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Istanbul, the historical and cultural capital of Turkey, is one of the popular destinations for real estate investment. Due to the strategic location of this city and its increasing progress, buy property in Istanbul has been presented as a unique opportunity in the global property market. In the following, focusing on buy property in Istanbul at a reasonable price, we will review the key points and guidelines for foreign investors.

If you intend to buy property in Turkey, especially in Istanbul, Hausbiz is with you so that you can find the best properties according to your budget and taste and buy them at the best price.

Tips for buying property in Istanbul

Buy property in Istanbul may be a bit challenging for foreign investors who come to this country for the first time. But don't worry, because HausBiz can help you in all areas, including finding the property you want, checking the property, legal and banking issues, the contract, interior design and decor, obtaining Turkish citizenship by investment and many other things. In the following, we will examine some points that you should keep in mind when you buy property in Istanbul.

Identification of needs and goals

Before starting the process of buy property in Istanbul, it is important to define your needs and goals. Are you looking to buy a property for permanent residence or are you just planning to invest? Do you need a property in the center of Istanbul or do you prefer the suburbs? By determining your needs and goals, you can choose the best option to buy property in Istanbul.

Market research

Before any purchase, it is necessary to research and check the real estate market in Istanbul. Identifying areas where property prices are more appropriate can help you find the best opportunities. Also, examining the legal and financial conditions of buy property in Istanbul, including the laws of ownership by foreigners and the rental of properties, is important.

Cooperation with real estate agents

Cooperation with experienced real estate consultants can make the process of buy property in Istanbul easier for you. With comprehensive information and knowledge of the local property market, these consultants will help you choose the best option and make an easy and quick transaction.

Check prices and negotiate

Studying the property prices in the desired area and comparing them with each other is one of the most important stages of buy property in Istanbul. Prices are different in different areas of the city and may be negotiable. Therefore, when buying a property, negotiation skills and the ability to take advantage of discounts are very important.

Checking the legal and financial status of the property

Before making any transaction, be sure to check the legal and financial status of the property. Make sure that the property has a valid title deed and no debts on it. Also, have an independent legal advisor by your side to review the contract to make sure of your rights and obligations in the deal.

Checking the technical condition of the building

Before making the final decision to buy property in Istanbul, check the technical condition of the building. The property may need renovations or repairs that should be considered in the final price assessment of the property.

Property price in Istanbul and factors affecting it

To buy property in Istanbul, one of the most important factors is the price of the property. Various factors affect the price of real estate, which we will examine some of them below.

• Geographical location: The geographical position of Istanbul is very important as a gateway between the Asia and Europe. The possibility of easy access to international markets and the existence of suitable transportation facilities increase the price of property in the central areas of Istanbul.
• Development and construction: Development and construction in Istanbul is one of the main factors in determining property prices. The presence of large construction projects, increasing property supply and competition between builders can reduce prices. In addition, renovation and reconstruction of old areas can also have a positive effect on the purchase price of property in Istanbul.
• Supply and demand: supply and demand in the real estate market in Istanbul affects the prices. If the demand for buy property in Istanbul is more than the supply, the prices will increase. In addition, factors such as economic growth, government policies, interest rates and changes in foreign ownership laws can also affect demand and supply.
• Facilities and services: The existence of amenities, public services such as hospitals, international schools, shopping and cultural centers, parks and green spaces, has a significant impact on real estate prices. Areas that have more facilities and services around them will usually have higher prices. Also, the internal facilities of the building such as swimming pool, security system, playground, gym, etc. also affect the price.
• Economic conditions and inflation: economic conditions and inflation rate in Istanbul can also have a significant impact on property prices. In periods of economic recession and increased inflation, property prices may decrease. Also, the exchange rate and its changes can also affect the prices, especially for foreign buyers who use the local exchange rate.

How to find a cheap house in Istanbul?

If you intend to buy property in Istanbul at a low price, there are several ways ahead of you to find the cheap house you want. In the following, we will examine some of these ways.

• Searching for suburbs: The suburbs of Istanbul usually have lower prices compared to the central areas. By focusing your search on the suburbs, you may be able to find a home for a better price.
• Consultation with real estate experts: The best way to find a cheap house in Istanbul is to consult with reliable and trusted real estate experts. They can guide you and introduce you to properties with reasonable prices.
• Using real estate websites: Famous real estate websites in Istanbul can be good sources for searching for cheap houses. You can set search filters based on price and find homes that fit your budget.
• Choosing less popular areas: Some areas in Istanbul have high demand and higher prices due to their geographical location. By searching in less-known areas, you may be able to find properties at lower prices.
• Price negotiation: To buy property in Istanbul, it is usually possible to negotiate the price of the property. After finding the house you want, try to negotiate the price to minimize the final price.
• External sources of money: If your budget is limited, you may need external sources of money. These resources can include loans or cooperation with other persons (such as housemates). By using these side financing sources, you can find a cheaper house.

If you have decided to buy property in Istanbul, you can try your luck to immigrate to a beautiful and advanced country by getting advice from Hausbiz experts and find the right property that matches your budget and taste easily.