If you want to buy a property in Istanbul, there are many steps that you must take and that you must adhere to, and in this article we will talk about 6 main steps as well as highlight many other aspects related to the issue of buying in that city.
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Learn about the steps of buying real estate in Istanbul
In the following paragraphs, see some of the basic steps that you must follow when buying a property in Istanbul. It should be noted that it is necessary to adhere to them, as follows:
First: Determine the purpose of the purchase
If the purpose of the purchase is investment, you need to consider the following:
- The location of the property.
- Property Type.
- The price of the property.
- Rental income from the property.
- Possible estimation of the property.
If the purpose of the purchase is housing, you need to consider the following:
- The size of the property.
- Number of bedrooms and bathrooms.
- The location of the property.
- Amenities available in the area.
Second: Do field trips
You have to make field tours and visit the most important real estate projects available to search in this area. The need to choose a small or medium space for the property makes you have a wide idea of the most important available specifications, available options and prices as well.
Third: Preparing papers and documents
In order to buy a property in Turkey, the following documents are required: A copy of the buyer's passport translated and certified by a notary The passport is the only official document needed by any foreigner who intends to buy a property in Turkey A copy of a valid passport, certified and translated and university certificates issued by foreign countries And an appointment at the Land Registry Directorate to complete the procedures for transferring ownership.
You must also obtain a real estate appraisal document as well as extract the tax number from one of the tax departments near you.
Fourth: Use a reliable real estate company
We advise you to use a well-known real estate company with extensive experience in the real estate sector in Turkey, as its relations with construction companies are strong and can offer you the best offers and can help you choose the right property and the best area. Dealing with reliable real estate companies helps avoid falling victim to fraud or deception that may Some foreign investors are exposed to it.
Fifth: Study your financial budget
When you are looking to buy a property in Turkey, it is important to carefully consider your budget as there are a variety of expenses that you will need to account for and it is essential to have a clear understanding of your budget before making any decisions.
There are real estate experts who can help you break down the expected expenses and ensure that you do not run into any financial shortfalls during the buying process and do not forget that it is also important to choose a property that matches your budget and carefully consider your options, as choosing a wide property that fits your budget can provide a great deal of comfort and satisfaction.
Sixth: Request an analytical study on the reality of the market
It is important to request an analytical study of the market conditions. This step is very useful and necessary to make sure that you are making a wise investment. The market in Turkey is known to be unstable, so it is important that you have all the information before buying.
The report will provide key insights into the Turkish residential real estate market and help you make an informed purchase decision.
The most important advantages of buying real estate in Istanbul
The real estate sector in Turkey is now considered one of the best investment destinations, especially for Arab investors in the recent period, as they always seek to benefit greatly from the advantages of this matter:
- One of the most important advantages of buying a property in Turkey is lower taxes and lower real estate prices in Turkey.
- Various investment opportunities (industrial and commercial) that give you residency or citizenship: There are many investment opportunities in Turkey that grant you residency or citizenship, such as investing in the industrial or commercial sector.
- Istanbul is one of the most progressive and profitable cities in the world. The city has a lot to offer investors, from its picturesque location and beautiful architecture to its booming economy and rapidly growing population.
- Istanbul is strategically located, at the crossroads of Europe and Asia and the city is a major transportation hub, and its airport is one of the busiest in the world.
- It is also home to a large number of universities and colleges, giving your children the opportunity to study in a sophisticated and modern setting.
- The city is home to many of Turkey's most famous landmarks and is also home to a large number of museums and historical sites.
Will the real estate market in Istanbul grow in the future?
The real estate market in Istanbul is constantly changing and developing constantly, and with the city continuing to grow and develop, so is the real estate market.
One of the biggest changes we have seen in recent years is the increase in the number of foreign buyers in the city due to a number of factors, including the city's increasing popularity as a tourist destination, as well as its growing reputation as a business hub.
Another change we are seeing is an increase in the number of luxury projects being built in the city in line with Istanbul’s growing reputation as a global city, and also due to the fact that there are an increasing number of affluent individuals looking to buy property in the city and in general, the future of the real estate market looks Istanbul is very bright as the city continues to grow and develop at a rapid pace, and this is likely to continue in the coming years.
This is all that matters to you about the real estate market in Istanbul, where we have provided you with some of the most important information you need. If you have other questions and inquiries, do not hesitate before contacting our real estate consultants who will provide you with everything you need. You will also get a list of the most important offers and options available for sale to choose what suits you.
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