Planning to buy second-hand property in Istanbul? Great!
If you are a non-Turkish citizen and want to buy property in Turkey, this article is for you’ll.
We will help you know everything about Istanbul so you make a better decision with your investment in real estate in Turkey.
What should non-Turkish citizens to buy second hand property in Istanbul?
To buy second-hand property, Non-Turkish citizens must respect the regulations specified under the law:
- Any Non-Turkish can buy a maximum of 30 hectares of property in total.
- Non-Turkish citizens cannot buy property near the military and security zones.
- A Non-Turkish real person can buy property only up to 10% of the total area of the district where their private property is located.
Where to buy the best second-hand property in Istanbul?
- Sisli: Sisli is one of the oldest districts of Istanbul and is the perfect place to buy second-hand properties in Istanbul. Malls, restaurants, social areas, this area is bustling with life. The transport link is amazing and can take you to every corner of the city.
- Beyoglu: Here you will get luxurious second-hand property in Istanbul. It has the home of some of the most exclusive malls, eating, and entertainment scenes in Istanbul. Along with the happening lifestyle, this place also has a rich heritage to offer its investors.
- Taksim: This is the heart of Istanbul. Here you will get everything-stores, cafes, cultural events, festival saloons, art galleries, and so forth. Here you will get all the colors of the city of Istanbul. It is also an impressive place to buy second-hand property in Istanbul.
- Kadikoy: This one is on the Asian side of Istanbul. Investors can enjoy the modern and stylish second-hand property with excellent facilities and travel links to the city. Here you will enjoy high capital appreciation and a good lifestyle.
Other than these, there are other places like Fatih, Ortakoy, Kilyos, and many other places to buy second hand property in Istanbul.
Why should you buy best second hand property near Istanbul?
- Excellent return on Investment: The world knows that the real estate of Istanbul is growing by leaps and bounds. Therefore, capital appreciation is really high in Turkey. Whether you use you rent your property or just use it for your personal use, buying second hand property in Istanbul is an excellent decision.
- Low Taxes: In Turkey, foreigners are exempted from the Value Added Tax on the property. It means you a lot of money on property taxes compared to other countries.
- Cheapest real estate in Europe: As compared to European countries, real estate in Europe is cheap. Along with that, the wonderful weather, promising economy, rich cultural and historical heritage makes one of the best places to invest in second-hand property.
- Turkey Citizenship: According to the Turkish Citizenship Law, any foreigner who buys property worth $250000 in Turkey will be granted citizenship.
- If any foreigner owns a property less than $250000, they are granted a residence permit that needs to be renewed each year.
- Low-life cost: compared to other European countries, the cost of living in Istanbul, Turkey is relatively low. Though the Cost of living may be low, the lifestyle is sophisticated. It’s a win-win situation.
- Nature & Temperature: Istanbul has amazing scenic beauty and great climate all around the year.
You made the right decision
Buying second hand property in Istanbul is a smart move! Real estate industry in Istanbul is booming this is the ideal time to make to make the investment.
Remember it’s not only an investment, it’s a lifestyle change.