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Everything about buying a property in Turkey:
Why purchase a property in Turkey?
Istanbul, Turkey, should be considered one of the most beautiful cities in the world, where it has a very deep-rooted and long history of several different communities. It has been able to accommodate 72 nations to live side by side, which has not been seen in many metropolises.
In recent years, the fifth largest city of the world has been persuaded a large number of investors from all corners of the world and become a model for other big cities due to its huge economic growth.
As the third tourist city of the world, Istanbul has always attracted many tourists who, after being in this extraordinary area with indescribable beauty, wish to invest and purchase property in it, according to the official reports. Relying on such robust statistics and the evidence, it has taken an increasing trend and it is expected to be continue.
In the past years, the real estate market has seen a great growth in in Istanbul, Turkey, particularly the foreign investors. In the last five years since 2016, foreign investors have been able to achieve the first place in the real estate market of Istanbul, according to the official authorities of Turkey and international statistical channels. A record which is repeated every month and has surprised many in Istanbul.
With a very different approach compared to other countries in the field of real estate sales, Istanbul has succeeded in in many areas, which is beyond our discussion.
Considering the significantly reasonable price of residential properties, which matches with any budget in any part of this 200 km metropolis, Istanbul should enjoy a competitive advantage to attract people for purchase of a property in Istanbul.
In recent years with the economic growth of Turkey, the government has implemented many cultural plans to help its citizens aimed at better interaction with and attraction of foreigners. It is created a fertile ground for attraction of more foreign investment in the real estate market with increasing foreign customer satisfaction and word of mouth.
Another significant advantage, which may be noteworthy about purchase of property in Istanbul, is the strategic location of this beautiful city between the two continents of Asia and Europe. This city has attracted the attention of many investors with a long successful history of foreign investment.
The businessmen who have been interacting and conducting business between these continents, will certainly enjoy such advantageous, strategic place to facilitate their far-reaching affairs and improve the available conditions for business. This has encouraged them to purchase property in Istanbul, Turkey.
Istanbul’s new airport should undoubtedly be considered one of the most important factors for the growth of real estate market in Istanbul, which has managed to be at the top of the list of the busiest airports in Europe with a stunning record. Because at any hour of the day and night and according to the active diplomacy of the Turkish government in connection with various European and American countries, any traveler will be able to fly to their respective countries in the shortest possible time.
One of the most important factors that has encouraged Foreign investors to purchase property in Turkey, particularly Istanbul, is the close proximity of this European metropolis and Tehran, the capital of Iran. This becomes more obvious considering the large number of flights between these two cities per day, which in turn facilitates the access and many other amenities for citizens applying to purchase property in Istanbul.
It makes it very easy and simple because with any budget, at any time of the day and night, in the shortest possible time, you can reach the city of Istanbul, Turkey.
Considering the special circumstance which our country has been experiencing in recent years, along with extensive sanctions, as well as the huge inflation particularly in the field of real estate in Iran, it is always difficult to purchase a property for low budgets, and sometime impossible in Iran. However, reasonable price of real estate in Istanbul has provided for many Foreign investors to be able to purchase their dream apartments even with very low budgets in this city. This has also been accessible even for the lower decile of the society, according to the relevant statistics.
However, the buyers and applicants to purchase property in Istanbul have been faced with countless questions. How to realize their dream and purchase a suitable property in Istanbul, Turkey, and in fairness, all their concerns are very appropriate and completely justified. We have formed a cohesive, expert, experienced team in Istanbul, Turkey to welcome you, so that you can purchase your desired property with ease.
Our group, during its years of research and analysis about construction projects in Istanbul, Turkey, has been able to prepare and set up the largest online portal for real estate purchase in Istanbul in Persian language with full descriptions for citizens, where you can find all the top construction projects in Istanbul, evaluate the areas and ask for advice from our experts.
When is the best time to purchase property in Turkey?
In recent years, Turkey has attracted the attention of Foreign investors and other communities for buying houses and investing, to the point where, based on various statistical sources from reputable Turkish government sites and offices, Foreign investors have been ranked first in recent years. They have purchased property in this beautiful country and have registered a new record of investment.
It is interesting to note that apart from Foreign citizens and Turkey’s neighboring countries, from wealthy European countries such as Germany and Russia, and other communities from well-known countries in the world, they have chosen this Eurasian country for living and investing. This is certainly unique in its kind, and significant.
There are many reasons that have provided for such significant foreign investment in this country, which we will briefly mention as follows:
Life in Turkey is cheaper and more convenient than other European countries based on the facilities it offers to its people, and the per capita expenses of a property hold in Turkey are definitely lower than a country like Germany. It should be noted that many European and Asian countries suffer the high cost of housing, while in Turkey this issue is controlled in a way and the per capita housing price is much lower in both the rental and purchase sectors.
On the other hand, in the past years, Istanbul has become one of the most popular tourist cities in the world, with its natural and economic beauty. It has been able to provide many significant reasons for attracting foreign visitors, while a population of over 30 million of tourists visit it from different countries of the world per year. This provides for a spectacular economic turnover, which is unique in its own.
With easy access to two continents, Istanbul enjoys a competitive advantage, which attracts anyone intends to invest and live. Additionally, the world’s top construction companies have entered in the real estate market of Turkey in the past years, providing for the economic growth of Istanbul. This in turn led to construction of luxury and significant residential complexes in this city, which has been successful in attracting foreign investment.
Considering above-mentioned as robust reasons for investing and buying a property in Istanbul, Turkey, we are always faced with the question of when is the best time to purchase a property and invest in this beautiful city. We will discuss it below.
