The Ultimate Guide to Istanbul Real Estate: Buying, Selling, and Owning Property
Istanbul’s Real Estate Market is strong and desirable, especially among local and international investors.
But for those unfamiliar with the market, will need help navigating the legalities and processes.
Here is a list of FAQs, we tried to answer all your questions.
Can foreigners buy property in Istanbul?
- Yes, for sure foreigners can buy properties in Istanbul. Only citizens of Syria, Cuba, North Korea, and Armenia are excluded.
Can I get residency in Turkey by buying a property?
- Yes, you can obtain the residency through Real Estate Investment. If you purchased a property valued at a minimum of $200,000. To learn more
Who buys most properties in Istanbul?
- Locals: Turkish buyers shape more than 80% of the Real Estate market.
- International investors: Istanbul is a desirable destination for investors looking for high Capital Appreciation and a stable Real Estate market. Plus, Obtaining the Turkish citizenship through Real Estate Investment. Lately, Russian Investors have dominated the domain.
- Families: Families are moving to Istanbul looking for a suitable environment to raise children,
Can I receive the Turkish Citizenship Turkey by buying a property?
- Yes, you obtain the Turkish Citizenship through Real Estate Investment.
But there are certain conditions and regulations to follow:
- Purchase a property or properties valued at $400,000 or more.
- Retaining ownership of the Real Estate unit for 3 years.
- Must submit property or properties with one notarized contract only.
Can I sell my property in Istanbul?
- Yes, you can sell your property. However, if you apply for Turkish citizenship you cannot sell your apartment for 3 years, there will be a hold on it.
- Remember only debt-free Real Estates are permitted for reselling.
Do I need a translator when buying property in Istanbul?
- You wouldn’t need a translator to buy a property in Turkey. Almost all Real Estate agents speak English.
- You only need a sworn translator while signing the sale contract at the notary office.
How can I find a buyer for my Istanbul property?
- There are multiple ways to find good buyers.
Real Estate Agent:
You can ask a reputable Real Estate Agent to enlist your property and find a buyer. Also, they will
- Local realtor:
Ask local realtors (emlakçı in Turkish) to find a buyer from the neighborhood to buy your apartment.
Online Platforms:
You can enlist your property on online platforms such as (Sahibinden) to look for a suitable buyer. However, you need to do all the work.
Can I rent out my property in Istanbul?
- Yes, you can rent out your apartments.
- You have two options, monthly or annually. Choose according to your investment plan.
What types of properties are available in Istanbul?
- Apartment: The most famous type of Real Estate, it’s easier to resell an apartment than any other type.
- Villa: Favorite type for families and vacation homes. You can rent it out via online platforms during the high season.
- Commercial Units: There are Shops, offices, clinics, and restaurants. With commercial units it’s a bit harder to resell, however, you have a rental guarantee from the developer.
Who pays for the building maintenance fees?
- In Turkey, the tenant is responsible for paying the maintenance fees (Aidati in Turkish).
Hopefully, after reading our list, you believe that the process of buying Real Estate is simple and clear.
And, if you have any other questions, please feel free to contact us via our website or WhatsApp message
FAQ
Yes, they do. Foreigners have the right to own properties in Turkey.
Yes, you can buy more than one property. However, the properties should be submitted, with a single notarized contract.
In Turkish, "Tapu" refers to a property deed or title deed, an official document issued by the Turkish Land Registry and Cadastre Directorate to prove ownership of a specific piece of real estate.
Istanbul
Istanbul is a major city in Turkey that straddles Europe and Asia across the Bosphorus Strait. Its Old City reflects cultural influences of the many empires that once ruled here. In the Sultanahmet district, the open-air, Roman-era Hippodrome was for centuries the site of chariot races, and Egyptian obelisks also remain.
