How to Buy Property in Istanbul 2023

How to Buy Property in Istanbul 2023

 

Table of Contents:

1. Why Buy Property in Istanbul?
2. Buying Property in Istanbul for Investment
3. Buying Property in Istanbul for Residency
4. Reselling Property in Istanbul
5. Renting Property in Istanbul
6. Important Landmarks in European Istanbul's Best Projects
7. Important Landmarks in Asian Istanbul's Best Projects
8. Steps to Buy Property in Istanbul
9. Tips for Buying Property in Istanbul

 

When you visit Turkey's city, it's like strolling through its ancient alleys, witnessing its long history through the ages. The rustle of its trees and the fragrance of its breeze narrate the lively tale of its heritage, taking you on a charming journey through the embrace of nature and transporting you through time.

 

Why Buy Property in Istanbul?

 

Real estate in Istanbul remains the best among its European counterparts. As per info from American Times, Turkey's property prices are 50-60% lower than Eastern Europe and 80-90% lower than Western Europe . Additionally, they yield rental returns of around 5.4%, the highest among Mediterranean countries.

 

Buying Property in Istanbul for Investment

 

 

Consider investing in Istanbul due to the easy property ownership process and attractive prices, even if you don't plan to live there. It serves as a secure portfolio to preserve your funds. Istanbul's property prices are rising because of urban development, strong infrastructure, and the Turkish government's emphasis on construction projects.

Additionally, the country's economic strength and political stability provide a promising outlook for residential apartment prices to remain stable and gradually rise.

 

Buying Property in Istanbul for living

 

Turkey's central location between East and West, along with its global openness while preserving Islamic heritage, makes it an ideal city to buy an apartment for residence. It provides a safe and stable environment for families and ensures a nurturing atmosphere for children.

Furthermore, Turkey's economic openness has attracted diverse business projects and entrepreneurs, leading many to own apartments for convenient stays and business management.

 

Reselling Property in Istanbul

 

 

The 2012 law permitting foreigners to own property in Turkey, along with other investment laws, has eased property resale. This has led to a rapid development in Turkey's real estate sector, with apartment prices expected to rise by %60 to 90% over the next five years.

We have extensively discussed investment and profit in Turkish real estate in a full article. [Click here to read the full article.]

 

Renting Property in Istanbul

 

More people moving to Istanbul for settlement and job opportunities, particularly due to living conditions in neighboring Arab countries, motivates investors to buy apartments for sale in Istanbul with the aim of renting them out.

Istanbul's universities attract many Arab and international students looking for stability and unable to buy their own homes, especially with the availability of English-language programs.

 

 

view available properties in Istanbul

 

European Istanbul's Best Projects and Important Landmarks

 

The European part of Istanbul stands out as the nerve center of commercial life and a hub for many businesses and projects. Beyond being one of Turkey's most tourist-attracting cities, it is in this area that the journey to explore this beautiful city begins. Sultan Ahmed is a distinguished area, retaining the character and grand heritage of the Ottoman state in its structures. The hotels are known for providing a pleasant and serene stay, offering a fantastic experience of life in Turkey with all its exquisite details.

This area features one of the most beautiful mosques, often called the Blue Mosque (Sultan Ahmed Mosque), and Hagia Sophia Mosque. These landmarks bear witness to the various civilizations and religions that this city has embraced.

Taksim Square and Istiklal Street are among the most vibrant and tourist-crowded streets. It is one of the upscale streets full of restaurants and markets, adorned with historical buildings. Tourists from all over come here to buy souvenirs and delicious Turkish sweets from one of Istanbul's famous streets. You cannot visit the city without passing through it, tasting the most delicious foods in its restaurants along the street. Complete your journey by reaching the Galata Tower, a prominent symbol of the city. Enjoy your coffee in charming cafes overlooking some of the greatest historical structures.

Ortakoy is one of the most elegant and renowned areas with its luxurious hotels and restaurants. Once known as the sultans' retreat, this place boasts charming natural beauty and overlooks the Bosphorus Strait, making it one of Istanbul's most strategically located areas.

Levent stands out with its high-rise buildings, featuring many skyscrapers. Known for its commercial malls featuring the latest and most sophisticated architectural designs, Levent hosts a collection of the world's famous brands. The strong infrastructure in the area attracts tourists, and investors are keen on buying properties due to ongoing urban development. If you delve into its alleys, you'll be enchanted by its streets with a wonderful blend of historical heritage and modern architecture.

Fatih, a prime tourist destination for Arab visitors, displays its historical grandeur through its walls and Ottoman mosques. Within its alleys and walls lies the story of the Ottoman Islamic civilization, placing it at the forefront of the most historical and touristic areas.

Today, cities near the route of the new Istanbul Canal are attracting investors due to the anticipated development. The canal's route will start from Lake Kucukcekmece on the Sea of Marmara, passing through Avcilar and Basaksehir, known for their cultural landmarks, famous squares, and extensive parks. The canal will stretch to the Black Sea, reaching the distinguished area of Arnavutkoy. Known for its simple rural character, it is one of the most popular tourist destinations with its colorful Ottoman wooden palaces.

