How to Buy an Apartment in Istanbul 2022
The real estate market in Istanbul today has become one of the most important real estate markets in the world due to the state of political and economic stability witnessed by the state of Turkey and the urban renaissance that affected various Istanbul properties, where the movement of buying and selling apartments of all kinds flourished and Istanbul areas became a major investment center for many local or real estate foreigner investors, especially those who want to buy apartments and houses.
In our article today, we will learn how to buy an apartment in Istanbul and the most important steps necessary to complete the purchase process correctly.
Ways to buy an apartment in Istanbul
What distinguishes the real estate market in Istanbul is that it is one of the most real estate markets in Turkey in terms of diversity of options and its ability to meet all desires. The investor can find what he wants to buy of apartments of various types, including: luxury - ordinary residential - studio apartments - apartments within residential complexes - penthouses.
How can these apartments be purchased?
There are several ways to buy apartments in Istanbul, including:
*Buying ready-made apartments through a real estate company or directly from the owner
Here the buyer can communicate with real estate companies, see their most important offers, choose the apartment that meets all desires, and then inquire about the price.
*Buying apartments under construction
Here the buyer can search for apartment projects that are under construction in order to reserve one of the apartments to pay for it and receive it upon completion of the processing operations.
*Buying apartments in installments
This method enables the buyer to buy the apartment in installments, as the price of the apartment is agreed upon, then an agreement is made on the number of payments and the necessary duration to complete the price of the apartment, where the buyer can buy an apartment in installments through a bank or search for a real estate company in Istanbul that has offers of selling in installments.
How to buy an apartment in Istanbul:
A huge purchase such as buying an apartment in Istanbul must go through a series of stages that will ensure success in this process and that the buyer will not encounter problems , even if this process is in accordance with the foundations and rules of Turkish law for the rules of ownership.
Advance planning and desires:
Here the buyer must determine a set of important things for his purchase process to choose what he looks forward to and desires and determines the features he wants in the apartment, as he must:
-set the primary goal of his purchase of the apartment he wants
- conduct a prior study of the reality of prices in the Istanbul real estate market
-Determine the budget allocated for the purchase process
-communicate with those with previous experience
-See the instructions for the processes related to the sale and purchase of real estate in Turkey.
Choose and specify the specifications of his apartment
The buyer must identify a set of specifications related to the apartment he wants to buy, so he must specify
-Its location:
The first thing that the buyer chooses is the location of the apartment, where the choice varies according to desire. If the investor intends to live in the apartment here, he must choose an area close to the center of Istanbul, but if he wants to live in a rural area away from the noise of the city, he must choose one of the nearby countryside of Istanbul .
Buying the apartment can be for commercial investment here the buyer should choose the location more carefully and at a cheap price that suits his intentions of profit by selling or renting it.
-Its area:
The choice of apartment space also depends on the investor and his desire, and also depends on the number of family members of the buyer in the event that he intends to live in the apartment, so the investor chooses an apartment with sufficient space for his family and a regular distribution of rooms and the number of rooms is sufficient for his family, but if he wants the apartment for investment, he must choose an apartment with a suitable area in general in order to meet the different demands in the future, but provided that its price is commensurate with its area.
-Urban design:
The buyer must choose the urban design that meets his aspirations in terms of modernity and advanced urban design from high-quality building materials and its ability to resist earthquakes and other features that it enjoys.
-Its view:
Choosing the view of the apartment is related to choosing its location and the area in which it is located. Choosing the view of the apartment is very important, as the buyer always wants to live in an apartment with a beautiful and picturesque view, and tends to the apartment overlooking a water oasis or a green yard, which is characterized by its average prices.
Here, apartments in the Asian section can achieve these looks but if the buyer wants the apartment for investment, the investor does not care about the apartment’s view, but rather his constant question is about its price and that if the view is somewhat good in order to attract customers to it and invest it in the required manner.
