Investment guide within the real estate market in Istanbul

Real estate investment in Istanbul is one of the most important areas of investment in Turkey at all, due to the uninterrupted need of people for housing and residence, and what supports your decision to invest in that city is that it is a destination for everyone looking for work in addition to students, tourists and other people looking for stability.

Its diverse areas are an attractive and fertile environment for investment based on the diversity of its characteristics and privileges. When you make the decision to invest in real estate in that city, you will need a comprehensive guide to accompany you in order to achieve the highest possible profits.

Through this article, we provide you with the most important information related to the real estate market in Istanbul. We wish you a useful reading.

How to start real estate investment in Istanbul?

You should know that there are many steps that must be taken in order to reach the right property for investment, which are as follows:

- The city of Istanbul includes 39 districts, meaning that the choice is not easy, but you will feel confused, so you have to know the importance of each of them and whether they are sutibale or not.

- Before buying a property in Istanbul, you must accurately determine the available financial budget. Is it sufficient or will you need to take a loan from a Turkish bank? In this context, you should know that if the property is residential, the bank covers 90% of the property value. Commercially, it covers only 60% of its value.

- The value of the Turkish lira in front of foreign currencies is one of the things that must be taken into consideration, and you should know that the more the value of the lira has fallen, the more it means that this is the best time to buy real estate.

- Real estate ownership tax is one of the annual taxes imposed on real estate owners in Turkey and is paid in two stages, which is 0.2% of the property value. The first payment must be paid in May of each year and the second in November.

- Whenever you want to sell the property, you must pay all the taxes incurred on it, because without that it is difficult to find a buyer, as no one prefers to buy a property that has debts and receivables.

The role of the real estate site in real estate investment:

What determines the success or failure of real estate investment is the investor himself, so he must be aware of the dimensions of every decision he takes. The most important factor that determines the success of this type of investment is the location of the property. The more important it contributes to the increase in its price over time, so it is always necessary to think about how to increase its value and attract customers to it.

If you want to rent a property, you should know that a large group of people are looking for apartments and houses close to their place of work or from schools and universities, as this guarantees you high returns.

But it should not be overlooked that many people prefer to live in a quiet environment away from the hustle and bustle and noise of transportation, so this matter must be taken into account and study the nature of the residents of the area and those coming to it.

Advantages of real estate investment in Istanbul:

These are among the most prominent advantages that you will get when investing in real estate in Istanbul:

Turkish Nationality:

During the past year 2021 AD, it was found that about 40% of those who chose to buy real estate in Istanbul were aiming to obtain Turkish citizenship because of the continuation of the program for granting this citizenship through real estate investment and the support they get, which is an exceptional system that is not found in any other country in the world.

Granting the foreigner that citizenship in this way is one aspect of government support, especially after the decision it issued in 2018 AD to reduce the price of the required property from one million US dollars to two hundred and fifty thousand dollars only.

Outstanding high return:

If you are looking for a distinctive real estate investment, Istanbul is one of the most distinguished cities in the world, and real estate investment in it has a guaranteed future. It includes many promising modern real estate projects. In addition, it is characterized by a developed infrastructure that leads to a constant rise in real estate prices.

Excellent properties at affordable prices:

Real estate projects in Turkey are designed according to the most important international quality standards and are completely safe (earthquake-resistant), their engineering designs are wonderful and often according to the smart system. Despite all its advantages, its prices are competitive and cheaper than the countries of the continent of Europe.

Steps to buying a property in Istanbul:

Once you have found the right property, you will have many steps that you must take in order for its ownership to be transferred to you, which are as follows:

1 - First, a security approval must be obtained, and it can be obtained easily and in less than a week. The aim is to ensure that the area in which the property is located is not security or military.

2 - In the next step, the sales contract between the seller and the buyer must be signed in the notary's office and in the presence of two witnesses.

3 - Do not forget that one of the most important conditions for buying real estate in Turkey is that it be paid for through a Turkish bank, so you must bring a receipt confirming this.

4 - Finally, the title deed of the property must be registered in the Land Registry Office.

Important tips when buying a property in Istanbul:

After all the previous information that we gave you in this article in order to buy a property in Istanbul and the importance of real estate investment, it has become necessary to provide you with some important tips and notes.

1 - The real estate market in Istanbul witnesses a wide variety and is important to suit different tastes and all budgets. If you do not have enough money to buy a luxury property, you can choose one of the areas that offer special offers at reasonable prices, such as Silivri or Beylikduzu.

2 - You should know that the areas that contain cheap real estate have few services and therefore will not achieve your goal of obtaining high profits.

3 - You should search in new areas that are witnessing a great urban expansion. In addition, you should search within the areas close to the mega projects in Istanbul, such as the new airport or the Istanbul Water Canal, and we recommend Basaksehir or Basin Express.

4 - It is important to use a real estate agent with experience and knowledge in the real estate market in Istanbul, as this will save you a lot of search, effort and fatigue. Hiring experienced people will prevent you from being a victim of real estate fraud because of your lack of experience or knowledge of the real estate sector in Turkey.

Real estate options in Istanbul:

Certainly you know that one of the most important reasons that encourage foreigners to buy real estate in Istanbul is the diversity of options suitable for all budgets and tastes without any exceptions, and through the following paragraph we review them in detail.

Ready-to-move-in real estate:

Many people looking for real estate and apartments for sale in Turkey choose ready-to-move-in properties for several reasons, the most important of which are:
-Lack of time to wait for the project construction work to be completed.
-In order to obtain the title deed directly without having to wait until you finish the due payments.
-A chance to get high discounts ranging between 10-20%.

Real estate under construction:

While another category of investors chooses to buy real estate that is still under construction, it is an ideal opportunity for real estate investment, and its most important advantages are:
- Low prices compared to the prices of ready-made real estate or apartments.
- You can control some of the details and put your own touches.
- You have the opportunity to make some adjustments in case something does not suit you.
- Their prices rise significantly after the completion of the construction stages by a large percentage ranging between 35 and 70%.
- These projects are widely available with varying specifications and prices.
Let us tell you that if you do not have enough money to pay the value of the property in cash, you can choose one of the many installment offers offered by construction companies.

Through this article, we have provided you with the most important information and details related to real estate investment in Istanbul, and we hope that we have provided you with benefits. If you have any questions, you can contact us to answer all your inquiries and provide you with the most appropriate offers.