Plot in the city center
Object ID: 351
Location: The popular tourist area of Bodrum Peninsula, 100 meters from the sea (equipped municipal beaches), the distance from the city center 50 meters away from the international airport - 45 km.
Total area: 15 000 m2 (10 of 500 m2 accounted for granted)
Permission to build: 10/20% (2100 m2) residential
Cost - 2,875,000 Turkish liras (about 1.256 million euros).
The calculations for the project:
25 apartments of 84m2 and 110m2 of living space total
Construction costs - 550 000 euros (rate of 200 euro \ m2)
The cost of upgrading of the complex: swimming pool, driveway, walkways, landscaping and landscaping work on rough estimates of around EUR 100 000.
The cost of retail sale of apartments - 120 000 euros (a real market value of the apartments similar area at a given distance from the beach on the Bodrum Peninsula).
The total cost of the project - 1.726 million euros (construction costs and land).
Revenue from the project - 3 000 000 euros.
Profit from the project - 1.274 million euros (73.8%).
Timeline for implementation:
- Obtaining a building permit and approval of the project - from 1 to 4 months.
- Construction of residential buildings - from 6 to 12 months (in Bodrum building season lasts from October to June).
- Implementation of residential buildings (retail sales in full) - an average of 6 months to 2 years.