-Its furniture:
The buyer should always pay attention to the apartment’s furniture, and the completeness of the electrical equipment in it. The apartment’s furniture plays a major role in determining the price of the apartment, and it also plays a role in attracting investors to it and making the benefit of real estate investment great, and it returns to the investor with great profits.
Choosing a real estate company in Istanbul
After choosing the specifications of the apartment that the buyer wants to buy, then the process of searching for an apartment with the required specifications must begin, and the search process is done through real estate offices or real estate companies that help you in the search process until you get an apartment with more beautiful specifications, cheaper and more suitable prices, but before you choose a real estate office or a specific real estate company, you must ask about the best real estate companies in the region and go to them to deal with them.
This stage is considered the most important step in buying an apartment in Turkey. The applicant must choose a real estate agent carefully, as the reputation of the real estate agent in the market is considered, the quality of services and offers provided, in order to communicate with him and present the required desires and the initial agreement to see all offers that meet the wishes of the buyer.
The vision in reality
The buyer must go himself to inspect the apartment and see the offers he received on the ground in order to see the infrastructure of the property so as not to be deceived.
Agree on the price
After the real estate investor chooses the apartment and confirms it on the land of the sites, he must start negotiating the price with the property owner and then agree with the property owner on the terms of sale and the final value of the property.
Signing the purchase contract
The process of signing the contract between the seller and the buyer, after agreeing on the price of the apartment and all the terms of the sale, the sales contract is signed at a notary and in the presence of the two parties, and all the agreed terms between the two parties are detailed on the contract and in front of the notary, to ensure that the terms of the contract are not tampered with and not exposing you to problems after the purchase process, which is a very important step, and upon concluding the contract, you must pay an amount of the price of the apartment (Raboo down payment) to be seized.
Finding the apartment tax number:
The buyer cannot buy the apartment without obtaining the apartment’s tax number, so he must go to the real estate department to get the tax number to take advantage of it in extracting the entire papers of the apartment, as well as helping the investor to speed up the contract matters between the seller and the buyer.
Obtaining the title deed of the apartment
This is the last step to complete the process of buying an apartment in Istanbul, where the buyer's title deed is obtained after submitting the following papers
1. A copy of the investor's passport certified by a notary public
2. Two recent photos showing the features.
3. A copy of the apartment building permit.
4. A copy of the original title deed of the apartment before the property is transferred in the name of the investor.
5. A copy of the completed sale contract
6. Apartment tax number
And then apply all required government procedures and complete the agreed payment process in order to obtain the title document (Tabu) and the buyer becomes the owner of the apartment by law.
Reasons to buy apartments in Istanbul
There are several motives and reasons for investors to go to the real estate market in Istanbul to buy apartments and from them
-Motives resulting from the desire to live in Istanbul
What the city of Istanbul is witnessing today in terms of governmental concerns that have affected various sectors and levels are the most important motives that have increased the desire of buyers to buy apartments in it. We mention them:
*Living standard
It is characterized by the ease of life and living, as the prices are cheap and appropriate compared to other nearby European countries.
The Turkish government also provides many free services that contribute to improving the standard of living of citizens or those in Istanbul for tourism or those wishing to invest.
*Security level
Istanbul enjoys a good state of security stability, as it is today considered a refuge for businessmen who suffer from turmoil in the security situation in their country, as they head to Turkey to buy residential real estate in order to have a quiet and secure life.
*Tourist level
Istanbul enjoys the beauty of its scenery of forests, green spaces, water oases, sea views and many other elements of nature, in addition to many historical landmarks such as the Hagia Sophia Mosque and many palaces, museums, other mosques, bridges and other archaeological and historical monuments that attract tourists from all sides.
*Service level
Istanbul today has the latest service technologies that will positively affect the lives of citizens. Today, it has a network of roads and bridges that connect all areas of the city together and is equipped with the latest and fastest means of transportation.
It also owns many schools, universities, health centers, and public and private hospitals.
*Friendly people in Istanbul
The people in the city of Istanbul are considered one of the kindest and simplest peoples in Turkey.
