The process of buying an apartment in Istanbul

How to buy an apartment in Istanbul is your comprehensive guide

Buying an apartment in Istanbul means your enjoyment of enchanting beauty in one of the best cities around the world and your stability in the most places that tell ancient historical and civilizational stories. There is no doubt that you are looking to buy an apartment in Istanbul, in this article you will find all the information about real estates in Istanbul and the most important conditions for buying an apartment in Turkey.

Real estate in Istanbul

The charm of Istanbul, its beauty, the diversity of its properties and its strategic location on the map, which is located between the continents of Asia and Europe, made Istanbul's real estate one of the stops for Arab and foreign investors, as real estate investments in Istanbul in recent years has increased significantly and topped the list of Turkish cities that sell real estate to foreigners and Arabs and city Istanbul was in the last 10 years the first city among the cities of Turkey to achieve sales in the real estate sector.

The city of Istanbul is located in the northwest of the Marmara region in Turkey, and it is divided into two parts separated by the Bosphorus Strait, which makes the beautiful and charming city of Istanbul. It is located on two continents at the same time, the western part of the city is located on the continent of Europe, and the eastern part is located in the continent of Asia. The area of ​​Istanbul is 6,220 square kilometers, and Istanbul is the beating heart of the Turkish economy, and the historical and archaeological city has 39 districts distributed, and Istanbul is the largest city in Turkey and the seventh largest city in the world in terms of population, and it has 15 million and 29 thousand people.

Istanbul is a cultural, historical, archaeological, economic, tourist and financial center, as it has become one of the most strategic cities around the world. Which makes it among a group of cities located on two continents.

The large number of tourist and historical places in Istanbul have made the city of great importance and a tourist attraction throughout the year, as many tourists prefer Istanbul to the rest of Turkey, as it receives annually thousands of tourists from all cities of the world and this factor has made the real estate and investment sector increase day by day. 

How to buy an apartment in Istanbul

For those who want to buy an apartment in Istanbul, you must know the best distinctive neighborhoods in Istanbul and determine your place to settle in The city of Istanbul.

After that, you must contact one of the real estate companies in Istanbul and you must determine the property and what is available with you, so you must deal with a real estate company in Istanbul after determining the apartment that you and your family have chosen to settle in.

But there are some steps and conditions that you have to know before buying an apartment in Istanbul, and the most important of them you should know that apartments in Turkey are of several types, including apartments inside the complexes and also apartments outside the complexes, i.e. in the regular buildings. There are also smart and advanced residential apartments that work across Online mobile application.

Types of real estate apartments in Istanbul

There are many types of real estates in Istanbul, the most prominent of which are:

Apartments in Istanbul: There are many types of apartments, there are apartments inside the residential complexes, there are apartments in the regular buildings outside the complexes, and there are smart apartments, where the apartments in Istanbul were distinguished by their luxury and their engineering and architectural designs, which were built and constructed according to a modern, distinct and international style.
Luxurious and distinctive villas: The luxurious villas in Istanbul are characterized by the great amount of services, capacity, size, charming views, proximity to transportation, strategic, tourist and historical areas, seashore and lakes.
Shops
Cafes and restaurants
Offices

Conditions for buying an apartment in Istanbul

The real estate sector in Istanbul in particular and Turkey in general has witnessed a significant and noticeable growth during the past 6 years, as the attention of foreign and Arab investors has shifted to Istanbul with the aim of buying real estates and invest in the city, as Istanbul was on the list of the most prominent destinaton for investors in the real estate sector in Turkey, but there are conditions for buying an apartment in Istanbul And we will talk about in the article.

The Turkish law on ownership issued in 2012 stipulated in Article 35 of the law that a foreigner has the right to own a property in Turkey on condition that what he buys is not movable and does not belong ti a military zone, or any land belonging to the state in general.

It is worth noting that, through this decision, it became possible for a foreigner in Turkey to buy a house and complete the procedures for transferring ownership within one day only.

The presence of the buyer in Turkey to sign the contract of purchasing the property, and he can send his representative through an official agency.
Extracting the tax number from the tax department in Istanbul, which is a number that is given to every foreigner in Turkey, to facilitate his official transactions.

Opening a bank account in a Turkish bank, to transfer the money from the resident's country to the Turkish bank.
Providing a translated copy into Turkish from the buyer's passport, certified by a notary, and the cost is about 100 Turkish liras (approximately 27 US dollars).
For the seller and the buyer to go to the real estate office “Tabu”, so that the seller gives the property to the buyer, and the latter receives the title deed and the key to the property, a process that costs 200 Turkish liras (about 50 dollars).
One of the conditions is real estate appraisal, which is an appraisal that correctly determines the price of the property, and the evaluation is done according to one of the specialized and licensed companies that provide real estate appraisal service.

In case that the property is not ready for delivery, such as buying a house under construction from a real estate company, the title deed is not delivered to the buyer until after the house is handed over to him.

It is indicated that the property tax in Turkey is about 4 percent of its price, and it is paid at 2 percent by the seller, and the same by the buyer.

It is worth noting that the buyer who owns the title deed has the right to obtain a "real estate residence" from the Turkish Ministry of the Interior for a period of one to three years, and real estate residency is granted to those who own an apartment inside Turkey. Turkish citizenship is also granted to anyone who buys a property or more than one of the types of real estates in an amount of $ 250,000 or more.

What are the real estate prices in Istanbul?

Real estate prices in Istanbul at the beginning of 2021, and they are according to the following table:

Advantages of buying a property in Istanbul

Some real estate gives Turkish citizenship to property buyers when they buy a property of $ 250,000 or more.
Turkey, Istanbul and settling in it is a cheap life.
Istanbul is characterized by a large number of tourist and historical places with charming, wonderful and luxurious views.
Turkey's real estate in general and Istanbul's real estate in particular are characterized by being cheap compared to European countries.
Istanbul is distinguished by its historical, cultural and social location, and its sensitive location on the map.
Istanbul is characterized by its presence within a large number of seas, lakes, nature reserves, forests, rivers and parks.

Istanbul is characterized by the presence of the best hospitals, beauty clinics, hair transplant clinics, and many advanced health centers.
Istanbul is characterized by the diversity of its real estates, as many real estate projects have been built within the latest earthquake-proof models and many architectural and construction elements.
Istanbul's real estates are distinguished by its location within the most beautiful, charming, luxurious and distinguished natural areas.
Istanbul is distinguished by its charming location and its presence in the heart of Asia and Europe.