What is Your Advice to Buy a Property in Istanbul
When considering buying a property in Istanbul, it’s essential to approach the decision with careful consideration and due diligence. Firstly, research and select a reputable real estate agent or agency who can guide you through the process, ensuring transparency and adherence to legal regulations. Next, clearly define your budget and priorities to narrow down your options. Istanbul is a vast city with diverse neighborhoods, so choose a location that suits your lifestyle and needs, whether it’s proximity to work, schools, or cultural attractions. Always visit the property in person and thoroughly inspect it, looking for any potential issues or hidden costs. Familiarize yourself with local property laws and regulations, and consult a local attorney or legal expert if necessary. Finally, think long-term and consider the potential for resale value and rental income. Istanbul’s real estate market is dynamic, and a well-informed decision can lead to a successful and satisfying property investment.
Consider these when buying a home. In the beginning, the factors that should be paid attention to the home buyers are the features such as location and building age,The common feature of the houses that will gain value in a short time is that they are located in a developing region, When the house for sale is in a central and busy spot, its price increases even more, Considering the long-term, those who buy a house from a central point increase their earnings even more over time,
It is possible to buy housing at affordable prices in districts such as Sancaktepe, Esenyurt, Cekmekoy, Beylikduzu, Kartal, Pendik, Tuzla, and many neighborhoods of Kadıkoy in Istanbul. Eyup, where the number of housing projects has increased rapidly in recent years, Mecidiyekoy-Alibeykoy-Mahmutbey metro line, Eyup-Bayrampasa tram line, Eminonu-Eyup-Alibeykoy (around the Golden Horn) tram line, Incirli-Edirnekapı-Gayrettepe metro line, Gayrettepe-Kemerburgaz 3.Airport Rail Its system, Vezneciler-Sultanciftligi-Arnavutkoy metro line and Eminonu-Fatih-Eyup-Bayrampasa metro line continue to make a premium.
Sisli is a central district that’s experiencing significant growth in the business and commercial sectors. It’s an ideal location for investors looking to capitalize on Istanbul’s thriving economy.
Beylikduzu is a rapidly developing region in recent years and stands out with its housing projects and infrastructure works. It attracts investors with its proximity to the coast and modern living spaces.
Kadikoy, on the Asian side of Istanbul, has been experiencing rapid development. With its lively atmosphere, diverse culture, and easy access to the European side, it’s a popular choice for both residential and commercial investments.
When we take a look at the provinces other than Istanbul, we see that especially İzmir makes a high premium. Best House index data shows that İzmir- Menderes with 40%, Bursa-İznik with 37%, and Antalya-Aksu with 32% are at the top of the districts that earned the most in 2018. These three districts are followed by Foça with 28% and Güzelbahçe with an increase of 27% in İzmir. In Antalya, Alanya is one of the districts with the highest premium after Aksu, with an increase of 25%. In Ankara, the district with the highest premium is Polatlı with 21%, Akyurt is
in the second place with a premium rate of 17%, and Keçiören is in the third place with a premium rate of 10%.
Focus on the Local Market Istanbul has 39 districts and hundreds of neighborhoods, each with another unique feature. These regions, which have many sales points, offer much more
This is an issue that should be considered not only for investment purposes but also for those who buy housing for living. It is necessary to examine the legal status of the house. In other words, is the title deed of the house condominium or condominium servitude? You must know the answers to these questions. Pay attention to the condition of the land. If the house’s land is in a water basin or earthquake zone, it may cause problems in the future because it would be difficult to sell a house on such a plot. Even when it is sold, its value may not reach the expected figures. Be a good researcher. Investing in real estate requires being a good researcher. Whatever type of real estate you invest in, the regions that will shine should be a priority. Such regions always bring profit to the investor. It is important to learn how the housing sales and rental values in the area where you plan to invest have followed over the years.
The square meter of a house bought for investment is, of course, necessary. However, in recent years, there has been an interest in homes with small square meters. These types of residences are bought and sold for investment purposes, and it is even easier to find tenants. Find out your dues You should definitely find out the dues of the house you are considering buying. Because renting a house with high dues can be difficult. Calculate the rent multiplier The return of the money you give for the investment, that is, the amortization period is important. If you get back the amount you used for the investment in 20 years, it is not a profitable investment. Therefore, you should choose houses with high rental income. So be sure to consider the rent multiplier. For this, you need to divide the annual rental income of the house by the sales price
