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Feb 5, 2023

Problems you may encounter when buying an apartment in Istanbul

Istanbul is the nucleus of real estate investments and various economic activities in Turkey. It is the economic capital of Turkey, despite the fact that Ankara is officially the administrative capital. Investors flock to Istanbul and rush to buy Istanbul real estate and apartments constantly and in different seasons. Istanbul provides investors with a rich real estate diversity as it is distinguished by being located on the continents of Asia and Europe, which is separated by the great  Bosphorus Strait.

As for the offers of Istanbul real estate, they are varied and many, and they are witnessing a great demand due to their role in terms of tourism, residential and real estate investment. The ways of real estate investments in Istanbul, that start by buying an apartment in Istanbul, are smooth and dynamic, especially with the presence of offices and real estate companies in Turkey that facilitate obtaining distinctive real estate offers in the appropriate region and price offers.

However, the issue may not be without some troubles and obstacles that you may face when buying Istanbul real estate, even if these problems are rather few. Therefore, we will address the most important issues in this matter where you may be exposed to some fraud and deception attempts that cost you a lot, so it is recommended to resort to real estate companies to protect you legally.

Sometimes the price of the apartment is relatively high compared to the components of the real estate offer. However, the solution may simply be by paying in installments. You may face some difficulties in transferring ownership or any of the official papers transactions, in this aces real estate companies in Turkey also help you to complete the official papers quickly and professionally.

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Troubles you may face when buying Istanbul real estate

There are several troubles that you may face when buying Istanbul real estate. These troubles may relate to the investor, the most prominent of which are:

  • Lack of sufficient knowledge of the Istanbul real estate sector, and the stages and steps of purchasing and investing real estate, which makes the issue of buying Istanbul real estate difficult for investors and makes them fall into a spiral that seems complicated to them, but in reality it is very simple. In this case, it becomes easy for the investor to fall into fraudulent attempts in Istanbul. Therefore, we always recommend resorting to entities with long experience in the field to give you a correct overview of the world of investment in Istanbul real estate including offers for apartments for sale in Istanbul, Turkey.
  • Price volatility of Istanbul real estate offers. Price volatility is one of the most important concerns and obstacles that foreign investors may face when investing in Istanbul real estate and buying apartments in Istanbul. The prices of all types of Istanbul real estate vary depending on many factors and advantages and depending on the timing in which the property is purchased. In general, Istanbul real estate offers are characterized by a steady increase in price values, over time, depending on local and international economic inflation and many other factors and components.
  • Buying an apartment in Istanbul is a proactive and important investment step. Various investors in Turkey and foreign countries aspire to buy Istanbul real estate for various purposes, whether residential, touristic, or other. In any case, buying an apartment in Istanbul is considered the nucleus of investment projects with increasing profits, regardless of the circumstances.

We must not forget that Istanbul real estate offers are characterized by many advantages and components and witness a very rich diversity that meets the demands and desires of various investors coming to Turkey or Istanbul in particular. We mean by Istanbul real estate diversity here what concerns apartments in terms of locations, views, spaces, decor, designs, colors, etc.

Investing in Istanbul real estate

Real estate offices and companies in Istanbul provide you with many real estate offers that include Istanbul real estate suitable for obtaining government privileges and facilities that foreign investors in Turkey desired. As we know, there are many and tempting incentives for investing in Istanbul real estate that cannot be avoided or rejected by any successful investors who want to increase their profits in the short term. We mention the following benefits of investing in Istanbul real estate:

  • An investment in Istanbul real estate worth $400,000 qualifies for obtaining Turkish citizenship and a Turkish passport. Provided that the property is purchased from a Turkish citizen and that the buyer does not sell the property for a period of 3 years from the date of purchase. The investor's spouse and children under the age of eighteen also obtain Turkish citizenship and obtain all the rights enjoyed by a Turkish citizen. 
  • Istanbul is called the city of two continents because of its location in the middle of the continents of Asia and Europe, which attracts international companies and international investments to it. Therefore, real estate investment is considered one of the most successful and profitable types of investment.
  • The high demand for Istanbul real estate, whether for purchase or rent, due to the increase in arrivals to it, whether from Arabs or Europeans, which makes real estate investment in it very profitable and the best way to obtain a continuous and increasing return on investment, whether on a monthly or annual basis, and this is what everyone who bought a property two years ago witnesses. He is renting it at the moment.
  • Istanbul is not only a destination for foreigners. Even Turks themselves migrate from their cities and villages to work and study in Istanbul, so the Istanbul real estate market never slows down and is in constant demand.
  • Real estate investment in Turkey is considered among the best in the world because the financial returns are large and short-term. It is safe and can never lose. The main reason for this is because it depends on internal demand from the Turks themselves more than external demand, and this is what distinguishes Istanbul and Turkey in general from other real estate markets.
  • In addition to obtaining Turkish citizenship, there is another option, which is to invest in Istanbul real estate with a value of no less than 200 thousand US dollars to obtain real estate residency and enjoy its many advantages.
  • Among the government facilities that are unique to Turkey is the reduction or exemption of investors in Istanbul real estate or Turkish real estate in general from the taxes associated with real estate ownership. This is also another advantage that distinguishes Turkey from other European countries and their large taxes. 
  • The New Istanbul Canal is a strategic project that the Turkish government began construction several years ago, aiming to create a new Bosphorus in the city of Istanbul, which will make Istanbul the first center for international trade, which will lead to a major real estate jump in the world of Istanbul real estate. We have recently begun to notice an increase in real estate prices in the areas surrounding the canal.

At the end of the article, we can only advise you with this valuable advice before taking the step of purchasing Istanbul real estate, which is that real estate agencies are the ideal solution to avoid all the problems and risks that you may face when purchasing Istanbul real estate by protecting you from exposure to fraud and from what you do not know about the internal affairs of Turkey and the legal procedures and in obtaining Turkish citizenship by owning Istanbul real estate within a standard and short period of time that may not exceed three months.

Do not hesitate to buy Istanbul real estate as they are real estate that will open for you ways and means of advanced investments that are never subject to loss. Although there are problems that you may encounter with Istanbul real estate, the issue can be addressed and resolved by following the advice and legal legislation that were developed to protect you and facilitate your investments in Turkey.

If you would like to know more about investing in Istanbul real estate, do not hesitate to contact us via WhatsApp, here. We will respond to your inquiries as soon as possible.





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