Your Guide For Buying Apartments in Istanbul

Many Arabs have recently turned to living, residing and settling in Istanbul, and even buying apartments and investing in Istanbul, especially after the reciprocity law changed and foreigners were allowed to own apartments.

Istanbul is considered one of the most important destinations that Arabs visit for stability, investment, and purchasing homes, which are considered among the most important goals of the Arab community.

This, in turn, led to an increase in the percentage of apartment sales to Arabs during 2019 compared to 2018, as it exceeded 80%, with Iraqis coming in first. The city of Istanbul came at the forefront of the Turkish cities preferred by Arabs.

Why Istanbul?

During the last ten years, the city of Istanbul has witnessed a major urban and cultural renaissance, which made it a destination for many investors and immigrants from the Arab community. It is the largest selling city in Turkey in 2019, as the percentage of sales in it exceeded 20% of the total sales throughout Turkey, and the city dominates Istanbul is always a priority for local and foreign investors, as real estate activity and its real estate market have not declined at any time.

This is in addition to the fact that its population exceeds 15 million people, and its growth rate that exceeds expectations, has contributed to Istanbul being the capital of major real estate projects, especially in the last nine years. The annual increase in house prices in Istanbul has risen to exceed 106%, after the price of a square meter was Investment buildings cost one thousand and eight hundred liras, and now they have reached four thousand liras.

Experts stress that investors should not rely on prices per square meter only in their purchases of apartments in Istanbul, but should take into account the potential for growth and development in the area in which they want to purchase the property.

The city of Istanbul is distinguished by the availability of apartments suitable for all tastes and budgets. It is possible to find many investment opportunities on the European and Asian sides of the city. Istanbul is also considered the economic, tourist and cultural capital of Turkey, and is considered one of its largest and most important cities due to its strategic location, in addition to being a center for the Turkish labor market. It contains many international and local companies, as Istanbul covers approximately 35% of the Turkish workforce, which allows its residents to obtain a suitable job opportunity for them. In addition to all of that, it contains a modern transportation network that facilitates movement between its neighborhoods on its European and Asian sides. Therefore, it is the ideal choice for buying homes in Türkiye.

Average apartment prices in Istanbul

 The prices of apartments and houses in Istanbul vary depending on the region, especially the European side, which includes a group of regions that constantly maintain their real estate value.

According to the latest statistics for the year 2019, the price per square meter of apartments in Istanbul ranges between 2,000 and 10,000 liras, according to the area, the facilities available there, the ease of transportation, and its proximity to the central areas. The average price per square meter ranges between 2,000 and 5,000 Turkish liras.

Standards for measuring apartment prices in Istanbul

There are several factors that can affect the prices of apartments in Istanbul, the most important of which is the location of the region, as the prices of apartments located in areas in the heart of Istanbul differ fundamentally from apartments located in areas located on its outskirts, and one of the most important factors that also affect the price is the apartment’s proximity to famous marketing centers, Its proximity to modern transportation lines such as the Metrobus, the metro, the Marmaray, and the tram, which facilitate transportation between the city’s neighborhoods on the European and Asian sides.

The region's proximity to infrastructure projects such as bridges and service facilities such as public parks, schools, universities, and restaurants greatly affects the price. The price is also affected by the region's proximity to Istanbul airports, such as the new airport and Sabiha Gokcen Airport. For example, this applies to the Basaksehir area, where apartment prices are expected to rise due to its proximity to the new Istanbul Airport.

The price is also affected by whether or not the apartment is close to the main street and whether it is located within a residential complex that contains many services and facilities.

Things you should pay attention to before buying an apartment in Istanbul

Before buying an apartment in Istanbul, you must pay attention to several things, the most important of which is the age of the property, which greatly affects the price, and later also affects the internal use of the apartment, and the need for reconstruction and repair, so it is better to buy a newly built apartment, but taking into account that the property has all Permits and building permits.

