All you need to know when buying a property in Istanbul

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All you need to know when buying a property in Istanbul

Important information for anyone who wants to own a property in Istanbul

All you need to know when buying a property in Istanbul
14th June 2022
  • 1255

Buying a property in Istanbul is one of the first options for any investor who intends to start investing in Turkish land, due to a set of huge privileges that this city is known for.

Through the following article, the editorial team at Binaa Real Estate will inform you of all the information and details related to buying and owning real estate in Istanbul.

If this is one of the topics that interest you, you can follow these lines with us to find all the answers you are looking for.

 

Why buy a property in Istanbul?

In your opinion, what are the most important reasons that may push a foreigner or investor, whatever nationality he holds, to buy and own real estate in Istanbul and not in other states and provinces in Turkey?

What has been noticed is that Istanbul is the destination agreed upon by all investors and foreigners around the world without exception for a wide range of reasons and incentives.

Through the following paragraph, you can see all the reasons that encourage foreigners to buy real estate in Istanbul.

First: Real Estate Investment:

One of the first reasons that push foreigners to buy a property in Istanbul is the great desire to enter the field of real estate investment to obtain high and abundant profits. All indicators confirm that Istanbul is an ideal environment to start such a project. The result will inevitably be distinctive and will bring its owner a lot of profit and success. .

 

Second: Housing and stability:

Also, one of the most prominent motives that encourage a foreigner to buy a property in Istanbul is that he found in that city the right place for permanent residence, where all the elements of an ideal life are available in it, such as schools, hospitals, health centers, malls, and others.

 

Third: Obtaining citizenship:

One of the main goals in which a foreigner chooses to buy real estate in Istanbul is the great desire to obtain Turkish citizenship. According to the statistics conducted last year, more than 40% of those who bought real estate in that city were seeking citizenship.

 

Advantages of buying real estate in Istanbul:

When you choose to buy a property in Istanbul, there are many advantages that you will get through it, and it is precisely what encourages any foreigner or investor to buy in it without other Turkish cities.

Below you can view it in full, as it will be highlighted in detail.

Successful real estate investment:

If you decide to enter the real estate investment sector in Istanbul, you have chosen to obtain success and high and abundant profits. All indicators confirm that Istanbul is a fertile environment to enter this field, and the experiences of investors and former businessmen confirm this.

When you buy a property in Istanbul with a value of 400 thousand US dollars or more, you will be able to apply for Turkish citizenship, which is one of the most important and powerful nationalities in the world. Also, you must keep the property for at least 3 years, and during that period you cannot dispose of the property, you will have the opportunity to rent it to take advantage of huge and large returns throughout the year, especially in the tourist seasons, where the demand for real estate increases greatly, and therefore you will not find your property devoid of tenants.

 

Second: Many and important facilities:

The Turkish government did not hesitate to provide all the facilities and incentives that help foreigners choose Turkey in general and Istanbul in particular, unlike the situation in European countries, which impose many difficulties that make the investor retreat from the decision to buy on their land.

One of the most important advantages offered by Turkey to foreigners is the possibility of obtaining a real estate residence permit, which is considered one of the most important and best types of residence in Turkey at all, due to the ease of obtaining it on the one hand and the possibility of renewing it annually on the other hand.

What you do not know is that this residence permit allows you to move between the Turkish states very easily without having to obtain a travel permit, and also it can be granted to all family members, i.e. the wife and children who have not yet reached the age of eighteen.

It cannot be overlooked that one of the general and main advantages that the investor will find in front of him is (the ease of procedures for owning real estate in Turkey), as well as the transfer of ownership and other routine details.

 

Third: The development of the transportation network:

You may think that the idea of ​​housing and residency in Istanbul is not good because of the large crowds that it witnesses and the high population density. One of the information that you do not realize is that Istanbul is one of the most crowded cities in the world and not only in Turkey.

But this is not considered a problem at all, as the transportation network and public transport have been greatly developed, which made it no less important in this aspect than the most important cities in the world and especially European ones.

Transportation lines were connected to all areas, and the areas were fed from the inside with buses and other types of transportation, and highways were built, which contributed to the ease of movement between places and regions with great ease without the need to spend a lot of time, fatigue and money.

