Five Basic Conditions to Ensure a Successful Real Estate Investment in Istanbul
Table of Contents
Istanbul has become the main destination for Turkish and foreign real estate investors, due to the high success rate that accompanies investment operations in the region, especially in the past few years, and this in turn affected the real estate market in it and made the investment attraction stronger, and from the successful real estate experiences in Istanbul, conditions were set in order to ensure the success of real estate investment in it, which is what large numbers of investors around the world are looking for, who dream of an opportunity to succeed in real estate in Turkey.
Conditions for ensuring the success of real estate investment in Istanbul :
There are several conditions that the investor must follow in order to ensure success in the real estate investment process in the city of Istanbul, which in turn provides many facilities in this area, including:
-Good choice of property before buying it :
This is what is considered essential in the process of buying real estate in Istanbul, which contains a large number and type of real estate and a great difference in it between the region and the other. There are several choices that emerge from the process of selecting the property and its specifications before it is purchased
-Choosing the type of the property :
It is the first step that the investor must take, and this is done through tips provided by other investors or friends of them, but in this article, we will provide you with the best types of real estate that guarantee you success in investing:
It is one of the largest and most successful types of real estate in the city of Istanbul, due to the high turnout of visitors to Istanbul, which means that hotels are required to receive these visitors and support the tourism movement in the region. Therefore, hotels are the most fortunate in terms of success and assured profit, and we distinguish in Istanbul two types:
Hotels that are located in the city centers for visitors who go to the government centers in the city of Istanbul and hotels that are located in remote areas from the city centers and which receive visitors who come to them with other intentions.
It comes in second place in terms of real estate that guarantees investment success, and villas are one of the most luxurious and most important types of real estate in Istanbul and have a great position in the real estate market. Therefore, villas in Istanbul are of great importance in the world of investments. We distinguish in Istanbul three types of villas:
-Tourist villas, those villas that receive tourists and provide them with great advantages in order to facilitate the process of tourism in the region.
– Historical villas, which are the villas that narrate the conversations about the history of the city of Istanbul and contain antiques that have long lived on the land of Turkey.
– Regular villas, which are villas located in the city center in a quiet atmosphere far away from the hype of tourists and visitors, it is meant by celebrities, artists and professional football players.
These properties come third in terms of success in real estate investment, but they are the most traded in the real estate market because of their cheap prices and the great demand from investors to buy them.
-Property location :
The location of the property has a major role in ensuring investment success in it, by choosing it well before the purchase is made, and it is the most important specifications that investors are looking for in the region. Either the location of this property is a good and appropriate location or it is a normal location, and this in turn affects the amount of demand for the real estate and thus increases the percentage of the possibility of selling the property and benefiting from it.
There are many good locations for buying real estate in Istanbul, including tourist ones, as in the real estate surrounding the Bosphorus Strait and real estate in Beylikdüzü, Şişli and other areas that contain natural ingredients.
There are also historical sites such as SultanAhmet Palace area, Başakşehir and other areas that contain historical monuments.
– Selecting real estate furniture :
Choosing real estate furniture is no less important than choosing the property itself, especially since the appearances, decorations and colors of the interior walls play a big role in attracting investors to the property. While in ordinary apartments, the furniture is between luxury and average, and this plays a major role in the price of the property and contributes to raising the success rate in real estate investment in Istanbul real estate.
-Choosing a property design :
The design of the property contributes to ensuring the investment success in it through the urban designs on which the property is built. These designs differ from one property to another and according to the type. In the case of tourist villas, the designs are impressive and attractive and inspired by the colors of nature in the city of Istanbul. As for the historical villas, the urban design is based on the designs of the old ones used by the ancients in the Ottoman and Roman civilizations, which adds beauty and attractiveness to them and contributes to their real estate success. As for the regular apartments, their design is polite and quiet away from the old columns and decorations.
-Choosing the view of the property :
The view is an integral part of the real estate site, as it is closely related to it, but in the same site you may find a property with a good view and another with a normal view. The view of the property contributes to ensuring the success of investing in it, and this makes the view of the property of great importance to investors while they are looking for properties for sale in Istanbul. One property may be overlooking a natural landscape such as a garden, a green grassy area, a water oasis, or a tourist landscape such as the historical landmarks and famous markets in this city.
-Choosing the environment surrounding the property :
The environment surrounding the property is represented by the service centers in Istanbul, such as entertainment centers, health centers and educational centers, which are a standard for real estate success and attract investors to the region, as well as the infrastructure in the region such as the road network and public facilities surrounding the property.
-Choosing a suitable investment method :
Real estate in Istanbul is one of the most important investments that investors are attracted to from all sides, and this is what made the real estate movement in the region in a state of continuous development, and there were many real estate investment methods in Istanbul real estate, and this led to the large number of real estate brokers in the region, and among these famous ways investors follow in the real estate investment process:
*Buying and selling real estate:
The sale and purchase of real estate in Istanbul is one of the most frequent transactions on a daily basis, and the arrival of investors from outside Turkey contributed to this, hoping for the advantages offered in the city. This process guarantees a good profit and makes a lot of money after selling the property that was purchased in the previous step, so there are several steps that must be followed to carry out the buying and selling process that guarantees success in Istanbul real estate:
1-Searching for a property:
In this step, the required specifications in the property are determined in terms of the city in which the property is located, the view and other specifications related to it, and then search for a property that contains or close to these specifications.
2-Searching for a property:
In this step, the required specifications in the property are determined in terms of the city in which the property is located, the view and other specifications related to the property, and then search for a property that contains or close to these specifications.
