Ridiculous Rental Price
Posted 26 August 2010 - 04:15 PM
Erm...to cut a long story short..the developer was asking a high price for the property in today's still-depressed climate but as some of the regulars on this forum will know I live in a noisy neck of the woods and the other side of the building is VERY noisy as they directly overlook all the bars and restaurants and so the noise is 24/7 plus they have security problems as they all have balconies overlooking the street below. I bumped into one or two potential buyers when it was for sale and they were all concerned about the noise.
Finally, the developer gave up trying to sell it and gave the tapu to one of his relatives, a snobby rich Turkish lady who lives in Nistantasi which is an upmarket part of Istanbul. According to the nice student girl who rents the top floor (the only normal person here and sadly due to leave quite soon), this new neighbour wants THREE THOUSAND TURKISH LIRA per month as a rental price! She has had it nicely renovated but it ain't a villa overlooking the Bosphorus and for a 110 sq metre rental in such a noisy place she'll only get students who can't afford that price. Even rich parents would consider that rent exhorbitant!
Needless to say my new neighbour is moaning about having to pay for repairs to the common parts despite the fact we have holes in the basement which is letting rats in. She said she doesn't own one of the basement depots so it is none of her business so I smiled sweetly at her and said it would be her business if her prospective tenant found out about the vermin:))
Posted 26 August 2010 - 06:18 PM
One too many zeros? I am beginning to count my blessings after some of thse posts about neighbors. What I can't grasp is that they cannot see their property is also devalued. Is this mostly a rental problem?
Good grief 3000 TL she must be living in cuckoo land.
Edited by mitchmoud, 26 August 2010 - 06:21 PM.
Posted 26 August 2010 - 07:24 PM
Posted 26 August 2010 - 07:41 PM
For 3000 I would expect a luxury place with a pool and other amenities.
Posted 26 August 2010 - 08:02 PM
Mitchmoud the historical properties in central Istanbul have not dropped like the rest of the country due to scarcity value and continuing demand to live in the historical centre. But the supply of rental property has increased and the rental prices have accordingly fallen. But landlords here are arrogant and as Sunny says, would rather their property stands empty than accept a lower rental.
When this flat went on the market I so hoped we would get a) someone normal and an owner resident and not another greedy speculator but the noise on that side of the house put off buyers and the continuing tapu ban on foreigners that has been in effect since 2005 hasn't helped. As a rule Turks buy to let here but foreigners buy to live in the properties.