The development of the transportation network in this way connected the regions of Istanbul with each other and became more like a single block, and this interconnection occurred between its Asian and European sections as well.

 

Fourth: It includes international universities:

Did you know that the city of Istanbul contains the most important and prominent public and private universities, which have achieved an important and advanced rank in the world, not only at the level of Turkey, and thanks to the efforts of those in charge of them, it was able to enter the global competition.

Students come to join these universities from different countries of the world, especially the Arabs, as they grant their holders certificates that are internationally recognized, in particular, by the European Union countries.

Add to your information that studying in these universities does not require a lot of costs, as it is superior in this aspect to the universities of Europe, which are difficult for the student to study in because of the high costs that they demand on the one hand and on the other hand because of the harsh conditions that they set.

 

Fifth: Important tourist attractions:

Istanbul is one of the most important cities in the world in terms of tourism, as it annually attracts thousands of tourists from different countries of the world to visit its tourist, historical, archaeological and natural sites that are distributed throughout.

Tourism in Istanbul is not only limited to historical and ancient places, but also has many modern destinations such as huge and high-end malls that attract many Turkish and foreign people.

 

Sixth: A large real estate diversification:

Certainly, you have heard about the great real estate diversity that characterizes Istanbul, where you must find options that suit you in terms of specifications and prices as well.

One of the most important options that are in great demand in that city are the apartments of residential complexes that are characterized by luxury, sophistication and modern designs, and are also provided with many important service and recreational facilities that help to get a different life than usual.

 

Seventh: Moderate real estate prices:

Despite all the advantages that this city enjoys, its prices are considered low and very appropriate if we want to compare with the prices that you will find in similar European cities in terms of status and importance.

According to a report issued by the American newspaper The Times, prices in Turkey in general are significantly cheaper than real estate prices in the eastern part of Europe and a high percentage of up to sixty percent, and it is also cheaper than real estate in the western side of Europe by an imaginary degree of up to ninety percent.

In addition to the appropriate prices, real estate in Istanbul is characterized by high quality and international specifications, as construction companies build them in compliance with international quality standards.

 

Investing in commercial real estate in Istanbul:

If you are interested in entering the field of commercial real estate investment in this city, you should know that this is one of the most correct choices that you can choose according to the factors and advantages that this city is known for, the most important of which are:

1 - The prices of this type of real estate are constantly increasing, with the huge demand for it, especially in the tourist seasons, and also as a natural result of the high population density witnessed by the city.

2 - Commercial real estate is one of the indispensable basics in any society, especially if we are talking about Istanbul, which attracts thousands of foreigners to it from all over the world throughout the year.

3 - Commercial real estate can be invested in more than one way, the first of which is: renting the property to obtain a distinctive and stable monthly return throughout the year, and also reselling the property again after a period of time, the prices are constantly rising, and therefore your capital is also increasing.

 

Real estate prices in Istanbul:

We cannot offer you fixed prices, as you know they are constantly changing, but we must put before you some main lines that those who are about to buy a property in Istanbul should take into consideration, and through the following paragraph we will refer to them in detail.

First of all, you should know that real estate prices, whether in Istanbul or in other Turkish states or in other countries of the world, are based on basic pillars that must be carefully observed when buying real estate, which are as follows:

The location of the property is of great importance in influencing its price, as the more distinguished it is, this contributes to the property being of higher value, and its price is constantly rising as well.

The proximity and distance of the property from service facilities such as public transportation - schools - universities - malls - tourist places - entertainment places.

The proximity of the apartment and its distance from the city center, the closer the location of the apartment is to its center, this contributes to the higher price of the apartment.

Did you know that apartments or residential complexes close to the metrobus line, the prices of apartments and real estate are somewhat higher than those far from it?

The prices of real estate and apartments in suburban and rural areas are cheaper than properties in central areas.

 

How to buy an apartment in Istanbul?

One of the important questions that we receive from our customers is about how to buy apartments in Istanbul. Is there a specific mechanism that must be followed? What are the reliable financing methods?