 

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Here are the best projects available in the European part. [Click here] for more details.

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Asian Istanbul's Best Projects and Important Landmarks

 

On the Asian side, Kadikoy is one of the most poetic areas and the first choice for tourists on the Asian side. The Uskudar region, with its magnificent view of the Sea of Marmara and the Mediterranean, is renowned for its famous restaurants that serve delicious Turkish dishes, particularly seafood.

In Asian Istanbul, you find all the components of a peaceful and beautiful life. It provides numerous choices for luxurious apartments constructed with the highest interior and exterior finishing standards. The area stands out with its extensive greenery, embracing residential complexes and buildings.

Its landmarks are distinctive and unique. The Maiden's Tower (Kız Kulesi) stands as one of its most beautiful landmarks, located on a small island in the heart of the Bosphorus at the southern entrance to the Bosphorus Strait. It has served as a backdrop for numerous cinematic scenes and has become an integral part of Turkish heritage, surrounded by ancient legends.

Opposite the fame of Istiklal Street in European Istanbul, Baghdad Street in the Asian part rivals its importance. It is a popular tourist destination with its array of restaurants, cafes, and numerous international brand stores lining the street. Independent buildings along the street carry an air of luxury and sophistication.

This street's significance dates back to the Ottoman era when it functioned as a commercial and military transport route connecting Constantinople and Anatolia. It evolved into a major center for the residences of the wealthy, with Pashas during Sultan Abdul Hamid II's reign competing to acquire land around the Sultan's Palace.

From the list of beautiful landmarks, let's highlight Bride's Hill, one of the highest hills in Istanbul, named for the many young couples who choose it to celebrate their weddings. It offers a distinctive view of Asian Istanbul with its minarets and neighborhoods scattered amid nature.

 

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Here are the best projects available on the Asian side. [Click here] for more details.

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Steps to Buy Property in Istanbul

 

 

Begin by defining your goal—whether it's obtaining citizenship, seeking a quick return on investment, or aiming for residence and settling in this beautiful city.

A trustworthy real estate agent is essential to guide your decision-making based on your budget, preventing unexpected additional fees that might exceed your affordability later on.

Choosing a real estate consultancy company is not an easy task, but it's necessary. Conduct research and gather insights into customer satisfaction about the level of services provided by the company you plan to engage with. Contact us, and we'll be at your service.

The significance of any investment prompts investors to pack their bags and tour Turkey. Experiencing projects firsthand enables a deeper understanding, ensuring that investment decisions are based on genuine study and knowledge of the situation on the ground.

Selecting Damas Group as your real estate agent guarantees comfortable tours in our luxurious cars to explore Turkey's most renowned regions and projects, catering to the preferences of investors, regardless of their budget.

If you discover the property you wish to own, don't hesitate to pay a deposit (a financial portion of the total property price) to reserve the property and lock in the price at that moment, unaffected by fluctuations in exchange rates.

At this stage, your real estate agent will assist you in preparing the necessary documents to finalize the purchase process. After completing all the documents, the process moves to the final stage of ownership procedures. You'll get a tax number, open an account with one of the Turkish banks, and secure the building license and necessary approvals for property registration. At this stage, the property's title deed is finalized after paying the full property value, and then you become the new owner of your dream home. Contact us today, and we will assist you.

 

 

Tips for Buying Property in Istanbul

 

Firstly, Make Informed Choices:

Pay attention! The cost of reserving a property is non-refundable, so once you commit, there's no turning back. Take your time to decide after thorough research and thought. This isn't something you do every day, and you wouldn't want any regrets.

Istanbul offers numerous options catering to all needs, whether for a dream home or real estate investment in Turkey. The initial search might be tiring, but the joy and satisfaction of making the right decision will follow.

Secondly, Ensure the Real Estate Company is Trustworthy:

Make sure the real estate company you're dealing with is credible and has extensive experience in the Turkish market.

Thirdly, Clearly Define Your Preferences:

Always articulate your preferences, and make sure your real estate agent understands the lifestyle you aim to achieve.

Fourthly, Visit the Location:

You'll acquire a tax number, open an account with one of the Turkish banks, and secure the building license and necessary approvals for property registration. Familiarize yourself with the area. If your goal is to settle, exploring the surroundings, restaurants, and nearby facilities is ideal. Remember, you're buying a lifestyle influenced by its social environment, not just an apartment in isolation.

 

About Damas Group Real Estate:

When you choose to work with Damas Group Real Estate, you get your personal consultant for life.

At Damas Group Real Estate, we value building strong relationships with our investors. We don't just sell you a property; we accompany you throughout your investment journey. From the moment you decide to invest, we embark on the search together, attentively listen to your needs, and offer a comprehensive study with all the crucial details. Our aim is to ensure you make the best investment decisions in Istanbul and other renowned Turkish cities.

We discuss all options with you, take you on free tours of various projects, and once you identify your optimal investment, we guide you step by step through all legal procedures and documents related to owning your desired property. We handle your investment portfolio, assist you in reaching your financial goals, and keep you informed about the latest updates in the real estate market.

Earning and maintaining our clients' trust is our utmost priority, establishing us as one of the most reliable and professional real estate companies.

 

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