The factors that make it a good time to purchase a property or invest in a metropolis like Istanbul include:
1_ Quarterly review of the best time for real estate purchase
2_ Social and political factors
3_Paying attention to the exchange rates for Turkish Lira against other foreign currencies
4_Investigating the performance of construction companies in Istanbul
Property Purchase in Istanbul
1_ Quarterly review of the best time for real estate purchase
Best time to purchase is one of the most important factors that investors and applicants for property purchase anywhere in the world always pay attention to and are mindful for a safe purchase. To purchase a property in a country like Turkey, one should consider the best time for purchase. With a good time management, and timely taking advantage of current situation, you will certainly enjoy this profitable market.
Considering the touristic structure of the whole country of Turkey, of which Istanbul is considered the main pole, the construction developers, both residential and commercial, always try to manage their construction program and projects in such a way that they complete the project in March. A month when many developers prepare for the introduction and wide sale of the projects. Therefore, the top holdings will complete their residential projects in the winter and cold season with a large number of people and on a full-time basis, until they start in the spring season for marketing and extensive sales of their apartments.
So, as above-mentioned, in the spring season or the days of Iranian Nowruz, you should closely observe the projects in which the construction affairs are close to the completion or are being complete. In this way, you will be among the first who apply for purchase of a property in your desired project. Of course, the main difference between those who set their schedule this time of the year and other buyers who visit these residential projects in the summer is the price difference, which they take full advantage of.
Because in the summer season, when a large number of home buyers come to Istanbul, the price will definitely increase by several percent compared to the cold season of the year and the spring days.
According to our years of experience in buying and selling property in Istanbul, we suggest you to purchase a property in Istanbul in the winter season and before the completion of the projects that will be completed in March and April, and take full advantage of such difference in prices during these three golden months for completion of the residential projects.
The points that we mentioned so far in the field of time management for buying a property in Istanbul were mostly in the section of houses under construction and renovated apartments that will be put on the market in the future. In the section of second-hand houses and projects in which the construction work has been completed in the past years, we will also mention a few things for those who are thinking about the right timing to purchase a second-hand house from projects. There is also a time schedule for such purchasers to be considered.
According to our experiences and objective observations during different years, especially in the city of Istanbul, the price of houses both in the purchase and rental sectors increases sharply from May to the end of September. This is due to various reasons such as the warming weather, increase of foreign customers after school closures and other things, which may be very effective in increasing the price of second-hand houses in Turkey.
According to these tips for buying a second-hand house, our suggestion is to purchase a property at a reasonable price based on the customer’s budget in the winter and cold season of the year, which provides for a better price than in the summer. It should be also noted that due to the stagnation of the market and the recession that occurs due to the decrease in the number of applicants for winter season purchases in Istanbul, real estate agencies relatively offer better options for their clients, and therefore, the customer buying a second-hand house is faced with more options for buying a property, opening the more room to choosing the best option.
2_Social and political factors
Among the issues that determine the best and most appropriate time to purchase a property in Istanbul are the social and political factors. Turkey also experiences social and political privileges, which are considered important for the applicant to purchase a property or invest.
Due to the strategic location of Turkey on the world map, this country has always attracted the attention of investors in various economic fields, and the good political relations of this country with its neighbors and other countries of the world have also influenced the social and political prospects of this country.
Therefore, in some cases, it is required to consider the political and social events of the investment destination country, aiming at not to lose this great opportunity and purchase your desired property based the most appropriate strategies and presence in the city of Istanbul.
Among the social and political factors, is the available schedule and accessibility that is granted by the government of Turkey to foreigners to receive a passport and citizenship of this country. At the current time, by investing and buying a property for the amount of 250,000 dollars, you will be able to enjoy the option for citizenship that the Turkish government. This is not always the case, which should be definitely considered under social and political factors affecting a decision to purchase property in Turkey.
3_Paying attention to the exchange rates for Turkish Lire against other foreign currencies
In the discussion of timing and investment for buying a property in Istanbul, we have many things, but one of the things that can be mentioned in the scheduling for buying a property and investing in Turkey is paying attention to the foreign exchange rates and currency value. This should be taken into consideration for the applicant to purchase a property so that one can make the best decision at the right time.
Turkey, like any country, experiences daily changes in the price of its foreign exchange rates, the most important of which is USD/Turkish Lira. The exchange rate is also determined by political and economic issues. considering that the foreign audience intends to purchase and invest in the city of Istanbul, the lira to dollar rate is one of the most important things that should be taken into account for determining the best time to purchase a property. Further, the conversion of dollars to lira and vice versa should be also considered, which can have a significant effect on your profit and loss in the transaction. This fully depends on the time and tact of the buyer for purchase of a property in Turkey.
4_Investigating the performance of construction companies in Istanbul
Considering the long-term activity of our group in the field of real estate in Istanbul and our objective observations during these many years, it is highly important to review performance of the construction projects that are under construction or completed, in addition to the schedule for purchase of a property in the city. For example, you are looking for a three-bedroom house in a specific area and you have already obtained complete information about the area and the neighborhood and the projects that have been built or are under construction, and definitely, the average price of the area. Sometimes a construction project offers attractive prices to receive cash so that it can compete with other neighboring projects at some point of the year. What you do, you can purchase your comfortable property with a very suitable price range by being present at the time of presenting the offers of various projects that usually happen in the cold and winter season. In many cases, by obtaining information, you can create a very suitable schedule for buying a property that makes the best use of an opportunity.