In fact, you are faced with several ways to buy real estate in that city, which are as follows:

Buying an apartment in installments:

If you want to buy an apartment in that city, but you do not have the price to pay once, you can choose one of the many installment offers that construction companies are keen to offer from time to time.

Buying an apartment in installments in Istanbul is a great opportunity, for whoever does not want to own real estate in that city, but does not have a sufficient financial budget to make him take this step, as the ownership in installments allows you to pay the full price of the property in the long term, as the years available to complete the full amount may reach 10 Years.

 

Buying an apartment under construction:

One of the important options available to you when you are about to buy a property in Istanbul is to buy an apartment under construction, as its prices are cheaper than ready-made properties, in addition to the many important and varied options that you will find in front of you.

One of the most prominent advantages of choosing this type of apartment is that you can add your own touches and details to suit you.

 

Learn about the most important areas of Istanbul:

Have you ever seen the most important areas suitable for buying a property in Istanbul? Its location on two continents puts you in front of many distinct options, and through the following paragraphs, you can see the most important ones and the most prominent details related to them.

Real estate in Basaksehir:

One of the most important areas in European Istanbul (Başakşehir), which is characterized by a set of positives that made it the focus of everyone's attention without exception, and through the following points you can see them in full:

Its location on the European side makes it close to the city's most important infrastructure projects.

It is expected that real estate prices in that area will rise after the completion of the construction work of many projects close to it, such as the new Istanbul Canal.

It has many important service and recreational facilities, such as Basaksehir Medical City, which is one of the largest hospitals in the world.

 

Apartments for sale in Beylikduzu:

This area is located on the European side of the city and has a view of the Marmara Sea and Buyukcekmece Bay.

The Metrobus line passes through it, which contributed to the high value of real estate investment in it.

It contains a lot of important educational facilities, schools and universities.

It was called the modern urban face of Istanbul because it includes many modern and high-end real estate projects.

It includes many important malls and shopping centers such as Marmara Park Mall.

It has many important hotels and restaurants.

Real estate in it varies greatly, as there are apartments, residential complexes, and villas.

Many real estate investors consider it a good and privileged start in order to build unlimited wealth.

 

Luxury Beyoglu Real Estate:

In this area, you will find the urban heritage combined with modern features in a harmonious and surprising way.

It is located specifically between the Bosphorus and the Gulf of the Golden Horn.

It is only 40 square kilometers away from Istanbul's new airport, which has increased the importance of real estate investment.

It contains a full range of important services and recreational facilities.

Don't forget that Beyoglu has the longest street in Turkey which is the famous Istiklal Street.

There are the most important international schools and high schools.

It is considered one of the most important areas suitable for real estate investment.

 

Properties for sale in Umraniye:

This area is located on the Asian side of Istanbul and is one of the most rapidly urbanized areas.

Recently, many construction companies have gone to it to build the most luxurious and prestigious real estate and investment projects in it.

It is characterized by a high population density.

It contains the Istanbul International Financial Center.

It is one of the central areas of the city.

The Turkish government is always working to develop its infrastructure.

If you choose to buy a property in Umraniye Istanbul, you will learn about urban luxury in its true form.

 

Specifications of the right property for real estate investment in Istanbul:

When you are in the process of buying a property in Istanbul for real estate investment, you have to see all the appropriate specifications so that your property is suitable for obtaining an abundant and high profit.

Here is the most important information you should know about this:

The location of the property should be strategic and close to public transportation.

Choose new properties, their prices are constantly increasing.

Look for areas experiencing rapid urban growth.

Check the legal status of the property well, it should be free of legal problems such as seizure or foreclosure.

 

Related articles :
The guide of real estate investment in Turkey 2022
Latest updates on Turkish citizenship and real estate residence
Luxury apartments for sale in Istanbul
How to obtain a Turkish passport?
The journey of looking for apartments for sale in Istanbul
Houses for sale in Turkey in installments
Villas for sale in Istanbul
Best offers for apartments for sale in Turkey 2022
How to obtain Turkish citizenship by real estate investment?
Steps to buying an apartment in Istanbul
Tourist Residency and Real Estate Residency in Turkey
The best real estate investment areas in Istanbul
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