Bond, James Bond…returns to Istanbul

http://www.hindustantimes.com/Entertainment/Hollywood/James-Bond-returns-to-Istanbul-on-50th-anniversary/Article1-849054.aspx

There was certainly quite a bit of fan fare during Daniel Craig’s visit to do filming on the new Bond movie in Istanbul. Yet, it was not the first time that Bond as an enterprise has graced Istanbul’s shores. Not only is it the favorite city of the director of the current Bond film, but it was also apparently the favorite of the film series’ prolific writer, Ian Flemming.

Of course, anyone familiar with Istanbul will not be surprised that it has featured in 3 Bond movies…with its winding streets, stunning waterscapes, bridges, steep slopes and grand monuments with every specimen of humanity trampling about…it can hardly be a surprise that film makers of all stripes lust after shoots in Istanbul.

007 looking good in Istanbul in the 60’s

One can just imagine the difference between 1963 and To Russia with Love and today’s skyscraper-filled skies. The new skyscraper center, Atasehir, more closely resembles what some high-tech vision of some emerging giant Chinese city would reveal.
In any event, it seems to the history that adds the magical, surreal element to the city. After all, if it were just stunning modern architecture, there would be countless rivals: Dubai, Singapore, Mumbai, and so on. Istanbul remains unique in its combination of older than old history and blazing modernity.

Not as confident in the 90’s

Unfortunately, the undercover property agent did not get a chance to meet the real undercover agent Bond on this occasion, but I did follow around his stunt crew who seemed to be looking for a little after hours action up in Taksim. Despite their sticking out rather obviously, they seemed to get lost and were asking passers by for directions. I had a chuckle to myself…even the Bond boys were out of their depth in Istanbul.

Back to his best now

If you fancy catching a bit of the Bond spirit, take a stool at the Orient Bar in The Pera Palace Hotel and try one of their divine Martini’s.. http://www.jumeirah.com/en/Hotels-and-Resorts/Destinations/Istanbul/Pera-Palace-Hotel-Jumeirah-Istanbul/Restaurants–Nightlife/Orient-Bar/

The Renovation Trap

I often walk into a property that a client or friend has recently renovated with a slight degree of trepidation. I have many things to consider, is it worth telling the truth and alienating a friend…or a client? Have they done what is logical in relation to the market and should I tone down any subjective reaction I may have to what they have done with the property? I rarely enter into detail about what they have spent. That is of less concern. I worry about the final product.

At times, I have had good reason for this fear, as I have seen many a fine property degraded by a poor or personalized renovation. But, happily to say, in Beyoglu particularly in the past few years, I have mostly been happily surprised with property renovations rather than disappointed. There are a lot of creative and bright people around and they invariably come up with something great, at times even jaw dropping and inspirational.

Here’s an example – 

This property is simple with easy clean design, without getting to engrossed in high design. Please see the full listing and photos on http://www.lilimont-istanbul-realestate.com/for-sell/residential-apartment-cihangir-3/

The problem with a poor renovation is that in addition to the expense, it often actually decreases the value or salability of a property. Quite often, it would have been better to leave the property un-renovated and to sell it as is. The paradox, too, is that the same people who implement a poor renovation are the ones who also expect a high premium for their dubious efforts. Of course, there exists a fine line between having a renovation budget and cutting corners. It is also a combination of the quality of materials and the workmanship involved. As finishing and design standards can be a bit low, it is imperative to ensure that the these are in line with the value and location of the property and that the materials used are neither too far above the market norm, nor too far below. Unless the owner has zero need for a future resale it is imperative to assess the salability of a property before embarking on a costly renovation.

Here’s another good one – 

This apartment utilizes a lot of the Turk Ottoman influence invoking an Agatha Christie era without getting too fussy. http://www.lilimont-istanbul-realestate.com/for-sell/residential-apartment-aynali-cesme-3/

I work with a group of International developers who have developed properties throughout Europe and their view is that in an area experiencing redevelopment, such as central Istanbul, an influx of owners from different countries tend to raise the stakes regarding renovation and quality finish. For example, an owner from Berlin may insist on a very high finish level and a Roman owner will quite possibly want to utilize a higher degree of design. This has happened in central Istanbul over the past 10 years and it’s readily evident that local tradesmen and architects are upping their game to meet these requirements. An International influence will also help direct the design trend in-line with the current ‘zeitgeist’ as opposed to lagging behind, which in itself will attract buyers. It is a combination of current International design with a Turkish cultural foundation that provides the most salable properties.

To undertake a renovation project without paying heed to current trends is to invite potential disaster. It is a bit like a surgeon performing surgery without being updated on current research in his or her field.

As a team, my partners and I have now renovated countless properties over the past 15 years, we can confidently say we know how to refurbish an apartment economically and to a degree that allows an easy onward sale. http://www.lilimont-istanbul-realestate.com/