When purchasing an apartment within a project under construction for the purpose of investment, you must verify all licenses for the apartment and the company establishing it. You must also consider choosing a house located in an area that includes all social facilities and close to means of transportation, especially if you have children who go to schools and universities, and it must be The apartment is suitable for the housing system, and it is necessary to obtain a title deed in your name after verifying the apartment and completing all legal procedures.

How to choose the right real estate company

When choosing a real estate company to buy an apartment in Istanbul, you must pay attention to the company's age and reputation within the Turkish real estate market, the projects it has already implemented, in addition to the size of its projects, the percentage of its sales, and the facilities provided in each project.

You must pay attention to the permits for the project from which you want to buy the apartment, and make sure that there are no problems for the company with the municipality, such as obtaining a building permit and a license that specifies the number of building floors. The prices provided by the company can also be compared with the prices of other companies for projects of the same size and specifications and in the same area.

It can also be seen that the company cooperates with the Turkish Ministry of Housing and implements projects in cooperation with it, which gives it more credibility.

Promising areas in the real estate market in Istanbul

The Turkish government seeks to enhance the role of the city of Istanbul globally by implementing many projects that are already in place and planned for implementation in the future. The city includes many promising areas in the real estate market, including residential and commercial areas.

The Esenyurt area is  at the top of the leading areas for buying apartments on the European side of Istanbul, as it is one of the most important areas whose real estate value has increased very quickly thanks to the major real estate projects that were conducted there, in addition to the availability of utility services and means of transportation and public transport there.

Among the most promising residential areas in Istanbul is the Başakşehir area  , which is affiliated with the Bahçeşehir and Kayaşehir areas, and its investment importance lies in its proximity to the new Istanbul Airport and the Istanbul Canal project. It is one of the newly established areas, as it was established in 2009 and was previously affiliated with the municipality of Kucukcekmece.

The Buyukcekmece area  , located on the Metrobus line, is distinguished by its view of the Sea of ​​Marmara and its vast green spaces. Its investment importance lies in its location on the E5 highway, in addition to the fact that the prices of apartments there are reasonable given its relative distance from the center of Istanbul.

Zeytinburnu area  , which is considered one of the most important vital centers of Istanbul, and its investment importance lies in its proximity to the E5 highway, its proximity to the Sea of ​​Marmara, and it is characterized by the strongest transportation network in Turkey.

The Kucukcekmece area  is one of the upscale areas of Istanbul, where the houses are distinguished by its wonderful sea view with the famous Kucukcekmece Lake. Its investment importance lies in the passage of the Istanbul Canal through it, which is one of the most important infrastructure projects in Turkey, in addition to its proximity to the Metrobus line.

One of the most promising commercial areas in Istanbul is the Sariyer Maslak area  , located on the Bosphorus Strait on the European side of Istanbul. The region is a center for the most important international and local companies. It also has an excellent transportation network and is half an hour away from the new Istanbul Airport.

The Basin Express area  is considered one of the most important and promising investment areas in Istanbul, and its importance lies in its strategic location in the center of European Istanbul.

Turkish citizenship after purchasing your apartment in Istanbul

One of the most important advantages of buying an apartment in Turkey is the possibility of applying for Turkish citizenship when purchasing an apartment worth $400,000, after purchasing it and obtaining the title deed.

In the beginning, the apartment must be evaluated by real estate specialists accredited by the Title Deed Directorate and the Turkish government. The specialist prepares a complete report for the Title Deed Directorate, attaching all the legal licenses for the building, with the necessity of mentioning the price of the apartment, which must exceed 400 thousand US dollars, but on the condition that All financial transactions are done through banks, where all payment receipts are attached to the title deed.

The apartment must not be part of a project under construction, and a pledge must be made not to sell the apartment for a period of three years, in which case the final title deed will be issued. Then obtain a matching document from the Title Deed Department, thus all conditions for obtaining citizenship by purchasing an apartment in Istanbul have been met, and then the possibility of applying for Turkish citizenship and the Turkish passport, which is considered one of the most powerful passports in the world.