Buying property in Istanbul guide, Buy Turkish home tips, Turkey residential purchase advice
What you need to know when buying a property in Istanbul
27 September 2022
Buying a property in Istanbul, thanks to the large set of advantages that this city is known for, is one of the first options for any investor who intends to start investing in Turkey. The source – https://turk.estate/en/ – gives the information about the significant details related to the purchase and ownership of real estate in Istanbul, which will be useful to novice investors.
Why buy real estate in Istanbul
Istanbul is a center of attraction for investors and entrepreneurs from all over the world. The main reasons that encourage foreigners to buy real estate in this Turkish city are described below.
Real estate investments
One of the first reasons pushing foreigners to buy real estate in Istanbul is a great desire to enter the real estate industry, which opens up opportunities for high and stable profits. All indicators confirm that Istanbul is an ideal environment for starting an investment path. According to some reports, the average rental yield in Istanbul is 4.3-5% per annum.
Housing and stability
One of the most noticeable motives that encourage foreigners to buy real estate in Istanbul is that this city is one of the most comfortable in the country for a long stay. It combines all the elements of a comfortable life, including excellent infrastructure: schools, hospitals, medical centers, shopping centers and others.
Citizenship
One of the main purposes for which a foreigner chooses to buy real estate in Istanbul is a great desire to obtain Turkish citizenship. According to statistics conducted last year, more than 40% of those who bought real estate in this city did so in order to obtain a Turkish passport.
Advantages of buying real estate in Istanbul
Istanbul offers many advantages that you will get thanks to this, and this is exactly what encourages any foreigner or investor to buy real estate in it, and not in other Turkish cities.
Profitable investment in real estate
All indicators confirm that Istanbul is a favorable environment for entering this sphere, and the experience of investors and businessmen confirms this.
When buying a property worth USD 400,000 or more, you can apply for Turkish citizenship. The important condition is that you must own real estate for at least 3 years, and during this period you cannot resell the object, otherwise citizenship will be revoked.
Residence permit
The Turkish government has provided all the amenities and incentives that help foreigners choose Turkey as a permanent place of residence and investment. One of the most important advantages offered by Turkey to foreigners is the possibility of obtaining a residence permit for real estate, which is considered one of the most important and best types of residence in Turkey in general, due to the ease of obtaining it, on the one hand, and the possibility of its annual extension, on the other.
A residence permit allows you to easily move between states without the need to obtain a travel permit, and it can also be provided to close relatives.
Excellent transport accessibility
At first glance, it may seem that living in Istanbul is difficult because of the high population density. This is partly true. Istanbul is one of the most crowded cities in the world, and not only in Turkey. However, developed public transport helps to neutralize this problem.
Transport lines have been connected to all areas, which in turn also function well thanks to bus service and other modes of transport.
Many international universities
Istanbul is home to the most important and outstanding public and private universities, which have reached a high level only at the level of Turkey, but also in the world.
Students come to enroll in these universities from around the world, especially from Arab countries, because they issue certificates to their holders that are internationally recognized, in particular, by the countries of the European Union.
Studying at these universities does not require large expenses, as it surpasses European universities in this aspect, where it is difficult for a student to study because of the high cost of tuition, on the one hand, and on the other hand, because of the harsh conditions they set.
Important tourist attractions
Istanbul is one of the most important cities in the world in terms of tourism, as it attracts thousands of tourists from different countries every year. It offers various tourist, historical, archaeological and natural attractions that are evenly distributed throughout the territory.
Tourism in Istanbul is not limited only to historical and ancient places, but also has many modern destinations, such as huge shopping malls that attract many Turkish and foreign tourists.
A wide range of real estate
Of course, you have heard about the wide variety of real estate that characterizes Istanbul. Here you can find options that will satisfy almost any customer’s needs and will be affordable.
One of the most important options in high demand in this city are apartments in residential complexes, which are characterized by luxury, sophistication and modern design. Modern projects are equipped with a variety of important services and leisure facilities that take the comfort level to a new level.
Moderate real estate prices
Despite all the advantages that this city has, its prices are considered low and very suitable, in comparison with the prices that European cities offer. According to a report published by the American newspaper The Times, prices in Turkey as a whole are significantly cheaper than in the eastern part of Europe, and also cheaper than real estate in the western part of Europe.
In addition to the appropriate prices, real estate in Istanbul is characterized by high quality and international standards, as construction companies build them in accordance with international quality standards.
Investments in commercial real estate
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 options that you can choose according to the factors and advantages that Istanbul is known for, the most important of which are:
- prices for this type of property are constantly growing in proportion to demand, especially during tourist seasons;
- commercial real estate is one of the indispensable foundations in any society, especially when it comes to Istanbul;
- commercial real estate can be invested in several ways: to make a profit for the purpose of renting or for resale.
Start searching for your houses for sale in Mahmutlar or any other area of Turkey on Turk.Estate website!
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