How to Go About Investing Istanbul’s Real Estate

When one hears about the beautiful city of Istanbul, one of the first things that comes to everyone’s mind is its history, massive mosques, bazaars and of course primeval streets that comprises some of the finest spots to experience authentic Turkish cuisine. The baklava, a customary Turkish dessert, has its geneses around Istanbul.

History of Istanbul

The metropolitan just like other parts of the nation vets in it an extensive, dynamic history behind it. Previously known as Byzantium or Constantinople during the time while Christian emperors ruled, the town turned out to be modern day Istanbul only in the 1300s. Just after conquering Turkic tribes made Constantinople their household and the seat of power for the approaching Ottoman Empire that governed almost on the whole of Middle East, Balkans, this is all the way south to the horn of Africa. As the Ottoman Empire stretched out, so did the metropolis. Turkish communities, who in their initial days were itinerant tribes of Eurasia, soon occupied the declining Byzantium. Afterwards a successful crusade, Mehmet II, one of the most persuasive of the Ottoman sultans efficaciously took Constantinople and converted it into an Islamic epicenter of art, literature as well as the capital city of the Ottoman kingdom that would keep on increasing in the subsequent two centuries.

So, much like the times gone by behind the city’s leaders, there is also history behind the city’s monetary life and activity. The oddest area is the eastern part of the city, just around the Bosporus strait lined with primitive structures, ancient leftovers of the past, not to forget the Hippodrome that formerly existed here, a mammoth complex that was in the past used to hold sporting events particularly chariot racing. On the other hand, the real estate in Istanbul lies in the western part that is the contemporary version of the metropolitan and makes Istanbul a truly urban region. Comprehensively industrialized and structured at par with up-to-date financial cities of the world, the western part is both beautiful as well as comfy with its Mediterranean weather.

Hot Properties

Properties for sale in Istanbul are principally in this region. From sky-high residential apartments, commercial centers, and hotel apartments equipped with quality furnishings. The western section serves you with the finest standard of living that’s hard to find in the whole of Eurasia while giving an incredible tourist experience in the eastern part.

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What Should You Consider Before Eyeing On Istanbul Real Estate for Sale

Istanbul is one of the most populous cities in Turkey and country’s economic, cultural, and historic center. It is a city well-known for its natural beauty, food, and rich heritage. Being an exotic place, Istanbul has been a favorite travel destination across the world.

Everything about Istanbul is awesome whether it is its world famous cuisines or exquisite monuments. No doubt, it is a dream city to live in. If you are contemplating to buy a property and eyeing on Istanbul real estate for sale, you need to know come crucial factors to ensure you make the right decision.

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This post explains things that may prove handy for you to turn your dream of living in Istanbul into reality. Read on!

Go For Authorized Dealers Only

It is essential for you to recognize whether the dealer you want to approach is genuine or not. Every move you make for buying a property in Istanbul will go into vain if your property dealer is not genuine. As you know, real-estate marketing is full of fraudsters who are ready to grab your hard-earned money by giving your false information or showing fake benefits. Though everything is in your hands, after all, it is your money and dream to buy a property in your favorite city.

Location Matters

Without a doubt, location matters. Before eyeing on Istanbul real estate for sale, it is important for you to do some research work. As you know, the price in real-estate greatly varies regarding location. If you do not want to buy property in the center of the city because you want peace, then get ready to lose some extra money from your wallet. No need to worry as you will be paying for the comfort you want to get.

Connectivity

Another significant thing that you cannot afford to overlook is transportation options. Before investing your hard-earned money, make sure the place you chose have proper connectivity to the other ends of the city including your workplace, supermarket, and so on.

Safety

Another important consideration is how safe the place is where you want your invest your money. For this, do your homework, search crime rate in the area. By the way, Turkey has a lower to moderate crime rate as per Numbeo.

Legal Formalities

Before eyeing on Istanbul real estate for sale, make sure you know everything about the procedure for buying property. Find out how much you have to pay, read guide laid down by authority, time involved in the procedure. For this, you can hire a real-estate professional.

Conclusion

You can follow the points explained above to make things a bit easier for you.

All You Should Know About TAPU Before Purchasing A Turkish House

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Be it Istanbul apartments for sale or sea-side villas in Antalya, if you are interested in purchasing a Turkish house, you must know about TAPU. Tapu is a Turkish title deed – a document which confirms the ownership of your property in Turkey. A Tapu is an abstract from the Turkish real estate registry which contains information regarding the purchase.

  • The first paragraph of this title deed contains the address of the property where it is located.
  • The second paragraph contains photos of the property owner.
  • The third column of Tapu is dedicated for mentioning the number of the Cadastral Registry Office.
  • The fourth para of the document contains the name (purpose) and area of the property. According to Turkish law, the owner of the apartments also have share of the land on which the building is located.
  • The sixth column of the document contains information about the property like type of construction, number of floors,
  • Another mandatory information mentioned in Tapu is – declared value of property. It may slightly vary from the original

Tapu is printed in the Cadastral Office and is certified by the authorized officer.

Buying Apartment? Know Here Which Payment Scheme Will Suit the Best

An Overview

Buying apartments in Istanbul is a huge financial step that could be substantial for an ordinary family. Most of us get exhausted as our all savings gets expend when buying a home. You can have the option to take some loan to able to pay the total cost of the property. Hence, to make the situation a little stress-free, many builders today offer different payment plans and schemes to ease the situation of payments. Moreover, the different payments are discussed in this blog from which you can choose the one which suits your financial situation as the best:

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Down-Payment Plan

This plan is the most conventional scheme where you and people like you have to pay approximately 10-15% upfront that is called down payment. At the time of booking of the apartments in Istanbul 80-85% of the total cost within 30-90 days of booking. The remaining 5-10% balance amount, along with additional charges if any is paid at the time of possession. Go for this scheme if the development is near to the completion. This becomes the chance of the builder to miss the deadline. Also, if you have the money and simultaneously trust the builder, you will get the best bargain under this scheme.

Construction-Linked Plans

As the scheme suggests, the payments done under this plan are linked to the construction stages of the apartments. In this, you have to pay around 25-30% of the purchase price within ninety days from booking time and the balance in the installments can be set on completing different construction stages. It is 10% of the total cost on completion of every floor. Also, you can likely to get discounts as well under this plan. Go for this scheme if the project in real estate of Istanbul is in its initial stages.

Time-Linked Plan

Below this plan your installments becomes time-bounded. In this, you have to make payments based on a pre-determined calendar set by the builder from the real estate, irrespective of the progress that the project has made. Any delay in the installment means you will have to pay penalties with interests as payable as well. However, the risks are higher; some builders offer a discount on time-linked plans as well. Go for this scheme if the construction of the apartments in Istanbul is in its mid-stages.

Flexi-Payment Plans

This plan comes with a combination of down-payment and construction-linked plans. In this, you are required to pay 10% when booking the apartments, another 30-40% of the property value within 30 days of the booking. The rest 50% to 40% payment is made in installments similar in a construction-linked plan. The last 10% charges are paid at the time of possession. Since these payments are linked to the stages of construction; it is a safe option in case of any delay.

Wrapping Up!

Hence, by applying these schemes, you can easily get you desired apartments in Istanbul to live with families.