Do’s and Don’ts of buying a property in Istanbul

Apartment in Istanbul

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.
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Living in Istanbul

 

There is a huge demand for apartments in Istanbul owing to Population shift. Around fifty percent of the population is young and below 30 years. This means that Turkey has a large working population that translates to spiked economic growth. Istanbul is a place with the right mix of old and new which draws the people to own apartments. Turkey also has one of the fastest growing populations that will lead to shortages in apartments. Istanbul acts as a bridge between two continents Asia and Europe. For ages it has been the missing link between the East and the West. So the population of Istanbul is a mix of Asia and Europe. Istanbul also has a rich cultural heritage. It has blend of Greek, Roman as well as Ottoman empires. So you can find architecture with a blend of Eastern and Western style. One can see a few remaining Roman architecture signs like the Hippodrome, Basilicas cistern and the Column of Constantine. However the most impressive structures are the Hagia Sophia which was once the largest Cathedral and later turned into a Mosque by the Ottomans. Now it is a Museum and UNESCO world heritage site. The Blue Suleiman Mosque is one of the most impressive structures in the City.

Istanbul from water

Istanbul: A Panoramic view

However the tastes of people in Asia and Europe are similar when it comes to Apartments. There is a wide choice for housing here ranging from Simple Apartments to Villas. Many other kinds of luxury apartments are available all over Istanbul. It includes luxury apartments with swimming Pools indoor and outdoor, Club with Sauna and Billiards and Pool. Also Tennis courts, basket ball courts and Table Tennis is there for pastime. Maslak is one of the most sought after areas for buying apartments. Its proximity to Airport, Shopping Mall, Metro and the breathtaking Bosphorous makes it the place to live. Good health and education facilities in the area add to the aura. Another location is Esenyurt in Istanbul which is one of the green areas which are much sought after. Proximity to the Sea as well the Lake makes it for real serene living. Apartments are with all amenities, secure and nice place to relax after a good day at work. For families Belikduzu is the location. Variety of apartments are available ranging from 2 Bedroom to 4 Bedroom to accommodate nuclear as well as Large Families.

If you are looking for a happening place to buy property and retire in bliss Istanbul is the place.