The demand for owning a property in Istanbul is increasing day by day, due to the advantages offered by the Turkish government to property owners in Turkey that it offers them the opportunity to obtain real estate residency for themselves and their families and they can obtain Turkish citizenship if the price of the property is not less than 250.000$, and the opportunity of obtaining a strong passport globally like the Turkish passport, after the acquisition of Turkish citizenship. In addition to that, Turkey is a safe, comfortable and beautiful place, where the investor can live well and happy, and create an opportunity for the children who are the future builders to study in the Turkish universities, with the availability of international schools in various languages and scientific references.
Details and laws of Turkish citizenship in the following link: Turkish Citizenship
The Turkish economy has developed over the past few years with unprecedented growth rates, as a result, real estate prices in Istanbul have been heavily impacted in 2017 and 2018, and the demand for foreign investors, especially Arab investors, increased significantly, where they were attracted by the lower of real estate prices in Turkey compared to real estate prices in Arab countries and Europe. In addition, the residential projects in Turkey compete with quality and beauty similar to those in Europe in many aspects, such as interior decoration, materials used in construction, and the natural surroundings of gardens and green spaces and charming sea views.
Arab and foreign investors prefer to buy investment properties in Istanbul, as it is a promising city in the field of real estate investment and that has attracted a lot of leading energies in recent years. In the sun, the British real estate magazine, has reported that Turkey ranks among the top 10 countries to buy property for 2017, while Turkish Statistical Institute data shows that foreigners prefer to buy property in Istanbul.
In Istanbul, your options are expanding the city itself, and this may be evident in a quick comparison between the prices of cheap apartments for sale in Istanbul and those considered to be luxury properties, where prices vary according to several factors such as the location of the property. Prices in the European section of Istanbul differ from the Asian section, and prices also vary within the same region. Transportation also provides a direct impact on the prices of surrounding houses in a large city such as Istanbul, houses located in residential compounds on highways, or near metro stations, for example, prices will undoubtedly be more expensive, and social services and facilities, such as the availability of schools and universities Hospitals and government departments have a direct impact on house prices in Turkey and Istanbul. The condition of the property and whether it is ready for delivery or under construction and the payment methods are factors affecting the prices of apartments in Istanbul.
Istanbul real estate investment is characterized by pioneer on other real estate investments, and other investments in general, where the areas and tools of successful investment vary, and it composed of various components, such as investment in the stock market, investment in the industrial or agricultural, commercial investment, or real estate.
Real estate market in Turkey in general, and in Istanbul in particular, is witnessing a boom and development, seen in the figures and statistics issued by the competent institutions, where a previous statistic showed that the number of properties sold in Istanbul city alone during the month of September this year has reached 8.347 properties. Istanbul is one of the biggest selling points with the best real estate investment in Turkey and the Turkish real estate market within the budget of most investors.
Real estate investments are usually structured in one of two cases:
1. Investment in commercial real estate:
As investment in types of non-residential property, and under this type of investment there are many forms, such as: commercial offices, shops, industrial real estate, and the development of agricultural land.
2. Investment in residential real estate:
It is an investment in properties used for residential purposes only, such as villas for sale, apartments and houses for sale.
Real estate investment in Istanbul in all its forms is a successful and proven real estate investment in terms of revenues and profits, but provided that the necessary measures and the conditions of success.
The essences of successful real estate investment
Real estate experts agree that most types of real estate investment are always successful and profitable, and their argument that the need for housing, office and other real estate goods on the rise constantly and non-stop, and the need for real estate in all its forms is not the result of a current moment or season ends at some point. However, it is the demand for real estate that varies from time to time according to various factors.
Also, it is no secret that successful real estate investment needs many elements to ensure the best results, the most important rules of successful real estate investment: choosing the most active real estate site, and the most profitable, to choose your place of investment carefully within the promising modern areas, is one of the most important elements of successful real estate investment, because these areas doubling the price of real estate rapidly over time, which is a real profit and accelerated for investors.