Major Measure to be taken for purchase of a property in Turkey before travel:
1_ Determine the budget for home purchase
2_Determine the needs of the household
3_ Determine the desired neighborhood and area
4_Select the requested property type (resident or normal)
5_ Elect desired options
6_ Obtain the average price of options
7_ Obtain the information and validate the options (deed, certificate of completion, accommodation)
8_Obtain the information about payment and purchase methods for the options
9_Know the best schedule for property purchase
10_The information for post-property purchase affairs
1_ Determine the budget for home purchase
One of the first measures a person or family should take to purchase a property in a city like Istanbul, which is itself a critical issue, is to consider and provide for an appropriate budget according to their needs.
Determining a budget is a topic that should be taken into consideration and makes it up to other important issues.
For budgeting, you should pay much attention to the type of family or person needs. The budget should be rationally determined and applicable to the desired work, in many cases observed that the budget has not been determined based on the needs. This has sometimes led to significant costs and losses for the purchase and investment applicant.
2_Determine the needs of the household
After the determining of budget, it is required to identify the needs of a family or person or an investor, which is crucial in its kind.
In this section, we provide information for a buyer that does not have information about a large city of Istanbul and wants to purchase and invest in this beautiful city. No doubt, the first and most key question that any real estate agency will ask from you before the dialogue is about your budget and the needs. Therefore, basic steps should be taken to identify your needs proportional to your budget.
You can easily achieve such information by inquiring the average price in different areas of Istanbul and classifying your needs and budgets.
3_ Determine the desired neighborhood and area
In the previous sections, we mentioned two important things before traveling to Istanbul to purchase or invest. It is required to choose and get information about the neighborhood in which we can purchase property. Considering the vastness of Istanbul and the great dispersion of this metropolis, this is also very important and vital.
Istanbul also has various neighborhoods that determine your accommodation budget. But based on your budget, there will definitely be neighborhoods that will be good for selection, and have many similar characteristics. This is important that get information about them before your visit to Istanbul.
Based on your research method and time you spend before traveling to Istanbul to purchase your desired house, you will get useful information for your stay in Istanbul.
After identifying several areas that are compatible with your budget, it is recommended to select two areas for yourself and conduct more detailed research on them.
4_Select the requested property type (resident or normal)
As we have mentioned in the previous sections, you now determined your budget and needs and chose the desired neighborhood based on the budget. You have succeeded in choosing the area from among the many options, and you should not forget this important step prior to purchase of a property in Istanbul.
Now we have to pay attention to what kind of property in our chosen neighborhood is available for purchase or investment.
There are two types of houses in Istanbul, the first is the normal houses, without facilities such as guards and common areas such as swimming pools and clubs, etc. and the other is relatively modern apartments that are inside residences or residential towns with all facilities available to you.
Of course, the type of your needs and the budget you have considered for purchase or investment and the region will allow you to purchase the house you want inside or outside of these towns.
In this section, the most important factor for you before traveling to Istanbul is to choose and know about the type of property that will help you a lot during your stay in Istanbul.
5_ Elect desired options
As mentioned about the measures before traveling to Istanbul to purchase a property, which we have reviewed them step by step, we have reached here that we have chosen the property of our choice, either a residence or a normal apartment.
If you decide to purchase the desired house in a residence or a town, it is better to choose a few of the towns that are compatible with your price range. This help you and facilitate your quest to purchase or invest into the right property during your stay in Istanbul.
This will save your time between multiple residences in the same area, and in addition, you will be more focused on your options.
For the normal apartment, it is usually not possible to choose and focus on your options before travel because your options are located in different alleys or in different conditions, and it is very difficult to manage the selection process compared to a residence. Therefore, it is recommended to choose such options only when you are in Istanbul.
6_ Obtain the average price of options
After the buyer has reached a consensus regarding the desired residences, by visiting and obtaining information about these residential complexes, you have now obtained sufficient information about their average prices at different levels. Then, you should consider the selected property and facilities, type of structure, common areas, access, location and make your purchase with an open mind when you come to purchase the desired unit.
After choosing a town or a residence or even a normal apartment, it is very important to get information and inquire about the price range of that town and the apartments in different floors and different sizes. This information will make it very easy for you to purchase your desired property.
7_ Obtain the information and validate the options (deed, certificate of completion, accommodation)
Relying on the information on available options, which is balanced both in terms of budget and our needs and in the desired area or the average price, the next step that should be given special attention is to collect necessary information on the quality of the apartments of that residence or the neighborhood where the normal apartment is located. In this section, the information that you should pay attention to is the title deed of the residential unit, whether it is issued for residence units or not, and if it is issued, the apartments in question have accommodation or no accommodation.
Accommodation status in the residential document is very important that is assigned to houses or residences that have been considered as completed by the municipality of their region.
It is required to follow these steps before traveling and to know the types of deed, the rest of the legal matters should be followed when you are in Istanbul.
8_Obtain the information about payment and purchase methods for the options
In the previous sections, we have mentioned important things about obtaining information for buying a property in Istanbul before traveling, each of which complements each other and can make a great purchase for you in the city of Istanbul if fully researched.
You should also consider the payment methods and the financial issues of the apartment you are looking for, which is very important. Due to the difficulty of transferring money from a foreign country to Turkey, you should decide on the best payment for the purchase of your desired house before traveling to Istanbul, Turkey, because not all houses for sale in Istanbul provide the same conditions for payment.
Therefore, before traveling to Istanbul and after choosing the area, neighborhood and residence and receiving information about the average price of that apartment, in the next step, you should definitely get enough information about the type of payment available, to avoid any unwanted problem during the purchase process.
