It is very important to get information about real estate investment in Istanbul before starting to search for the right investment.
The number of foreigners who are looking for real estate investment opportunities in Istanbul has been on the rise for the past few years.
In this article, we will cover the most important information about real estate investment in Istanbul.
Tabu or Title deed in Turkey
Tabu (title deed) is the official document that mentions specific details about the property and its location.
There are many types of Tabu in Turkey, including:
- Land title deeds for both suitable for construction and agricultural lands.
These deeds show id the land is empty and suitable for construction or not. - Construction title deeds where the main information about the building is mentioned.
- Mortgage easement bonds state the main parts of the property. At this stage, the project is divided into sections. For example, apartments in a building.
- Full title deeds are issued after the construction phase is completely done, mentioning all the related details to the property, for example, the size and number of the apartment.
The best location to buy a property in Istanbul
There are many criteria concerning finding the best location to buy property in Istanbul.
Istanbul became one huge construction site lately, which offers real estate opportunities in each corner of the city.
- Some might favor the new districts in the city like Beylikduzu, or the oldest areas on the Asian side of the city like Eskudar and Kadikoy.
- Basin Express is also an attraction point for investors around the world. As it is the newest area in the city of Istanbul. It is witnessing a heavy construction movement, and the biggest project in this century, Canal Istanbul is scheduled to pass through Basin Express adding more value to it.
Choosing the best location for real estate investment in Istanbul depends mainly on the reason behind buying that property.
Some people look for a property to live in, some to invest and many investors look for properties to achieve both purposes.
Here we must stress the important role that the real estate consultants play in Turkey to ease the process of buying a property for any purpose.
Information about Real Estate Investment
- Minimize the time and effort that are related to buying a property in Turkey.
- Filing the gap between the Turkish seller and the foreign buyer, as these companies provide services that cover the needs of the foreign buyer.
- Taking care of the legal work that comes along with buying a property with the help of a legal team.
- Real estate management is an after-sale service that some real estate companies provide including Maximum property.
Real estate inheritance law in Turkey
Ownership in Turkey is full ownership and therefore in the event of the death of the foreign real estate owner, the property is transferred automatically to the legal heirs or distributed according to a will.
Both foreign and local owners are equal in the eyes of Turkish law.
Real estate investment in Turkey is one of the most successful investments due to many reasons:
- The high rental demand, especially in Istanbul city which has one of the highest numbers of visitors in the world.
- The mega infrastructure projects in Turkey are increasing the strength of the Turkish economy.
- The strategic location and the suitable economic climate to establish and manage businesses.
- The versified society contributes to making Istanbul welcoming to all citizens of the world.
- The high level of education and medicine.
- The easement of owning properties by foreigners in Turkey.
The number of foreign real estate investors is on the rise in Turkey.
The real estate market in Turkey now attracts many nationalities including Russians and Chinese.
The real estate market in Istanbul is one of the strongest in the world thanks to the huge number of options and the easy conditions for ownership.
