It was reported that nearly 2,000 requests came for the Symphony Etiler project, which was implemented with Emlak Konut guarantee after the Treasury land was acquired through tender for 7 billion TL. The lowest priced apartments, the smallest of which is 60 square meters, cost 20 million TL.
Recep ERÇİN
While cash and fast sales observed in housing sales attract attention in the first 4 months of the year, some new projects are also approaching the end. Especially anticipating that prices will increase in the period when interest rates will fall instead of high deposit returns, the campaign period has become an opportunity for those who want to buy housing in some niche projects from now on.
It was reported that nearly 2,000 requests came for the Symphony Istanbul project, which was implemented by Yiğit Group, Kubba Construction and DBH Group in Istanbul Etiler with Emlak Konut guarantee. According to the information given at the press conference organized yesterday in Istanbul with the participation of company executives, the project was built on 13,000 square meters of land. The total construction area was planned as 77,990 square meters.
Land 7 billion TL project cost 14 billion TL
According to Yiğit Group Vice Chairman Önder Yiğit, 'There are a total of 8 blocks in Symphony Etiler, one of which is a residence. In our residence block, we have a total of 78 apartments, 1+1 and 2+1. The said apartments vary between 60 and 110 square meters. In the other 7 blocks with apartment options ranging from 3+1 to 6+1, we have a total of 127 apartments.'
Accordingly, nearly 2,000 requests came for the 208-apartment project. So, how much do these apartments cost? Yiğit, who stated that they acquired the said land belonging to the Treasury and Emlak Konut through revenue sharing from the tender in which 13 companies participated 1.5 years ago, noted that there were several squatter houses on this land before. Yiğit, who recorded that the land cost that day was 7 billion 34 million TL, noted that the total investment cost of the project is around 14 billion TL.
Demand is high, explosion will occur if interest rates fall
According to what was conveyed at the meeting, the square meter sale price of apartments is around 285,000 TL on average. The cheapest apartment starts from 23 million TL. When asked about who the nearly 2,000 requests for apartments exceeding 20 million lira came from, Önder Yiğit explained that they received requests from upper-level white-collar workers, doctors, engineers and residents of nearby neighborhoods in Etiler.
Önder Yiğit, who noted that they expect an explosion in the sector if interest rates fall and housing loans open, emphasized that demand is high. Yiğit stated that credit sales remained weak because access to credit was difficult. Kubba Construction Vice Chairman Ömer Emre Kubba also stated that they paid maximum attention to earthquake safety, saying, 'Symphony Etiler is actually not just a home, but also offers a strong investment opportunity.
Because there are very few earthquake-resistant, luxury and quality projects in such a central, prestigious location in Istanbul. So it's very enjoyable for those who want to live and a project that will maintain and increase its value in the future for those who look at it as an investment. Here we promise 'a privileged life in the heart of the city'; this will always be premium.'
"People are looking for spaces to breathe"
Yiğit Group Vice Chairman Önder Yiğit, who used the expressions 'We preferred a low-rise, horizontal architecture in Symphony Etiler. Because people are no longer looking for crowds in city life, but for spaces to breathe' in his speech at the meeting, said, 'We also wanted to create a life that makes people feel special with its calm, horizontal architecture in the heart of Istanbul. In our project, there are 10 commercial units besides residences. We also have two comprehensive social facility areas. One of the most important features of our project is that each apartment has its own terrace and balcony. We preferred a low-rise, low-apartment structure so that while experiencing neighborliness on one hand, our residents can find peace in their own garden and terrace on the other hand.'