9_Know the best schedule for property purchase
Previously, we have reached a consensus on how to identify the desired property before traveling to Istanbul and what information should be gathered. In addition, it is important to obtain information from the desired project for the schedule of money transfer and receiving the timing for deed transfer. This would be an important issue to be considered for purchase of a property in Istanbul.
After we have been informed how the amount should be paid, you should also obtain information about the time and time of deed transfer that the project or the landlord will determine for you. In some cases the seller does not give you much time to transfer money and transfer deeds due to financial needs, and if you don’t pay attention to this issue, you will face a lot of problems in the future.
10_The information for post-property purchase affairs
One of the pre-travel information for applicants who are thinking of investing and buying property is how to rent the purchased item after transferring the deed and benefit from it.
According to the current laws of Turkey, there is no restrictions on renting your purchased property and you can easily rent your house and benefit from it.
One thing that you should pay attention to before traveling to Istanbul is the amount of rent received for the desired house. You should do research about it before coming to Istanbul in order to purchase the property with sufficient information and its economic feasibility.
Measures to be taken for purchase of a property while being in Turkey
1_ Temporary accommodation in the desired area for purchase
2_ Analysis of the information obtained before the trip
3_Choosing the desired real estate consultants
4_ Visiting desired residential projects
5_Research about the location of the project and getting to know the area
6_ Comparing the statistics and timing before the trip
7_ Considering another alternative for the chosen project
8_Final decision and action to purchase the property
9_Receive tax code
10_Opening a bank account
1_ Temporary accommodation in the desired area for purchase
The vastness of the city of Istanbul has turned this beautiful city into the fifth largest and most crowded city in the world. This metropolis contains a large number of neighborhoods and regions, which, if you do not know the layout and how to locate them, you will certainly face with a lot of problems, such as heavy traffic and time shortage during your stay in the city of Istanbul. In this article we will provide general guidelines to remove these obstacles.
When you are in Istanbul, pay attention to the fact that, based on the budget and the type of neighborhood that you have concluded before your trip, you should book a hotel or apartment or any other place as a temporary stay. Focus more on the suburbs and the desired area to purchase your desired property.
If you do not pay attention to this issue or if you book a hotel in a place or a neighborhood far from where you intend to purchase a property, you will not have enough focus to check the area and you will spend most of your time in Istanbul traffic.
So, take the first step when you are in Istanbul by choosing the right and reasonable place for your temporary accommodation.
2_ Analysis of the information obtained before the trip
Based on comprehensive guidelines and explanations about what to do before traveling to Istanbul, now you have enough information during your stay in Istanbul and before visiting the properties you want. Get it and move to purchase or invest with an open mind.
After temporary accommodation and being in Istanbul, take a look at the area you are in, the social behavior of people, street layout, sidewalks, etc. Have and edit the strengths and weaknesses in your mind. It is very important to compare the conclusion you reach before your trip and after your stay in Istanbul and it will help you when buying a property in Istanbul.
3- Choosing the desired real estate consultants
In the previous sections, we have discussed the things that you should pay attention to during your stay in Istanbul, the place of temporary accommodation, as well as how to analyze the information before the trip and after your stay in the city of Istanbul.
Now it’s time to choose real estate consultants with whom you should go to visit construction projects and properties.
There are many important points that should be considered for choosing real estate consultants, and we will discuss the most important ones as follows.
One of the first points in choosing real estate agency and consultants, you should always pay attention to the fact that they are considered as a reliable company with legal licenses; so definitely from this point that the consultant will be able to assess whether your property has a legal license through the official authorities of Turkey.
In the second step, check the amount of information you receive from your real estate agent in the area of target real estate in which you intend to purchase a property. Many times, your advisors do not have enough information to guide you in a specific area, and they only guide you theoretically, which is not enough at all.
After obtaining information and consensus about the desired real estate consultants, choose the times to visit the target properties in selected locations with your budget and prepare for the visit.
4_ Visiting desired residential projects
If you have read our articles, we have mentioned what you should do before traveling to Istanbul in a complete and detailed manner. Now, we have come to the conclusion that during your stay in Istanbul, you have already determined the desired place to purchase your property and its area.
Now, after choosing the real estate consultants and getting an appointment for your target residential projects, it is time to visit these residential complexes in person.
You can, based on your needs, visit the property on different days with different real estate consultants, without any restrictions, as many times as you like, based on the region and selected residential or commercial projects, so that you can visit the suitable ones with your budget. At end, you can finally make the best decision.
The most important things to pay attention to when visiting a residential project are the type of structure of that project, the facilities inside the project, the company that built the project, the current brand of the project, the location and connection with the public transportation means, information about the charging of different units, residential building, the number of units built in it, the age of the building, the number of floors and other things that you must get complete information about when visiting. In this regard, you can easily ask your questions from the real estate consultant who accompanies you.
5_ Research about the location of the project and getting to know the area
After visiting the project and checking its facilities, we can decide on what questions should be answered about the desired residence, which we mentioned in the previous section.
Now it’s time to get comprehensive and complete information about the location of this project or residence in general.
In the city of Istanbul, there are different areas that are identified by name; unlike the areas of Tehran, which are separated by numbers, in Istanbul, different areas are distinguished by name. Each region has its own separate neighborhoods, which are similar as districts in Tehran.
At first, you should know which neighborhood this project is located in and how far it is from the center of that area. Is the neighborhood in which your project is located in a favorable location in terms of public facilities or not?
In the vicinity of your desired project, have other reputable brands started construction or not?
Do you think the neighborhood where the project is located has a good regional style or not?
Does your field observation give you a good feeling about that area or neighborhood or not?
