Turkey is famous for its hospitality and distinguished geopolitical location, which makes it an important center for attracting local and international investors in many sectors, including tourism and real estate investment. One of the important reasons why investors prefer Turkey is certainly the beauty of its nature, as it combines between the nature of Asia and Europe. This has made it the main interest of foreign investors in general and turned it into an open country to investment.
Before taking your first step in owning real estate in Turkey, there are a few steps to consider, starting to define the city and then finding the perfect neighborhood to buy a property. There are many places to invest in and have similar characteristics, so you would have so many choices.
According to the real estate market statistics and indicators, finding a suitable property in good locations where you can rent or resell the apartment, would return your capital in a short time. In this article, we will mention, to you, seven steps to buying a property in Turkey, as follows:
Compare the options offered
It is certain that you will have many options that include varying features among them. This matter will be very important for buyers because the options in front of them will decrease and they should be able to limit their options to specific properties.
After a number of available options to the buyers, they will be able to compare the offers presented to them in terms of price, payment method, geographical location and the availability of services around the property.
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Make a good search for a property with the required features
There are many different forms and methods for research in this regard. You can search on your own or you can consult a professional real estate company that can save your time and effort and come out with results that will be better than what you will get alone. This is due to the long experience they have to get the results you desire.
In general, you should search well for the appropriate property according to the budget that you have allocated to purchase the property, while searching for real estate companies and consultants that you will deal with. It is preferable to contact them and collect the necessary data and information you need.
Prepare all documents required for purchase
A copy of the buyer's passport translated into Turkish.
Two personal photos of the buyer.
The buyer’s tax number which is obtained from the tax department located in Istanbul or the city in which the purchase was made. This number is given to every foreigner in Turkey to facilitate all legal matters and transactions.
Inspection before buying a property
After you select a number of appropriate initial options, it is preferable that you visit Turkey and take a field tour to see the real estate you have chosen on the ground and match the specifications you had with it.
Ensuring legal procedures
These procedures come after you have finally chosen the property you want. So, it is preferable to check the legal status of the property, the presence of the real estate appraisal report, verify the title deed department, and make sure that the property has no debts or problems that could prevent the purchasing process or expose you to loss or unexpected fines. At this stage you can seek the assistance of an expert legal agent who would conduct the legal study.
Buying the property
After ensuring the proper legal status of the property, agreeing on the full terms of payment and delivery, and after consulting with your legal agent, you can pay the required amount or part of the amount according to the agreement, and follow up the procedures for transferring ownership.
Receipt of the property title deed (Tabu)
This is the final step to complete the process of buying a property, as this document proves your ownership of the property. This comes after completing the cost of your financial and legal obligations towards the country and towards the real estate company, with the need to identify the type of title deed, whether it is temporary or permanent.
The best neighborhoods in Istanbul to buy real estate
Istanbul is the commercial and economic center of Turkey which makes it an incredibly diverse city. Therefore, any working or retired expat moving to Turkey can explore the many areas of Istanbul to find an ideal real estate investment destination. Over two decades, Istanbul has undergone a drastic change in its appearance. It has expanded outward to beautiful neighborhoods, providing expats with the benefits of city life away from any hassles. Here are some of the popular neighborhoods in Istanbul that you can consider for real estate investment.
Nisantasi is an expensive neighborhood with fine restaurants and shops. There are good options starting at $900,000. Noting that investing in Nisantasi makes you eligible for Turkish citizenship.
Cihangir is an artistic part of Istanbul where you will find artists and musicians streaming all over the city. If you are looking for a place where you are close to everything, you can search for properties in Cihangir.
Karakoy is called the "hipster" side of Istanbul. First of all, there are many cafes and restaurants in the streets, hundreds of people are enjoying life and living their modern lifestyle. Karakoy can really give you city vibes.
Taksim is one of the most central districts of Istanbul. This is where you will find a lot of ancient architecture. Some of the oldest mosques in Turkey can be found there. Being an older district, the architectural quality may differ in its neighborhoods.
Etiler is perfect for those who are looking for some luxury. There are many stylish cafés, popular stores and beautiful offices in this area. You can find a villa with a view of the Bosphorus or a luxury apartment in Etiler. However, note that it is one of the most expensive districts in Istanbul.
Other places in Turkey to buy real estate
Apart from Istanbul, there are other destinations that offer profitable real estate investment opportunities for foreigners.
Antalya is located in southern Turkey and is one of the most popular summer destinations for both locals and expats. According to the Turkish Statistical Institute (TUIK), today more than 100,000 foreigners live in the city.
With blue flag beaches, pleasant climate, and large expat community, Antalya is one of the best places in Turkey to buy property. While it has all the utilities that a major city would have. It also has the vibe of a coastal city. Antalya is the third most popular destination among expats who have decided to move to Turkey.
Ankara, the capital of Turkey, is another favorite among expats. Real estate prices in Ankara are cheaper than in Istanbul, so if you are looking to live in a big city but do not want to invest in large capitals, you can, for sure, consider Ankara! It also offers many shopping options.
We offer you our services in the field of buying real estate in Turkey in three stages, before buying the property, after purchasing the property, and during the purchasing process. We also provide you with the latest real estate offers, in Turkey, that go with your desires and the specifications that you desire, including suitable real estate, offers to obtain Turkish citizenship through real estate investment, and purchasing real estate in Turkey within a standard period of 90 days.
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