Own a property in Istanbul
Owning a property in Istanbul is still the best and most profitable investment in Türkiye. Therefore, in this article from Ebla Real Estate, we will provide a guide to own a property in Istanbul.
Own a property in Istanbul:
Being the first destination for tourists and investors, the city of Istanbul is characterized by the best infrastructure projects, urban expansion and urban renewal operations. Moreover, Istanbul has a wide and diverse range of properties for sale, including apartments, houses, shops and tourist facilities. Therefore, it is one of the most important areas suitable for owning property in Türkiye and the world.
Steps to own a property in Istanbul:
Determine the type of property and the purpose:
Before diving into the real estate market, clarity on the type of property and its purpose is crucial. Are you seeking an apartment, a villa, or a commercial space? Define whether it’s for personal use, investment, or a combination of both.
Determine your financial budget:
Understanding your financial capacity is the cornerstone to own a property in Istanbul. Calculate a realistic budget, encompassing not just the property price but also additional costs such as taxes and fees.
Relying on a licensed and reliable real estate company:
Navigating Istanbul’s real estate market requires a reliable guide. Choose a licensed and reputable real estate company with a proven track record to own a property in Istanbul. Seek recommendations, read reviews, and verify credentials to ensure a trustworthy partnership.
Working with a licensed company ensures adherence to legal and ethical standards in real estate transactions. Moreover, a reliable company streamlines the transaction process, minimizing complications and delays.
Region:
Istanbul is a city of diverse neighborhoods, each offering a unique charm. Identify the region that aligns with your lifestyle and preferences. Consider factors such as proximity to amenities, transportation, and potential for future growth.
Explore offers:
Once you’ve defined your region, start exploring property listings and offers. Dive into the market to analyze various options that match your criteria and budget. Keep an open mind and consider a variety of properties.
Real estate tours:
Get a feel for the properties by participating in real estate tours organized by your chosen company. Physical visits allow you to experience the neighborhoods, assess the surroundings, and envision your life in your potential new home.
Choose suitable property:
As you explore different properties, evaluate each one based on your criteria. Consider factors such as size, amenities, condition, and future potential. Choose the property that resonates with your preferences and meets your needs.
Ensure the integrity of the legal status of the property:
Before committing to a property, ensure its legal integrity. Verify that the property is free from encumbrances or legal issues. Engage legal professionals to conduct due diligence and provide assurance regarding the property’s legal standing.
Signing the purchase contract:
With the chosen property and legal clearance, proceed to sign the purchase contract. Ensure that all terms, conditions, and details are clearly outlined in the contract. This step formalizes your commitment to the property.
Procedures for transferring property ownership in Istanbul:
To own a property in Istanbul, the buyer of the apartment must come to Istanbul to conclude the purchase contract transaction, or to appoint a trusted person to act on his behalf, through an official agency from the consulate of the country of origin, or the Turkish embassy located there.
After having gathered all the necessary documents for the application, the buyer has to submit them to the Land Registry and Cadastre Office. Then, an appointment will be given to you by this same office for the final signatures.
Then both parties sign the title deed conveyance agreement, and finally, the officer of the Land Registry and Cadastre Office gives the printed version of the title deed to the buyer.
Advantages of owning a property in Istanbul:
- Istanbul is one of Türkiye’s largest and most important cities. It also has a vital and strategic location as a link between Asia and Europe.
- Moreover, Istanbul is a favorite tourist destination for Arab and foreign tourists.
- Istanbul is characterized by modern means of transportation, international universities, and ancient tourist attractions.
- Istanbul also includes ideal options, including luxury apartments for sale and distinctive properties.
- Additionally, the cost of living in Istanbul is relatively low compared to Europe and the region, with high quality and strong infrastructure.
- Istanbul city includes many urban expansion projects built to excellent standards.
- Istanbul also includes contemporary projects with the latest equipment and the best services.
- In addition, the buyer can obtain Turkish citizenship when owning a property worth $400,000, thus obtaining all rights and privileges as a Turkish citizen.
Tips to own a property in Istanbul:
- Search for the appropriate property, by taking into account the main factors that increase the value of the property, such as the vital location, area, and view.
- Moreover, rely on a reliable real estate company to own a property in Istanbul.
- Furthermore, ensure the integrity of the legal status of the property in Istanbul, Türkiye.
- If your goal in owning a property is investment, you should search in modern, developing areas and urban renewal neighborhoods.
- In addition, start your project with small and medium-sized properties or properties under construction, as they have a cheaper cost and faster investment.
Thus, we provided a guide to own a property in Istanbul.
Edited by: Ebla Group Real Estate
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