How far is the project from the public hospital, school, day market, government places?
Research the neighborhood where your project is located, whether the area is well-known among other neighborhoods or not.
Your own field research has always been better than the help of other people because some people may introduce you to unpleasant areas for their own interests, so spend a lot of time during field research and know the good and bad of the neighborhood where the project is located in.
6_ Comparing the statistics and timing before the trip
In the previous sections and in another article, we discussed what you should do before traveling to Istanbul. After gathering enough information, before you finalize your purchase, it is better to carefully check and compare all the information that you got before traveling to Istanbul to purchase a property with the information that you collected during your stay and then make a decision.
If there are significant differences comparing your impressions before and after the trip, wait a little and gather more information in person during your stay in Istanbul and then proceed to purchase the property you want.
The more complete the information about the property purchase and the neighborhood and area in which you intend to purchase a property, the more you will be able to purchase with peace of mind.
Always pay attention to the fact that after buying your house, you will be left with a property deed that is not easily terminated, so if you make a wrong decision, you will pay for it in the future.
7_ Considering another alternative for the chosen project
Since your visit to the city of Istanbul to purchase a property, we have reviewed many things that should be taken into account and we have given comprehensive and complete explanations in each category so that you can use them, along with our long standing experiences we have gained over several years to find the best option to purchase a property in Istanbul.
After completing the information about each project and place and region and the comparisons you have made, do not limit yourself to a residential project and analyze other items that are at the level of your chosen project in the same area, maybe near the chosen option. Finally, there should be other cases that are close to your taste and budget, so visit the residential complexes that are located in the neighborhood of your choice or a little further away and check all aspects in all the residential or commercial projects in the area that you intend to visit. Find out more where you are buying a property.
These comparisons provide you with more information for the final choice and the purchase that you wish to make in the best possible state. The best purchase is made when it is made with enough and necessary information about the existing conditions, so do not neglect to visit other projects close to your budget.
8_ Final decision and action to purchase the property
If you take a look at the things that we mentioned before traveling to Istanbul and the things that we raised during your stay in Istanbul and follow all the guidelines in a principled way, you smoothly reach at the end of this scenario. You can make a far more correct and logical decision, and benefit from its financial returns in the future.
After going through the steps mentioned above, you can easily make your choice and complete your purchase.
The most important issue in the discussion of buying a property in Istanbul is extensive research with an open mind.
Of course, it is worth noting that as much as the research about the choice is very important and vital, if you experience sprawl in a metropolis like Istanbul, which is two hundred kilometers long, and you cannot overcome the obstacles to decide correctly, you may not be able to purchase the house you want for years. And during many trips, you will be required to pay expenses that are not economically justified.
If you have a little patience and follow the steps carefully, you can purchase a property worthy of you and your family in a reasonable period of time.
9_Receive tax code
The tax code or the same representation of the tax offices is undoubtedly one of the most important and basic evidence that an immigrant needs to obtain in Istanbul.
This very important code, which is often requested even in the early days of immigration, is something like a national code or an identification code for a person to enter different systems in different offices.
Tax code in many government agencies or even any affairs related to the private sector is asked before any formalities at any relevant departments.
When to obtain a tax code? When the tax code is requested?
This very important code, which is also a kind of identification number for a natural entity, in many important departments such as the Documentation and Real Estate Office, the Immigration Office, SIM card offices, public and private banks, water and electricity and gas departments, or otherwise, might be requested.
To open a bank account, the first thing to be requested from a foreigner is his or her tax code, which must be submitted to the bank in order to open the bank account in addition to other documents.
This code is also a significant requirement for payment of relevant fees of immigration. Without this tax code, the applicant is virtually unable to pay the immigration fees, evidence which will be obtained for immigration application.
In Turkey, in general, the identity of individuals is determined by the 4 codes, which are the tax code and the national code belonging to the person in question.
Any monetary transfer in any bank or registration of business within Turkey or other economic and commercial activities or any transfer of money in tax offices in the whole Turkish cities require a tax code.
Many economic players and businessmen will use this code to register their company and receive their company documents and the opening of bank accounts within the Turkish territory.
How to get a tax code in Turkey?
Receiving a tax code is not a very difficult and complicated process. It can be received in two forms from the tax office.
1- In-person referral to the tax office
2-Receive tax code online
With first approach, you should refer to the nearest tax office of your residence in Turkey and submit your request to the employee from the customer service section of that office.
After the COVID-19 pandemic in Turkey and the integrated management of the disease, only those who that have received an appointment online before this office can refer those in person to the tax office to receive a tax code; otherwise, the tax office will not provide any services to them.
The tax code has 4 digits that are compatible with the applicant’s documents and belong to different individuals as an identity code, the most important of which is the address and location of the applicant at the time of obtaining this code.
As above-mentioned, you can easily apply for and obtain a tax code through the Turkish Tax Office’s official website after COVID-19 pandemic without in-person referral.
For this, please refer to:
https://ivd.gib.gov.tr/tvd_side/main.jsp?token=d1078f5e3dc646b78d5d4e5842f21e97feb48d366bc7617458b6679dec12675154a01fccc42292bb04d926bc259dbc75e39dd8e202535fd70a7098396c74a6f7&gn=vkndogrulamalar
Fill in the form and enter all the information correctly and finally receive your tax code sent to you as PDF. It is much easier to apply for and receive a tax code online. If you do not have enough mastery in Turkish language, do not worry. The website also provides an English version.
How to Get Tax Code in Turkey? Required Documents to Get Tax Code
If you have not been able to get a virtual tax code for any reason, you can go to your residence tax office with the following documents.