3-Purchasing the chosen property:
After completing the search process, the purchase contract must be signed with the property owner, but the terms of the contract must be carefully studied in order to avoid problems or exposure to fraud. The contract must also be signed at a public notary or a government department, and then extract the title deed papers for the property, receive its keys, and pay the full amount due and agreed upon between the two parties.
4-Searching for a real estate sale:
In this step, the offers submitted by other investors are listened to, and each of them has paid a certain amount, and here the role is to accept the largest offers made to buy this property and thus start the sale process.
5-Selling the property:
What matters as a seller is to guarantee the right during the sale process. It is necessary to pay a full amount of the property price called a deposit, to be paid after signing the purchase contract with the notary, and in another step after extracting the title deed, the rest of the amount is taken in one payment or in installments according to the agreement that was made between two sides.
6- Renting the property :
Real estate rental is the most appropriate way for investors who are looking for stability in Istanbul and who own another property to live in and leave the other property empty for real estate investment by leasing. This process takes place in steps similar to the sale process, but in this method, the property remains owned by its main owner, and no legal procedures against the property are changed. Rather, a contract is concluded between the two parties at a notary exclusively, making the tenant own the property, but for a limited period to be determined by agreement between the two parties.
This period is placed in the terms of the contract and a monthly or annual amount is paid to the lessor and also agreed upon in the terms of the contract. This method is considered the most effective because the lessor maintains his capital and ownership and earns good material amounts that are considered as income for him from renting the property that he has. This method has spread large because of tourists who come to Istanbul and need temporary housing until the end of the tourism period.
– Real estate mortgage :
Mortgage of real estate is the third method used in real estate investment in Istanbul, which guarantees success in it. The mortgage process is the process of referring to a property to carry out an agreed work between the two parties in order to guarantee rights and in order to benefit from this property during the period of completion of the work agreed upon between the two parties and this method It is the least prevalent in the region due to the great responsibility of the owner of the mortgaged property and this may lead to real estate problems between the two parties.
-Guaranteed real estate broker :
This is the most important reason that contributed to the multiplicity of real estate brokers in Istanbul, in order to ensure rights, ease of detailing Istanbul real estate and easy access to legal access to the facilities provided by the Turkish government in the field of real estate investment in the region, and in order for the real estate investment process to take place in a guaranteed and successful manner, steps must be taken regarding the real estate broker and the investment contribution:
*Choosing the right real estate company :
There are many and different real estate companies in the region after the great demand for buying real estate in Istanbul by investors and tourists from Turks and foreigners. Therefore, before adopting a certain real estate company, one must ask about the best real estate companies in the region, by asking this question to the former investors in Istanbul and communicate with the recommended real estate company and inquire about the types of real estate available to them and their specifications, and inquire about their prices, the required guarantees, and the company’s wages that must be paid. There is a big difference in the wages of real estate companies on the percentage of buying and selling in these properties, and then working with this company and looking at their properties provides a greater chance of success in Istanbul real estate.
*Approval of offers and advertisements :
In order to ensure real estate success and its speed, the investor depends on the presentations of the property by real estate brokers, and these offers are relied on in the buying and selling processes. In the event of purchase, the offers and advertisements provided by the real estate company are viewed and the property is selected from the advertisements and offers. In the event of sale, the investor takes the appropriate pictures and video of the property and publishes it through advertising offers through social media or through advertisements of the real estate companies concerned with this matter or through advertisements.
*Pay taxes and fees legally :
This condition is a prerequisite for ensuring the success of the real estate investor in Istanbul real estate, by paying all taxes resulting from the process of buying and selling real estate in the region, in addition to some financial fees for the papers extracted during the purchase of a property in it. There are many taxes that must be paid, which are:
-This condition is a prerequisite for ensuring the success of the real estate investor in Istanbul real estate, by paying all taxes resulting from the process of buying and selling real estate in the region, in addition to some financial fees for the papers extracted during the purchase of a property in it.
There are many taxes that must be paid, which are:
*Value-added tax: This tax is called value-added because this value is added to the price of the property at a certain percentage that is determined by the Turkish government and varies from property to property according to its location and area in square meters.
*Title deed “Tapu” number tax: This tax is paid when the necessary “Tapu” papers are extracted to the buyer. Without it, ownership is not transferred from the seller to the buyer. This tax is a specific amount approved by a government law and may change from year to year according to the change in the economy in the region.
*Tax for getting meters for the first time: This tax is paid when water, electricity and telephone meters are opened, if they have not been opened before, and it is paid once in a lifetime.
*Municipal tax: This tax is paid annually and imposed by the municipalities on each property in the city of Istanbul, so that an amount determined by the Turkish government is paid and all property owners are obligated to pay it in the relevant government departments, otherwise they will be subject to a fine that accumulates on the property annually.
*Monthly water and electricity fees: These fees are paid on a monthly basis and are in return for the water and electricity services that the property owner enjoys. They are small fees and are paid to the competent government department in this regard.
-Leaving a period of time between purchase and sale :
One of the most important conditions is to leave the property after purchasing it for a period of time estimated for years so that the benefit from real estate investment in it is great, due to the gradual rise in real estate prices in Istanbul, accompanying the economic and commercial development that takes place in Istanbul and accompanied by the prosperity of the real estate market in the region, so whenever you leave the property for a longer period, it guaranteed a greater profit, and if you left the property for 3 years, it became possible to obtain Turkish citizenship after the availability of several other conditions, which is what any real estate investor dreams of coming to Turkey with the intention of enjoying the advantages available in it and in its properties.
When you make sure to follow these conditions and steps when investing in real estate in Istanbul, we guarantee you success in this process in terms of stability, making money, living in a European community and getting greater chances of success through the real estate of this city, access to Istanbul real estate means success in real estate investment and means access to other investments such as commercial and industrial investment, which means continuing success and ensuring the future on the land of Turkey.
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