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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