- Passport
- Completed information form
- Documents related to address and accommodation
For the tax code, it should be noted that you have to get this important code once and you do not need to apply and register multiple codes from different tax offices.
Tax code can be obtained from different departments in different cities and are registered in a comprehensive system. For transfer of accommodation, you will not need to get another code from another city and will only do one tax code.
Of course, by visiting the new tax office, change the address and update it within the destination city tax system.
Tax code to purchase a property
This code is very important for the applicants for the purchase of property in Turkey and it is in the category of documents without which the transfer of the title deed will not be conducted at all.
Applicants for buying a property in Turkey or real estate consultants who help them in the process of transferring the document always refer to this important code and receive it before referring for registration and transfer.
Tax code to obtain a Turkish residence
Tax code is also very important for obtaining Turkish residence; otherwise, you will not be able to pay any immigration fees or for a residence card.
Tax code for opening bank account
Tax code is a prerequisite for opening bank account
One of the most important things for the opening of a bank account that you will be requested upon attending the bank is a tax code for the opening of a bank account without which the bank account will not be opened for you.
The bank also prevents use of tax codes without any registered address, and will not open account based such tax code.
10_Opening a bank account
Istanbul has always been the focus of foreign businessmen and foreign companies, due to its special economic situation and being the economic heart of Turkey, who have been referring to this beautiful metropolis for commercial and economic affairs. Certainly, having a bank account to conduct banking affairs is one of the main priorities of any person or company that intends to do business or any other activity in the city.
Many banks are working in Turkey, which are serving in different categories. Many foreign banks have also opened a branch in the city due to the good economic and tourist conditions of Istanbul.
But how to a bank account in these different banks of Istanbul? Is it necessary to do something special to open a bank account?
How to open a bank account in Istanbul
What are the documents required to open a bank account in Istanbul?
In general, the rules of opening bank account in different cities and branches are different and place-specific. It is usually much easier to open a bank account in cities other than Istanbul. But in all cities, in general, the Ziraat Bank and İşbank are allowed to open an account for foreign investors, and other Istanbul banks usually may not open a bank account.
But what do you need to do to open the bank account in Istanbul by the Ziraat Bank and İşbank .
The various branches of these two banks are located throughout the city of Istanbul in different neighborhoods that you can easily open an account. Of these two banks, the Ziraat Bank usually has better conditions for opening an account. Usually, the bank acts very arbitrary and usually refuses to open a bank account for foreign investors. The Ziraat Bank also acts the same in order to open a bank account requiring a non-residence property document or lease contract, and sometimes it is mandatory to have a residence permit. When opening a bank account, passport and photo and, if necessary, a residence card is required.
The Ziraat Bank will submit your access card at the same time if you open the bank account, but the İşbank will send your access card to your address within 10 days.
When opening an account, you should be sure what your account has and what the currency account model is opened for you. Because you can withdraw the euro and the dollar with the ATM. You can also move different currencies to different accounts with banking software provided that the account opened for you was a currency account, not only the Turkish lira account. This is one of the most important points to be considered when opening a bank account.
Getting to know the types of real estate documents in Turkey
How to check the accuracy and authenticity of the documents:
1- Introduction to the house deed in Turkey
2- There are several types of house deeds in Turkey
3- What is a certificate of completion?
4- Checking the location of the house with the information inside the deed
5- Inquiring about the deed by referring to the Tapu office
6- Getting to know the wording included in Tapu
1_ Introduction to the house deed in Turkey
As mentioned in the previous sections of buying a property in Istanbul, now we reached to the point how to visit the file and the house you want and reach a conclusion and evaluation about your desired house. We will discuss this in details as follows:
Now, this very important question may be raised for people buying a property in the city of Istanbul, how can one understand the accuracy and authenticity of a property ownership documentation, which is also a very important and key question.
In this section, we will fully explain the important things for buying a property in Istanbul, how to find out about the accuracy and authenticity of the selected file, and we will inform you about all the issues.
The most important and main thing when checking your chosen file is to have a document that is considered the identification certificate of the desired property, including any relevant information of the property.
You can get all the information you want in different fields by means of the house deed, and you can inquire about the accuracy of the information of a residential unit in different ways.
The most important information that is used in the real estate document, which must be mentioned in the first stage, is having accommodation for a residential house, which is known as kat mülkiyeti in the old documents, and in the new documents, it is called tasinmaz tipi. It is mentioned in the box below it is written kat mülkiyeti, which is considered very important and vital for the home buyer and should be paid attention to in the first stage of buying a property in Turkey
This word is used to refer to a property that has a certificate of completion and does not cause any legal problems in terms of accommodation. Sometimes houses have been built in residential settlements that do not have the certificate of completion duly issued by the municipality of the region. These types of residential houses are designated as kat irtifakı in the deed, which are usually bought and sold at a lower price in the market. These types of cases may be changed to kat mülkiyeti in the future through the residential settlement or when the desired requirements of the municipality are completed.
An important point that should be mentioned in the discussion of residential houses is that in some cases, a property certificate was issued for it during the construction of the project, which was certainly given kat irtifakı at that time due to the construction work and the non-completion of the project, but at the end of the project, the documents of that collection have been changed to kat mülkiyeti, in which case you can see the word “accommodation” by referring to the ekspertize raporu report, which is required to be obtained before transferring the document.
Our advice to you in this regard is to purchase a property that has accommodation and the word kat mülkiyeti is mentioned in the deed.
In addition to the two types of documents that we have mentioned, there is another term in the residential deed, devre, meaning only the owner has right to the property for a short-term in a year (subdivision).
