Property search is not easy; you can find the most important elements to consider when searching for the best investment in Istanbul that will make your search much easier and help you reach your investment goals.
There are many criteria to consider when buying an apartment or making a property investment in Istanbul; however, only a few will help you find the best investment in Istanbul. For example, the material quality, project developer, interior design, and innovative home features. You can even change the number of bedrooms or bathrooms after purchasing a property. However, the most crucial elements you should evaluate are those you cannot change after making your investment. So we have listed six topics that will help you find the best investment in Istanbul.
The important thing here is whether a “good” location or “bad” location won’t stay like that forever, especially in a city like Istanbul. Istanbul is a living organism that changes day to day, the neighbourhoods you would avoid walking through are transforming into new residential centres.
So to find the best location in Istanbul for your property search requires local expertise, insight information and years of experience. The right agent can guide you through these unknown territories and help you find the best options to help you reach your investment goals.
These are the top features you should consider to find the best investment in Istanbul
- Future development
- Average Prices
- Developer of the property
- Rules & Legislations
1. Neighbourhood in Istanbul
The neighbourhood determines what kind of tenants you will have and directly affects the exit strategy of your property investment. So even if you intend to live in the apartment or rent it out, the neighbourhood is the most critical decision making factor.
Istanbul is the only city separated by sea and spread across two continents. Istanbul’s unique features are also why most investors focus their property search on one or the other side of the city. That is a decent strategy and starting point for first-time property buyers. However, the Asia and European sides of Istanbul have different characteristics that may affect your decision.
The European side is slightly more developed and crowded, defined as a business centre by locals; on the other hand Asia side of Istanbul offers cleaner air and less populated living within nature. Moreover, the European side is attacking investors with well-established infrastructure for residential centres, easy access to the new Istanbul airport, and high quality branded construction projects. Meanwhile, the Asia side is attracting investors with increasing future value and a less crowded and populated easy lifestyle.
Amenities are an important part of any real estate project. Luckily projects in Istanbul provide high standards and rich social facilities in compounds.
- Fitness Center
- Indoor Parking
- Play Ground For Children
- Basketball Court
- Indoor Pool
- Swimming Pool
You can find and filter properties having specific amenities and social facilities in the Listing Turkey properties section.
3. Future Development
A Real estate investment is not a short term investment, and it is wise to plan your exit strategy; even if you want to sell your property in 5 to 10 years, you will be dealing with local buyers. So the key to understanding the future development and the value of your property in 10 years is a crucial decision factor. That is also the critical essence and importance of valuable local expertise and advisory.
4. Average Prices
Istanbul is a highly diverse city with many investment alternatives. Even though it may look like it is not the large as the area, it spreads into two continents. Istanbul is also split into 39 districts, 25 of which are on the European side and 14 on the Asia Side. Therefore, every neighbourhood has a different characteristic. Even in different districts, you can see huge differences since Istanbul is a heavily occupied city. So checking out the document below will help you understand neighbourhoods and their average prices and gives you a general idea about Istanbul’s real estate market and districts.
5. Developer of the property
Turkish real estate developers have played an essential role in growing Turkey’s economy and expanding their operations worldwide. However, the property developer is much more critical when investing in an off-plan project. Listing Turkey is a reliable source in which you can see a list of project developers‘ completed and ongoing projects. Check Listing Developers for the full list. Also, you can see the developer of the project in every listing.
6. Rules & Legislations
Property purchase for foreigners, mainly if you aim for Turkish citizenship, is a delicate process. Every step must be carried on by expert lawyers and certificated real estate advisors. Any missing procedure like property evaluation or residency permit application may cost you time and money. A similar situation goes for tax exemption procedure which experts should carry on. Contact our local experts for detailed information regarding this procedure.