When you buy real estate in another country, you make a profitable investment, plus you get privileges like second citizenship. Istanbul is the greatest place to start your property search among numerous foreign locations.
There are many reasons for this, which we will discuss in greater detail later in the article. For now, note that it’s a city with a great mix of cultural influences and a long history. Furthermore, real estate in Istanbul is less expensive than in many other large cities in the region.
Purchasing Property in Istanbul
For foreigners seeking real estate in Istanbul, there are numerous attractions. It’s a metropolis where everything is readily available: educational opportunities, retail malls, fresh cuisine, and so on. It also has a large expat population, making it simpler to socialize and make new acquaintances. It has large airports that connect it to the rest of the world, allowing you to quickly fly to Europe, even for weekend excursions.
Why Buy a House in Istanbul
Istanbul, Turkey’s largest city, is currently experiencing fast growth in its real estate sector. Istanbul is luring overseas expats to make real estate investments with new land projects in the most desirable locations.
Aside from that, Istanbul’s location is ideal for expats because it offers a higher quality of life with lower costs. There are numerous other compelling reasons to purchase a home in Istanbul.
A Profitable Investment
If you have a long-term investment strategy, investing in Istanbul real estate could yield a good return. The demand for real estate in Istanbul is always increasing as a result of the tourism and economic revolution.
Many Housing Options
Istanbul is one of the cities in Turkey where you may find a wide range of property options. There are built residences, apartments, houses, vacation homes, luxury villas, and more to pick from. All of these properties are reasonably priced when compared to major cities in Europe, and you may enjoy breathtaking views and picturesque scenery all around you.
What To Look For When Buying a House in Istanbul
Istanbul real estate is now attracting a large number of international investors. The flexibility to choose from a variety of property kinds and inexpensive costs are two of the most important factors. If you’ve never been to Istanbul and don’t know anything about the market, here are a few things to keep in mind.
Feel Free To Negotiate
In Turkey, negotiation is a part of the shopping experience. This is also valid when you’re buying a house in the country. Make sure you have a basic understanding of the rates before you begin house viewings so you can bargain. It’s also beneficial to be familiar with districts so as you can compare and make a reasonable offer.
Spend Some Time in the Surrounding Area
While you’re searching, take some time to go about the neighborhood: Is there a park close by? What is the location of the nearest school? Is there public transportation? Are there any restaurants nearby? This is a crucial part of house hunting that is sometimes overlooked.
Review the Paperwork
During house viewings, you may come across some properties that are less expensive than the rest of the area. It’s possible that the low cost is due to a lack of paperwork, such as planning authorization. This is why it’s critical to conduct thorough research and consult with experts before investing your money.
Speak With a Real Estate Agent
As we’ve already mentioned, speaking with a professional is crucial when purchasing a home. They will lead you through the process and assist you in completing the necessary steps.
Istanbul’s Most Popular Neighborhoods
Etiler is an excellent place to invest if you enjoy nightlife and shopping. It has a number of high-end homes and flats, as well as gyms and restaurants. Nice houses with views of the Bosphorus may be found in Etiler. Note that it’s a posh part of Istanbul.
Bebek, like Etiler, is an affluent district in Istanbul’s European side. Its location has made it a popular destination for tourists and locals alike who want to enjoy the views of Bosphorus while dining in nice restaurants.
This is a neighborhood in Istanbul’s Beyolu district known for its tiny alleyways, cafes, beautiful architecture, and bohemian atmosphere. So, if you enjoy art, check out the properties in this area.
Sariyer is another lively neighborhood, located in the north of the city, close to the Black Sea border. The district is home to many fish restaurants and green areas. It’s a popular area among expat families with children, who want to enjoy the urban life while being close to nature.
How long does it take to buy a home in Istanbul
The property purchase process in Istanbul entails a number of processes, including finding a house, finding an agent, negotiating the price, and so on. These processes necessitate a significant amount of study and, as a result, more time.
The entire procedure takes about two months, including the time you spend on research.
Rental Return on Investment in Istanbul Real Estate
If you buy a house in Istanbul, you may expect around two or three percent yearly rental income. If the property is in a high-end neighborhood, the income will be higher.
Istanbul Notary Services
In Istanbul, there are several notary offices, even in small districts. You can simply find one on your own or through your agent’s introduction. You won’t have to wait in long queues or make appointments because Istanbul has so many notary offices. There are numerous notary offices across the city, particularly in the Beyoglu district.
This is a quick introduction to purchasing property in Istanbul. You can also read our article on Buying Property in Turkey for more information. Best of luck with your search!