By Justin Mays:
Istanbul is an enormous city across Europe and Asia and has
39 districts. Out of these, the Asian side of the city consists of 14
districts, while the European side has 25 districts.
With its history spanning several empires, and its unique
status as the country's business hub, Istanbul is the first choice for many
expats looking to invest in Turkey.
The rapid development that this city has gone through has
caused a sharp rise in its real estate market value. Moreover, international
investors have been purchasing local properties to benefit from its status as
Turkey’s trading center. At the same time, many invest in modern residential
complexes located in Istanbul’s most eye-catching locations.
Are you considering buying a property in Istanbul too? Read
this guide by Prime Property Turkey to know what to look for when shopping for property in Istanbul.
Establish Your Requirements & Expectations
Before you start hunting for a property in Istanbul,
establishing what you want to acquire from it can help you make a valuable
purchase. Whether you want to rent it out later, resell it, or use it as your
residence, making your decision at the very beginning of the buying process is
crucial.
Look for a property in Istanbul based on these requirements
to ensure your investment fits your expectations.
Decide Which Area in Istanbul
As we mentioned earlier, Istanbul has several districts with
varying demographics. Some districts are older but well-sought-after and close
to the sea. Others are away from the center but undergoing significant
development and are on their way to boosting popularity.
Arnavutkoy, Bagcilar,
Avcilar, Beyoglu and Besiktas are some in-demand districts on the European
side. Moreover, many foreign investors flock to Basaksehir because of its
high-quality residential real estate options.
Areas such as Sisli and Kagithane on the European side are
better preferred by those who want to stay close to the central business areas
of Istanbul.
The most preferred destinations on the Asian side include
Kartal, Pendik, Kadikoy, Atasehir, and Uskudar. Istanbul real estate, in
general, is in high demand and is preferred for its impressive return
potential. Many expats are investing in the districts located on the outskirts
of Istanbul for their affordability and strong transportation links to the city
centre.
Explore these districts and choose one that can offer you
the desired environment and has all the facilities you expect.
Our blog post, "5 Reasons to Buy Property in Istanbul, Turkey,” highlights what Istanbul real estate offers investors.
Weigh Your Options
Examine all your real estate options in detail. Never settle
for pictures and ads with bold promises. Instead, you should visit the area and
see the project yourself.
Take a walk around the district and check out all the
neighborhoods to understand the environment of the property’s location. Check
if the property has all the specifications the ad claims.
Furthermore, even if a particular property catches your eye,
don’t end your hunt here; inspect a few more. This way, you can have several
ones to choose from and purchase the best one for your budget.
Run Proper Checks
This is a crucial step. When you think you have decided on a
property for sale in Istanbul, you must run proper checks. You have to ensure
that the property was constructed legally and that all its documentation and
paperwork are ready.
If you come across a property in Istanbul for an
unbelievably low price, it may be because it is missing vital papers. Such
issues can cause hurdles in acquiring the title deed after
purchase.
Additionally, ensure that the structure of the property is
earthquake-resistant. Since Istanbul is prone to earthquakes, the property you
purchase should withstand earthquakes to keep your investment safe.
So, before settling on the purchase, investigate and analyze
all the details.
Visit our properties for sale in Istanbul, Turkey, and explore all the prestigious flats, mansions, villas, and office units we have.
Work With a Trusted Real Estate Consultant
With the expansion of the real estate sector, many real
estate consulting companies have begun operating to serve foreign investors. It
is essential that you only work with a reputable real estate consulting company
that prioritizes your interest and satisfaction.
An experienced consultant has extensive connections in the
real estate sector and can help you find a great property, guide the buying
process, and strive to provide you with the best value.
Read our blog “Why You Should Consider a Consultant When Moving to Turkey,” which outlines all
the advantages of working with a real estate consultant.
Istanbul Real Estate Can Qualify You For Turkish Citizenship
This is also one of the major attractions for foreign
investors to buy property in Istanbul. If you invest a minimum of $400.000 in
Istanbul real estate, you can benefit significantly by applying for Turkish
Citizenship.
Watch Justin’s new video on Prime Property Turkey’s channel as he breaks down the latest changes in the Turkish Citizenship rules. Also, don’t forget to subscribe to our channel to stay updated on all things Turkish real estate.
Go With Prime Property Turkey
Our expert, multi-lingual team of consultants sets us apart
from the rest in the sector. We can provide you with various phenomenal
property options based on your requirements. Our team will make sure you have
an exceptional property-buying experience in Istanbul.
Additionally, we have an in-house legal team to take care of
our clientele’s citizenship applications once the purchase is completed. So
book your consultation with us now and get your ideal property.
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