2_ How many types of house documents are there in Turkey?
As in the previous section, we have discussed fully about the property deed in Turkey, we have come to the conclusion that the property deed is actually a written and official document registered by the registry office and the issued and owned properties that are on land or part of it, showing that the land has been built and is considered valid in legal contexts until proven otherwise.
In general, in Turkey, two models of documents in two colors are issued and used by people from the past until now, we will deal with both of them separately and we will discuss the important issues in them.
Note that both of them are the same in terms of design and content, but they are different from each other in terms of quality.
1_ What is the blue document?
The blue ownership document symbolizes that you are the owner of the land, but there is no building on it yet, or the construction of the building has just started. Lands with a blue title deed indicate that the property has not yet been acquired.
2_ What is the red document?
The red title document indicates that after the completion and construction of the property, there are approved independent sections in the project, property use areas and special shares. Translated in this way, the right of ownership of the standing (residential unit of this building) is assigned, or kat mülkiyeti.
3- What is a certificate of completion?
One of the most important factors that must be assigned to a residential building in order for the document of that residential unit to have the word kat mülkiyeti is to receive a certificate of completion through the municipality of the area in question and the construction of the project, which shows that the building has been completed in accordance with the relevant laws and regulations.
The building completion certificate must be completed in accordance with the project in order to obtain the settlement certificate without any problems. In the case of buildings that are different from the project drawing or incompletely completed, they are not allowed to be acquired.
For certificate of completion, it should be noted that if the building is not accordance with the construction project, a fine may be considered for the owner of the building or the decision to demolish the building may be made.
4_ Checking the location of the house with the information inside the document
In many cases, it has been observed that foreigners who come to purchase a property raise the question of how to inquire about the location of the house with the relevant document. In this section, we will answer this very important question.
In all the issued documents, there are two parts called DAD and PARSEL, by means of which you can reach the location of the desired house in the municipality’s registered map. You can easily enter the paraselsorgv.tkgm.gov.tr site through these two parts through Google search. Enter the information and specifications of the address of the document and the code numbers as DAD and PARSL from the left menu so that the specifications of the house you want will be shown in full on the municipality registration map.
Through this method, you can obtain complete information about the placement and accuracy of the location of the unit you purchased and compare the information with what is in the document.
5_Inquiring a document by referring to the Tapu office
In the aforementioned cases, we mentioned the steps to confirm and inquire about the document of the desired house for purchase, and we explained that the types of residential documents in Turkey are divided into several parts, and we have explained each of them in details.
But if for any reason you are not able to inquire about the deed of your desired house using the above methods, you can get a copy of the deed of the house from the real estate consultant and refer to the deed office or the Tapu of the desired area and proceed to inquire and ask your questions in full.
In many offices, there is a Tapu or document section for customers to refer to and to answer citizens’ questions, which are answered during office hours. You can ask the curators of this section your questions, such as having a debt or whether the document of the house you want has accommodation or not, or inquire about its address and location, and carry out the next steps to transfer the document safely and easily.
6-12 properties of Turkish real estate documents
Real estate deed (tapu) in Turkey includes full details of the owner, property value and other details. Now we will examine these here.
Photo of the owner or the owner of the document
Detailed description of the purchased property
İIİ: Province
İlçesi: City
Mahallesi: Neighborhood
Köyü: Village
Sokağı: street or boulevard
Mevkii: property status
Yuzolcumu: the total area of the land (the sum of the three numbers recorded in this section determines the total size of the area)
NİTELİĞİ: the type of real estate (application) and properties of the property
Contains the number of the plan and parcel, which are respectively:
Pafta No: Sheet number
Ada No: Block number
Parcel No: Parcel number
Sınırı: boundaries and areas around the property
Type of property ownership and use
Kat Mülkiyeti: Kat Mülkiyeti ownership document represents the individual’s right to own land and all residential properties.
Kat İrtifaki: Kat İrtifaki title deed represents a person’s right to own land and all residential units under construction that the municipality has not yet issued a completion permit for.
Devre Mulk: Tenure time means that the buyer owns the land until a certain date that must be stated in the document.
Satış Bedelı: The actual value or price of the purchased property
Niteliği: Ownership Type and Property Licensing Features
Arsa Payı: Land share
Blok No: building number
Kat No: floor number
Bağımsız Blm No: Unit number
Edınme Sebebi: Full details of the property, including the name of the previous owner, reason for sale or transfer, and how the property was transferred
Sahibi: Information about the current owner or owners of the property (it is possible that more than one person owns the property and each of them has a certain share in that property)
Geldisi: document transfer specifications
Yevmiye / Cilt / Sahıte: Property numbers in the register
Tarıhı: date of transfer and registration of the document
The date, signature and seal of approval of the document registration by the head of the Tapu office, local organizations or offices and responsible persons
How to transfer a property title deed in Turkey
How to transfer a property title deed in Turkey
1_Performing the necessary formalities before the transfer of the property title deed
2_Affairs that should be conducted at the date of transfer
1_Performing the necessary formalities before the transfer of the property title deed
- Meeting of buyer and seller
- Drafting a purchase agreement for the target property
- An introduction to the duties and responsibilities of a real estate agent in transferring the title deed
- Documents required for the date of title deed transfer
- Management of the financial plan for the date of title deed transfer
- Information about the date of title deed transfer
1_ Meeting of buyer and seller
As noted in previous sections for choosing the target property in Turkey, and how to inquire about the property, now it is time to seriously enter the phase of buying the target property as we will discuss below. Here we mention the common legal and customary methods to purchase a property in a step-wise and complete manner.
