Every year more and more people are showing interest in buying real estate Istanbul. And there is a huge reason behind it and it’s the Turkish government. Due to the simplification of Turkish real estate law, non Turkish people can now easily invest in real estate here. And Istanbul is one of the most famous spot that investors chooses.
Due to the increasing fortune of the city people are investing here more and more to capitalise their business. Apart from that, Istanbul also have very good residential place for sale. So no matter what you seek, Istanbul has it all.
Which places are the best to invest in real estate Istanbul?
- Taksim- This place is basically the historical centre of Turkey. You can find best real estate market Istanbul under $1,000 approximately. But the quality of each building may differ from street to street, so use your better judgement.
- Nisantasi- This is one of the most expensive place to live in with fancy restaurants, branded shops and more. You will not get a cheap deal here but if you invest in here the chances of increased value per year is very likely.
The title deed of real estate Istanbul
After you have selected the real estate in Istanbul for sale, it’s time to sign the deed. The current fee of the deed is 4% now (2020). And the rate should be divided between the buyer and the owner, so don’t let your seller put the whole rate upon you. Just make sure that this task is done under legal supervision.
The challenges to buy real estate in Istanbul for sale
Every great deal comes with a consequence. And when you are buying a foreign real estate, it’s not going to be a total smooth operation. Make sure when you are getting real estate Istanbul from an website, you inspect the land personally. Because most of the time when you think you are getting a good offer, it could be a scam. Plus, don’t buy a property upon phone conversation, also inspect the land personally.
How long the process takes to buy real estate in Istanbul for sale
The whole process of buying real estate Istanbul and signing can take from weeks to months, it’s dependent on you. But one thing is for sure, it’s fairly hassle free. Even though, it is not mandatory to involve a lawyer but it’s better to get one anyway, to be on the safer side. It will be better to contact a real estate agency which works with solicitors, that will help with the paperwork.
Vital tips to buy real estate in Istanbul for sale
- If it is your first time in real estate investment, then you should do more research. Or the best option would be to get a realtor. A good real estate agent will help with all the process.
- If you are not totally sure about the real estate Istanbul then don’t reserve the property. You will have to pay an amount upon reservation. And if you change your mind about buying the property, you won’t get the money back.
- Make sure to ask for all the essential documents from the owner. And check if the house in on mortgage or not.
Don’t worry so much as buying property in Turkey is fairly easy. This is all you need to know about real estate in Istanbul. Use these tips to get the best property in Istanbul is a cheap rate. As long as everything done is legal, you won’t have to worry about anything.
