Tips for investors in Istanbul real estate 2021-2022
Turkey is in the 14th rank among the countries with the highest real estate investment in the world. Turkey, ahead of countries such as Portugal, Greece, and Spain, is also at the top of the "best real estate market" for foreigners worldwide. Turkey has taken its place at the forefront of the global market with its affordable cost of living, stable economy, tourist attraction, and transportation facilities. Factors such as high rental income, affordable real estate, favorable living conditions, and 250.000 USD citizenship incentives have brought Turkey to the fore in the global market.
In addition to all these attractive factors, the rapid appreciation of the real estate sector in Turkey is one of the most important factors affecting investors. The increase in housing value in Turkey ranks first in the world. In other words, a house purchased in Turkey never loses value and provides high profits to its buyer. Even during the coronavirus epidemic, which negatively affected the whole world, the real estate sector in Turkey did not lose value and continued to bring profits to its investors.
Real Estate Investment in Istanbul
Real estate investment is seen as the investment tool with the highest return and the least risk in the long run among all investment instruments (shares, futures accounts, crypto money, etc.). With its strong economy and stable growth rate, Turkey is one of the leading countries in the world in terms of trade and economy and is one of the most preferred countries for real estate investment by foreigners. When we look at the regions preferred by foreigners for investment in Turkey, it is seen that Istanbul is the most preferred city. Istanbul, which has a very large real estate market, is a metropolis that offers high-profit investment opportunities to its investors in a shorter time than average. Being the biggest city in both Turkey and Europe and one of the biggest metropolises in the world, Istanbul adds value to its value with the huge projects (such as Istanbul Canal, Eurasia Tunnel, Marmaray, Istanbul Airport). In Istanbul, real estate investments can be made in three ways by purchasing residential, land, and commercial real estate. There are many ways to invest in real estate in Istanbul, but there are also important points to consider when investing in real estate. Here are the important tips for those wishing to invest in Istanbul real estate 2021–2022:
- Question the reliability of the seller of the real estate you are interested in and the suitability of the real estate for sale.
- Check whether the owner of the real estate for sale is the same person as the person in the title deed.
- Check whether there are problems on the property that prevent the sale process, such as foreclosures, annotations, or mortgages.
- Examine the real estate to be purchased on-site by working with a reliable real estate agency.
- Check whether the declared properties of the real estate and the properties registered in the deed are compatible.
- Get information about the environment you want to invest in and the potential of the environment from an expert real estate agent. Or if you don't know where to invest, ask them to guide you according to your investment type (rental flat, office, store, hotel, etc.)
- Work with a professional and reliable real estate agent. Working with a reliable real estate agent protects you from many negative situations that may arise.
The Secret Behind the Attraction of Real Estate Investors to Istanbul
Foreigners prefer to invest in real estate in Istanbul for reasons such as affordable real estate prices, advanced transportation options, incentives provided by the Turkish Government to foreigners, strong economy, affordable living costs, welfare and secular living climate, and Turkish lira devaluation.
The Turkish Government has made many arrangements to attract foreign investors. Unique incentives are offered to foreigners who want to make commercial or real estate investments in Istanbul. With these incentives, it allows investors to feel more secure and to operate more efficiently and profitably for commercial investors.
Investing in real estate in Istanbul does not require a very complex or difficult process. Things to do are very simple. It is sufficient for a foreigner who wants to buy real estate in Istanbul to come to the country with a passport and visa. However, professional support must be sought to avoid negative situations that may be encountered in a foreign country and to minimize the risks. Because in a country where you do not speak the language and do not know the legal procedures, it can be difficult to buy real estate without professional help. A foreigner who decides to invest in real estate in Istanbul should follow the following process:
- You should clearly define your wishes and budget and convey them to the real estate agent completely. It means that the real estate agent fully understands your wishes and knows your budget and will offer you the best options that fit your budget.
- Make sure to visit the properties you like among the properties offered by the real estate agent, accompanied by your consultant, and see them on the spot.
- Be sure to ask for information about the sales conditions and payment plans of the offered real estate.
- Pay a deposit for real estate that you like and are considering buying. Thus, you will prevent negative possibilities such as selling that real estate to someone else and increasing its price.
- When you decide to buy the real estate, make sure to sign a sales contract and check whether the conditions you want are included in the contract.
- After the contract is signed and money transfer is made, apply to the Land Registry Office and be ready on the specified date with the documents requested from you.
After the title deed transfer, there are a few more simple steps to be done for your apartment. For the use of flats, transactions such as electricity, water, and natural gas subscriptions, earthquake insurance, and decoration are required. Diyar Turk Real Estate is always ready to help in all transactions that need to be done after the sale as well as before the sale. Considering all these processes, working with a reliable real estate agent will provide you with many benefits and facilitate your transactions in a foreign country.
Please do not hesitate to ask any questions you may have. You can contact us via our website or firstname.lastname@example.org e-mail address.