical structure by the High Council of Monuments, and thereby it is free of property tax.
Location and investment value of the house
The area had been dilapidated since the early 20th century, but now, thanks to UNESCO and the Turkish government´s regeneration initiatives, the area is being developed to its former glory, it could be compared to what Shoreditch was, and is, in London.
In the immediate vicinity you will find designers, charming boutiques, and pretty stores moving in to capitalise on the prime and trendy area – it is a location in Istanbul that is seeing property prices rise up and up.
The house is located in a historical neighbourhood. There are highly important churches from the Byzantine period, synagogues, mosques, churches and schools from the Ottoman period such as Phanar Greek Orthodox College, Church of Saint Mary of Mongols, Ecumenical Patriarchate of Constantinople, Church of Saint George, and Chora Museum to name but a few of the interesting and historical landmarks within easy reach to this property.
Why should you buy this property?
Offering lots of character, and your own chapter of Istanbul´s cosmopolitan history, this building is an ideal investment in Turkey and one that has a huge amount of potential to unearth.
Anyone who is seeking to purchase a property in Istanbul to capitalise on the strong growth, rental prospects, and historical significance of owning a home in this city, would do well to take a closer look at this cultured building. In recent years this neglected area has been attracting more and more people for investment, not only from Turkey but also from Europe because of the potential it has.
At this price, this is a steal and one that will not last very long on the market indeed.