If you are considering premium commercial real estate investment in Beşiktaş, it is essential to clarify your investment objectives first:

• What is your investment budget?
• How much will you finance from your own capital and how much through loans?
• Is your investment goal wealth preservation or capital appreciation?
• How long do you plan to hold this investment?
• Will you lease the property straightforwardly, or do you have a business model and organization for managing the lease?

Plaza Office Investment in Beşiktaş: Key Focus Areas

For premium plaza offices along Büyükdere Avenue, the main areas to focus on are:

1. Levent – Highest value
2. Esentepe – Quasar Istanbul area
3. Maslak – Medium value

Rental yields (per m²):

• Levent: 1,600 – 2,250 TRY
• Esentepe: 1,300 – 1,600 TRY
• Maslak: 700 – 900 TRY

Price-to-rent ratios (months):

• Levent: 180 – 220
• Esentepe: 160 – 200
• Maslak: 160 – 180

Vacancy rates:

• Levent & Esentepe: 13% – 15%
• Maslak: 18% – 20%

In the coming period, new supply of plaza offices along Büyükdere Avenue will remain very limited.

Premium Retail Investment: Nişantaşı and Nisbetiye

For premium retail properties, focus on:

• Nişantaşı – Main street stores
• Nisbetiye Avenue

Rental levels (per m²):

• 2,000 – 4,000 TRY, decreasing as the space increases

Price-to-rent ratios:

• 180 – 220 months

Tenant demand:

• Premium retail properties have higher tenant demand compared to plaza offices on Büyükdere Avenue.
• Off-market opportunities and an active marketing network are crucial for success.

Plaza Office vs. Premium Retail: Investment Comparison

Conclusion:

• Investing in a premium retail property is generally more attractive than a Class-A plaza office.
• In terms of future capital appreciation and tenant demand, premium retail offers greater opportunities.

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