Investing in apartments or offices in Istanbul, which is better?
You will certainly be puzzled when investing in real estate in Istanbul, as this market is known for its wide diversity and multiple options. What do you think is better for real estate investment in that city, apartments or offices?
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Before getting into the topic, let us tell you that Istanbul is the only city in the world that spans two continents at the same time, and its real estate diversity starts from the old architectural style to the modern one.
Through the following article, we provide you with the most important information related to apartments and offices so that you can choose correctly what suits you for real estate investment.
What is the difference between apartments and offices in Istanbul?
You should know first that the difference between these two types of real estate in Turkey is a vast and big difference, apartments are residential real estate and offices are commercial real estate. You have to know that commercial real estate is more expensive than residential real estate and at the same time provides the highest returns and profits.
Advantages of buying apartments in Istanbul:
1 – This city is a unique exception that combines all the distinctive characteristics. It is a global tourist destination for tourists from all over the world, and there are thousands of trips organized to it annually.
2 – The procedures for buying apartments in Turkey are very easy. In every municipality and district of Istanbul, there is a government institution in order to facilitate the process of ownership for citizens from documenting the title deed and other procedures.
3 – Over the past years, this city has been at the forefront of Turkish cities in terms of real estate sales, and you can see that most investors choose to search for apartments for sale in Istanbul, especially the European side of it, in order to be near the most important development projects in Turkey.
4 – This city includes different types of apartments, the most famous of which are located in advanced and modern residential complexes, which are a safe environment for housing and a distinctive model of integrated life. Due to the increased demand for it, construction companies are competing with each other to present different and competitive models.
Apartment prices in Istanbul:
The issue of prices is one of the first points that you are interested in researching about and knowing everything related to it when buying an apartment in Istanbul in order to decide whether your budget is sufficient or not.
The prices of apartments in Istanbul vary according to the area in which they are located, and according to the specifications of the apartment, its area, the number of rooms and its decorations.
You have to know that the prices of apartments in rural areas are lower than those in the city center. Silivri is one of the cheapest areas at all.
Keep in mind that you can find cheap apartments, as there are those who want to sell them urgently because of their urgent need for money or if the title deed of the apartment is shared.
The prices of apartments in Istanbul are much cheaper than the prices of apartments in the cities of the American continent or in the European Union, and this is one of the main reasons that encourage rich people to search for apartments for sale in them.
How to buy an apartment in Istanbul?
Do you think buying an apartment in this city is easy? You should know that you will go through many stages and there are several steps to follow:
– First of all, a tax number must be obtained from the Turkish Tax Department, and this can be done within just minutes.
– Later, an account must be opened in a Turkish bank, because one of the conditions for buying a property in Turkey is that it be paid for through the bank.
– In the third stage, the contract must be signed between the seller and the buyer, and then a security approval must be obtained to ensure that the property is not located in a military or security area.
– Finally, the apartment key is handed over to its new owner after the buyer has paid all the agreed-upon amount.
Examples of Istanbul areas for buying apartments:
Buying an apartment in Esenyurt – Istanbul:
This area is characterized by its location on the European side of the city and is witnessing activity in its real estate sector and is known for its acceptable prices that suit all budgets.
Buying an apartment in Basaksehir – Istanbul:
This area is considered of great importance, and this matter has emerged clearly during the previous years with the noticeable increase in apartment prices. It enjoys urban modernity and is characterized by being the region of the rich Arabs and sees that the prevailing atmosphere is the eastern conservative.
Its value has increased in terms of real estate investment due to the presence of the Istanbul Water Canal near it, which is no less important than the prices of luxury Bosphorus properties. It is characterized by luxurious residential complexes equipped with the highest quality standards.
Buying offices in Istanbul:
There is a wide spread of this type of real estate in Istanbul, and you can find it everywhere. The presence of these offices is particularly concentrated in the city center, where modern and promising real estate projects are located. Here are the most important areas that you can search in.
1 – Buying an office in Levent – Istanbul:
It is one of the most lively and active areas in the city and is famous for having the tallest buildings and skyscrapers, it includes the Saudi Consulate, and it has roads that connect it with the Bosphorus Bridge and Fatih Bridge.
It is characterized by a developed infrastructure and includes a large number of huge shopping centers and a number of branches of Turkish banks in addition to international hotels, as well as pharmaceutical factories.
2 – Buying an office in Maslak – Istanbul:
This area is considered an important commercial center in Turkey in general, and not only in Istanbul, and is preferred for establishing investment business, based on several factors, including the location that mediates both sides of the European and Asian city, in addition to the fact that it includes many huge commercial towers and skyscrapers.
This area is located in one of the most luxurious and prestigious areas of the city (Sariyer) and is only five minutes away from the Bosphorus.
You should know that offices located in the city center are more expensive than those located far from it, and that the age of the office and the presence of design and construction have a key role in determining its price. It is worth mentioning that office prices in Basin Express are fairly reasonable and its future is great, especially after the completion of the construction of the new Istanbul Canal.
For each of the two investment options, there are positives and negatives. You should review them in detail before making a decision. If you have any questions about this issue, you can contact us so that we can help you and provide you with the most important investment opportunities that exist in Istanbul.
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