Important steps and tips when buying property in Istanbul

  • Created At: September 4, 2021
  • Updated At: September 4, 2021
  • Category: General
  • Views: 2567

Turkey is distinguished by its real estate projects and luxury residential complexes, which are equipped with all kinds of services and luxury. If you look at their prices, you will be surprised that they are very cheap compared to real estate prices in other countries. There is no doubt that Turkey is a prosperous and developed country, and everything in it makes you wish to live in it and own an apartment for yourself.

Buying an apartment in Istanbul is a dream of many in Turkey, and it is an easy thing, but it needs full attention to the purchase details and the necessary procedures for this, in terms of steps, prices, and appropriate ways to buy property in Istanbul, in addition to how to know the best area to buy an apartment in Istanbul .

• The most important points that may attract you to buy an apartment in Istanbul

o Istanbul is one of the vital cities suitable for businessmen and investors, and for those wishing to open commercial and investment projects, so this category considers having an apartment in Istanbul in their name is important to facilitate their stay in it, and to provide a safe and calm atmosphere for them while they are there.

o The population of Istanbul is increasing dramatically and the need for housing and stability is self-evident, which encourages investors to own apartments in Istanbul and rent or invest in various types of real estate investment available.

o The conditions of life in Istanbul, study and work are very encouraging to settle there.

• Advantages of buying an apartment in Istanbul

o The presence of all the real estate options desired by any searcher for an apartment for sale.

o The strong infrastructure of Istanbul, which contributes to improving real estate prices and significantly increasing real estate price growth rates.

o Real estate prices in Istanbul are encouraging, competitive and diverse.

o Facilitating procedures for real estate ownership. In every municipality of Istanbul, there are government institutions and agencies that run real estate ownership, fix the title deed and all the legal procedures necessary to complete the ownership of the apartment.

• Fees you need when buying a property

o Real estate appraisal fees:

Before you buy the property and transfer the ownership in your name, you must go to an approved appraisal company to send a licensed appraiser and write an integrated report on your property and check whether it is legal or not, whether it has debts or not, how much its real price .

o Tapu transfer fees (title deed)

The Tapu is transferred to the General Directorate of Land Registry and with your presence and the presence of the seller, and you pay a tax of 4% of the total real estate price to transfer the Tapu.

o Real estate agent fees

When buying a used and resale property in Turkey, a commission of 3% must be paid to the registered and licensed real estate agent, in addition to the value added tax. Sometimes, the property seller may charge the real estate agent's fee to offer his property at the best price. Thus, there is no need for the buyer to pay it.

o property tax

There is a property tax that must be paid to the government agencies, in order to improve the area's services such as water, sewage, electricity, security, fire services, etc. The annual tax value is usually 0.01% to 0.05%, depending on the type of property, whether it is residential or commercial, and depending on the nature of the area, whether it is urban or non-urban, as well as according to the municipality.

o Monthly maintenance fee

When buying an apartment in luxury and shared apartment complexes or buildings, monthly maintenance fees for utilities and services, such as escalators, surveillance cameras, swimming pools, security guards, cleaning workers, garden maintenance, etc., must be paid. It is a simple fee and its value depends on the residential complex and the services provided. There is no fixed price.

Each area of ​​Istanbul is suitable to be the best area for real estate ownership, but these areas are differentiated according to the buyer's desire. For example, if you want to buy an apartment for your family, you must go to certain areas and the best options for that are Bahcesehir or Beylikduzu and Basaksehir. If you want to take A real estate for investment purposes, there are also suitable options for this direction, the most important of which are the Fatih and Bagcilar areas. But if you want to own an apartment in an upscale area, you should go to Sisli or Sariyer.

As for those who want to buy a cheap apartment in Istanbul, they can find their request in Esenyurt or in the neighborhoods of the Asian side of Istanbul.

In the end, we note that Istanbul is one of the most important cities that are targeted at the real estate level, and it witnesses a heavy demand and contributes to increasing competition in the real estate market, as it is the focus of attention for many who wish to own a property in one of the best cities in this field.

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