Istanbul Real Estate: Legal Requirements and Tips for Buying Property for Sale in Istanbul
As one of the most important centers for both tourism and trade, Istanbul is also the heart of the real estate sector. With the rapid economic growth, population growth inevitably increases and the need for housing rises accordingly. Economic conditions create opportunities and beautiful areas that will attract the attention of foreign real estate investors. If you are looking for a property for investment or residence in Istanbul, you should be informed about the issues to be considered in this regard and you should take some points into consideration when searching for property for sale in Istanbul.
Legal Requirements for Foreigners to Buy Property in Istanbul
The real estate sector has been very active recently due to rising prices and intense demand. If you want to buy a property for sale in Istanbul, which is becoming a center of attraction for foreigners, you can start by making sure that you fulfill some legal requirements. Here are some of the key requirements to keep in mind:
- Foreigners are not allowed to sell houses or real estate near military zones. Therefore, before choosing a property or deciding to invest, you should confirm that the property you like is not located in military and security zones by applying to the Land Registry Directorate.
- A maximum of thirty hectares of land can be sold to foreigners across the country. This figure is also the maximum total area you can own throughout the country.
- The property you will buy for investment or residence is not allowed to be larger than 10% of the area of the district in which it is located.
- You should make sure that your country is not subject to any ban on buying a property in Turkey. If you do not have information on this subject, you can also get information from the Ministry of Foreign Affairs or the General Directorate of Land Registry and Cadastre.
- Collect all the documents that need to be prepared for the sale of property to foreigners and keep them ready.
Working with a Real Estate Agent
If you want to buy property for sale in Istanbul and you are not familiar with the procedures or you think you will get lost in the process, the best option is to work with an experienced real estate agent who has a large portfolio and can find you the most suitable house or property in Istanbul.
Benefits of working with a real estate agent include obtaining information about the many advantages of buying a property, from citizenship rights to tax exemptions, and letting your agent take care of all the legal and bureaucratic processes. You can discuss in detail the most suitable location in Istanbul, the real estate options that will fit your budget, and the financing support you need. Thus, you can draw a clearer road map. You can complete this process, which would take much longer on your own, with much less effort and get your property as soon as possible.
Tips for Buying Property for Sale in Istanbul
In a center such as Istanbul, which is considered one of the largest metropolises in the world, it is important to carry out research in accordance with your reason for buying real estate and to obtain a reliable consultancy service to ensure that the process proceeds transparently. The purpose for which the property is to be purchased needs to be determined in order to complete the appraisal, price collection, offer submission and other transactions, including taxation and document collection. Your advisor will work separately for investment property and separately for residential property. Clearly identifying the purposes contributes to the acceleration of your purchase process.
Revolutionizing Property Research in Turkey with Mulkiyet.com
When searching for property for sale in Istanbul, Mulkiyet.com is one of the best platforms to consider. With a range of options and services offered on the platform, finding your ideal home is much easier. Our team will evaluate all options while taking your wishes and needs into account. Whether you’re looking for a property for investment or residence, we will find your dream property and handle the process seamlessly. Contact us via email or phone for all your real estate needs, and let us help you find the most suitable project for your priorities.
With the right knowledge and guidance, investing in real estate in Istanbul can be a smart decision. By working with an experienced agent and following the necessary legal requirements, you can find your dream property in Istanbul and make a successful investment.