Last time we discussed how beautiful Istanbul is. If you want to own a property here now is the right time. However there are dangers too which should be kept in mind. Take into account all the pros and cons at each step. To make it easier I have listed some do’s and don’ts in brief.
Now for a brief do’s and don’ts while buying apartments in Istanbul:
- Purpose : Take into account the purpose of buying an Apartment. It can be for living as well as for investment. So be careful with the purpose.
- Buy Apartments in Happening Areas: Go for areas which are growing and also see the facilities available for the money you are paying.
- Research and find the right agent: Look for a local real estate agent, do research online and also be aware of the legislations.
- More than one Source :Get information from more than one source to make sure about genuineness.
- Long term Investment :If the property is for investment purpose always invest for a longer period than 5 years to hedge against risk of loss. Real Estate works in the same way as stock longer the time of investment smoother the Profit.
- Choose the tenant carefully: Last point to note for those who will let out their property as rented accommodation, Be careful and choose the tenant carefully with proper knowledge of the local authorities.