They are distinguished by being a conservative people who do not accept defects in morals or principles.
They are a people who are friendly and accept coexistence with others.
They respect the customs and traditions of other peoples.
Motives resulting from the desire to invest in real estate in Istanbul
The recent increase in the number of investors, especially foreigners, in the real estate market in Istanbul, was due to several reasons, perhaps the most important of which are:
-Buying apartments is a great opportunity for success:
Buying an apartment in Istanbul is one of the biggest opportunities for profit and benefit from the financial returns, especially after the boom in the real estate market in the last period and the relative rise in real estate prices.
-Apartment prices in Istanbul
The most important characteristic of apartments in Istanbul is their acceptable and average prices for the great features and luxury that real estate enjoys, compared to real estate in neighboring countries, the prices of apartments are medium and very acceptable for real estate investors.
-Obtaining Turkish citizenship:
The Turkish government allowed the investor who buys an apartment whose price is not less than 400 thousand US dollars to obtain Turkish citizenship, but on condition that it is within the areas where it is allowed to buy apartments and obtain citizenship by purchasing it.
-Obtaining real estate residency:
The Turkish government made it possible to obtain real estate residency by buying a property, where real estate residency is granted by buying an apartment in Istanbul if it was purchased at a price of at least 75 thousand US dollars.
-Government facilities for buying apartments in Istanbul:
The Turkish government provided a large number of facilities and conditions related to the sale of real estate to foreigners, as it sought to work on completing the property purchase process as soon as possible, and also worked to exempt investors from the added tax, which provided the investor with an amount of money, which attracted foreign investors and urged them to buy apartments and real estate in Istanbul.
-Diversity of apartments and offers in Istanbul:
There are several types of apartments that meet the different desires of investors in Istanbul, including:
*Residential apartments
They are apartments for housing and a place to live in Istanbul, intended for those wishing to live, and here it should be noted that the buyer must choose the location, view, and service structure of his residential apartment very carefully.
*office apartments
The aim of it is commercial, as the investor wants to buy this type and rent it and thus obtain a financial profit that is considered a fixed income, and what distinguishes this type is the long-term leasing and the reason is that the tenant takes from the apartment as a place of work, as he is interested in that the rental period be long because his clients are accustomed to it in this the place.
*Studio apartments
They are apartments in small areas, located close to government centers and universities. They are suitable for students or workers who go to city centers, and this type is widespread in Turkey, especially Istanbul.
*Residential complex apartments:
It is an apartment located within residential complexes, as it meets what the buyer aspires to, and this is widespread in the real estate market in Turkey as a result of the spread of many residential complexes in the suburbs of Turkish cities, especially residential complexes in Istanbul.
*Smart apartments
They are apartments equipped with the latest international technologies and designed with urban designs that reflect the tremendous development that the world is witnessing today, as they were recently published in the real estate market in Turkey, especially the real estate market in Istanbul.
Tips for buying an apartment in Istanbul:
Many real estate experts and owners of previous experience of buying apartments offer a set of tips, including:
-The buyer should look for ready-made apartments within Istanbul and not rely on buying apartments under construction or apartments that are still on the design plans
-He must ensure that the apartment is free of legal problems and that a real estate license for the apartment is registered within the Istanbul Public Real Estate Department
-Ensuring the service facilities and the service structure of the apartment, as it is ensured that there are no problems entering electricity, water or sewage into the apartment
-The buyer must inquire about the utility bills for the apartment, including water, natural gas, and a landline phone, and make sure that they have been paid in full until the date and time of purchase.
Here, we have indicated the most important and necessary steps that must be followed when buying apartments in Istanbul to be able to complete the purchase process successfully, and we have indicated the most important reasons and motives that prompted investors to buy apartments in Istanbul.
Related articles:
Cheap apartments for sale in Turkey
Real estate investment guide in Istanbul
Conditions for obtaining Turkish citizenship
Types of Turkish passport and its features
Benefits of buying a property in Turkey
How to obtain real estate residence in Turkey?
