Buying an apartment in Istanbul is a major investment, and it should be approached as such. If you’re considering purchasing an apartment in Turkey’s largest city, here are some tips to help you navigate the process:
The purpose of buying an apartment in Istanbul
There are many reasons to buy an apartment in Istanbul. Some of them include:
- Living in Istanbul: If you’re choosing to live in the city and not rent, buying an apartment can be a good option. It’s easy to find places that are affordable with low maintenance fees and utilities costs, making it possible for you to live comfortably while still saving money on other things like groceries or entertainment.
- Renting out your home: If you don’t want to live at the apartment but still want something useful out of it, renting is another option that could potentially bring in some extra income each month. This can help with budgeting as well as giving you more flexibility when it comes time for travel—after all, if someone else has been paying rent on your property while you’re away then there’s no need for unnecessary worry about whether or not everything will be okay back at home when returning from vacation!
Attention to building details
Attention to building details is especially important when you’re buying a pre-owned apartment. You need to check for things like leaks, damages and mold, as well as whether there are any improper construction practices that could be unsafe for you and your family. To check the overall condition of an apartment, look at things like:
- Ceilings
- Walls
- Floors
- Windows and doors
Attention to the document and ownership of the building
When you buy a property in Turkey, you must be aware of the documents required for buying. The first and most important condition is that the document must be valid and up to date. If not, then it can cause problems when registering your property at the Cadastral Office. You should also check whether or not your name appears on the deed or title deed and make sure that they are signed by both seller and buyer. Also, if there are any other people involved in this transaction (such as an attorney), their signatures must also appear on these documents too!
Finally, you will need to get all of these papers translated into Turkish so that they can be registered properly with Cadastral Office
Apartment price in Istanbul
- The average price of an apartment in Istanbul is $237,000.
- The average price of a luxury apartment in Istanbul is $1,040,000.
- The average price of a studio apartment in Istanbul is $214,000.
- The average price of a one bedroom apartment in Istanbul is $287,000.
- The average price of two bedroom apartments varies based on the neighborhood where it’s located: It can range anywhere from $300K to 2M!
Having a foreign currency account to buy an apartment in Istanbul
If you’re buying an apartment in Istanbul and want to take advantage of the low-interest rates currently available in Turkey, it’s essential to open a forex account. Forex accounts are generally opened by banks that offer both foreign currency and local currency accounts, so you’ll need to select a bank based on your needs. If you’re only going to use the account for buying property here in Istanbul, then it’s worth considering one of the many online forex brokers that offer competitive exchange rates at minimal cost (although these tend not to be as flexible when making payments). To open an account with one of these companies simply fill out an application form online along with some personal details such as your address and phone number. You’ll receive your new bank card within just one working day—usually less—and can start using it immediately without any other paperwork being required!
Attention to the location of the building
- Location of building: If a building is located in the city center, it’s easy to reach everywhere, but sometimes there can be noise and trash. On the other hand, if a building is located on the outskirts of town, you will have to face some problems like transportation and safety issues.
- Distance from city center: A good location is one that has less distance from city centers such as shopping malls, schools, universities and hospitals. This makes life easier for those who use public transportation or walking to go around their daily activities because they live nearby these locations without having any difficulty in getting there by foot or public transportations like buses and metro trains.
- Distance from sea/waterfronts: Seaside apartments are usually more expensive than non-seaside ones because they’re more attractive since they offer magnificent views over water bodies like seaside houses do.”
Apartment buying advice in Istanbul
The process of purchasing apartments for sale in Istanbul is different from other cities. The main difference is that it’s not a matter of buying one or two rooms, but rather a whole house. It should be noted that the contract and documents required to buy an apartment in Istanbul are slightly different from those of other countries.
First, you need to find a real estate agent who can help you find an apartment worthy of your taste and budget. There are many options when choosing an agent: online services and advertising agencies, as well as individual owners who want to sell their home without intermediaries. If you need help finding such an agent, we will be happy to assist you through our site!
Property ownership document in Turkey
In Turkey, this document is called the “Property Ownership Document” (Tapu Kaydı) and is issued by local government. It’s a legal proof of ownership and it’s valid for life. This document is also a legal requirement for selling or renting the property.
The process of purchasing apartments for sale in Istanbul is different from other cities, which should be considered.
The process of purchasing apartments for sale in Istanbul is different from other cities, which should be considered.
- When buying an apartment in Turkey, it is important to know the exact location of the property you want to buy. You may also want to consider whether or not there are any restrictions on selling or renting this property. Can you rent or sell your home as you see fit? Building restrictions can make it difficult for you to resell your home if your circumstances change and require that you move out of Istanbul before selling it. Also remember that some places have waiting periods before they allow foreign owners (non-Turkish citizens) full rights over their newly purchased property – this varies depending on the type of residency card held by said person(s). To avoid legal complications down the line when trying to sell up at a profit later down the line then look into these things beforehand so there aren’t any surprises during due diligence checks needed by banks when applying for mortgages/loans etcetera.”
Conclusion
When you buy a property, you will be responsible for the costs of your own maintenance, repair and renovation. The process can be quite complex, especially if you’re buying an apartment in Istanbul for the first time. If you want to avoid making mistakes, contact us today!
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