Also, it is no secret that successful real estate investment needs many elements to ensure the best results, the most important rules of successful real estate investment: choosing the most active real estate site, and the most profitable, to choose your place of investment carefully within the promising modern areas, is one of the most important elements of successful real estate investment, because these areas doubling the price of real estate rapidly over time, which is a real profit and accelerated for investors.
The prices of apartments in Istanbul is the most important information that who want to buy an apartment in Istanbul are looking for, in addition to the average real estate prices in the most important neighborhoods of Istanbul, and criteria for the rise and fall in real estate prices in Istanbul, the most famous neighborhoods in which real estate prices have increased in Istanbul. According to the latest statistics released at the end of 2018, the prices of apartments in Istanbul range in the value of one thousand TL and ten times that figure, depending on the neighborhood, its value and features. In total, the average price per square meter in Istanbul is about 3000 to 4000 TL.
Some of the areas that are likely to increase real estate prices are: new Esenyurt area and Beylikduzu district on the European side of Istanbul.
Reasons why the price of the apartment in Istanbul exceeds the market price
- The property should be within a modern residential complex because of the services associated with protection, security and entertainment within these complexes.
- The view plays the most important role in increasing the price of the property compared to other real estate itself, even on the same floor even.
- The presence of furniture with the house gives it an extra value, which means that the prices will be more valuable, and the more the furniture is good and usable the more the value of the property.
- Successful commercial properties may be more expensive than empty or new commercial properties, because the location of a commercial property gives it a good reputation passed from seller to buyer.
The reasons for the low price of the apartment below the market price
- Home need for repairs and restoration.
- The urgency of the seller and the need to sell the property urgently.
- Buying properties under construction gives an opportunity to get a competitive price for ready-made properties.
Factors affecting the value of real estate in Turkey are the balance of supply and demand, where the supply is the size and number of properties and real estate projects for sale, whether these properties are ready to live directly or under construction, as well as whether they are old or modern, while the demand is expressed by the size of the demand for the purchase of real estate in a neighborhood, and the desire of buyers of real estate in an area. Demand Usually the importance of the region and its vitality and opportunities for real estate investment, and real estate prices in Turkey directly depend on the balance of supply and demand.
It is noteworthy that the prices of rent and real estate in Turkey is rising at a remarkably accelerated pace, due to the high inflation rates and increasing internal demand, and the rent of the apartment, which was rented ten years ago about 500 TL, it is renting now by nearly 1.100 TL Monthly (equivalent to $400.)
It is important to determine the budget allocated when searching for apartments for sale in Istanbul for housing or investment purpose.
Real estate experts recommend looking for apartments in Istanbul Turkey for sale on the European side, because of its vitality and wide opportunities in case you want to re-offer the apartment for sale. The apartments are located in the European Istanbul near the city center, and next to historical areas such as the wall of Constantinople, where the best apartments for sale in Istanbul Turkey with amazing sea views of the Bosphorus.
In addition, the choice of the location of Istanbul apartments for sale within municipalities near major mega projects, such as New Istanbul Airport, Eurasia tunnel and Istanbul Canal project, is expected to give the experience of buying an apartment in Istanbul ample profitable dimensions in the near future. The spread of service facilities such as hospitals, schools, social and commercial activities, malls and markets, and their focus on residential projects in Istanbul, will undoubtedly add value to the real estate.
Tips for those interested in real estate investment in Turkey:
- Check the eligibility of the seller or the person responsible for selling the property; in terms of having the right to carry out the sale.
- Ensure that there is no other owner or buyer of the property.
- Verify that the property is free of mortgage, lease or other rights.
- Visit the property's site and make sure it is fit for use in your housing, work or private purpose.
- Get a copy of the property contract to ensure that the previous owner has not made any form of transfer of ownership, and to ensure that there are no rights arising from it.
- Ensure that the areas, specifications, and information contained in the title deed match the real estate form.
We at Right Home Real Estate Consultancy in Istanbul, offer you the opportunity to purchase a property in Turkey in an easy and secure manner with the supervision of our legal team on all procedures.