Upon the election of the desired apartment or property, the real estate agency will invite you as the buyer and the seller to hold a meeting to decide on the final price, how to transfer the title deed, and payment method. During this meeting, you will meet with the seller of the property, where you will jointly discuss and agree on issues such as the date of the title deed transfer, the final price of the object of sales, the payment methods and how to transfer the sale price to the account held by the seller. Any such agreements will be stipulated in the bill of sales or sozleşme.
2_Drafting a purchase agreement for the target property
As we mentioned in the previous section, after the meeting between the buyer and the seller and the agreements that are made regarding the transfer of the title deed, along with any other mutual agreements, the agreement provisions will be legally drafted in written in form of a bill of sales at the office of real state agency.
In this agreement (aka sozleşme in Turkish), important issues will be stipulated which will be discussed below.
At the beginning of this contract, the particulars of the buyer and the seller will be mentioned along with the national ID. No. (aka Kemlik in Turkish), or passport number for foreign nationals and their residence address. Further, the address of the property under sales will also be stipulated in the preface of the contract as the property to be sold. In the next step, the real estate agency will draft the contract by entering the property code, identifier and name, and the agreed details will be mentioned clause by clause. One of the most important points in the contract, which is usually included in the first paragraph, is the agreed amount for the purchase of the property. This should be included both in numerical and written forms. The next important thing that should be mentioned is the advance payment, which is called KAPORA in Turkish. This will be included in the contract as paid by the buyer to the seller at the time of conclusion.
In addition, it will be definitely stipulated the commission paid to the real estate agency. In this case, both sides may be charged from 2% plus 18% tax based on the government’s legal tariff in 2021, which is included in the bill of sales. It will be paid to the real estate agency on the last day after the transfer of the title deed.
Among other things that will be mentioned in the contract, if any of the parties involved in the transaction withdraw from the transaction, they will be required to pay a 4% commission along with taxes to the real estate . This will be officially prosecuted by the law. Therefore, if you are not sure about making a deal or if you need more time to choose your target property, avoid signing the contract and do not enter into a serious deal because it will have consequences for you.
Another important thing that can be mentioned in the contract, and is very important for foreign investors, is to set the date for the transfer of the title deed. This should undoubtedly be stipulated in the contract. Upon the agreement, you are obliged to attend the Tapu office to transfer the title deed at the specified date and transfer the money to the seller’s account. Naturally, if you do not attend on the specified date, you will be required to indemnify any loss/damage suffered by the parties. Considering the circumstances governing the money transfer from foreign country to Turkey, be very careful about the time and date of the transfer of the title deed so as not to suffer.
Some important points regarding the property bill of sales
1- When drawing up the contract and before signing it, check the contract completely. If you do not have sufficient command of Turkish language, get the help of a certified translator and avoid signing it until you are informed of all the provisions of the contract.
2- According to the existing tariffs and market customs, do not pay more than ten to fifteen percent of the advance payment, and for the advance payment, in addition to including in the contract, request a receipt from the real estate agency.
3- Pay close attention to the transfer date of the title deed and check it before signing and if you need more time to transfer, ask the seller.
3_An introduction to the duties and responsibilities of a real estate agent in transferring the title deed
Definitely, if the agent that you have chosen to purchase your target property using their services has been trained in professional principles, they will smoothly provide for transfer of the title deed without any complications.
In this section, we intend to fully discuss the duties and responsibilities of the real estate agency in transfer of a title deed aimed at increasing your knowledge and caution in this regard.
After your desired real estate agency has held the related meeting with both buyer and seller parties at its registered office, and prepared and drafted the bill of sales based on the mutual agreements, the real estate agency should perform the duties as stipulated by the law in a duly and good manner.
After registering the bill of sales in which the transfer date of the title deed has been agreed upon, the real estate agency should request an appointment from the Tapu Office. Note that Tapu Office works under the supervision of the regional governor. This is to transfer the title deed and complete other matters until the date of RANDEVU.
After receiving an appointment from the governor to transfer the deed, the real estate agency is required to receive a certificate confirming the authenticity of the property or the EXPER report for foreigners, without which the deed will not be transferred for foreigners. This is one of the documents that should be submitted at Tapu Office.
For this report, it should be noted that the cost of this certificate, usually around 1,500 to 2,500 liras, must be paid by the buyer.
After preparing the EXPER report, which takes about three to five days, the real estate agency should collect the personal documents of the parties, including passports, translations of national Id. cards, translations of notarized birth certificates, and personal documents of the buyer, and deliver them for the purpose of title deed transfer.
4_Documents required for the date of title deed transfer
In order to transfer the title deed at the specified date, it is required to provide necessary documents; otherwise, the procedure will face interruption at the Tapu Office and it will be postponed to another time with a new appointment.
In this section, we will discuss documents that you must have with you when you attend Tapu Office.
1_ Personal photo of seller and buyer
2_ Housing insurance policy against earthquakes (DASK)
3_ Municipal certificate of completion
4_Certificate of the real value of the property from the municipality
5_In case of lack of proficiency in Turkish, a certified translator to the judiciary
6_ Inquiry report about settlement of tax debts
7_Applicant’s tax code
8_ Original passport and notarized translation of passport and national Id. card
What is the property expert report (aka Ekspertiz Raporu) in Turkey?
According to the legal decree of the government, for foreign buyers who intend to purchase property in Turkey, a general report of the purchased property is required, which is called expert report, or “Ekspertiz Raporu”). In this report, which includes the general information of the target property, important information such as the condition of the property, accommodation and all other information related to the purchase of the property is included.
In this report, which is issued by the private sector approved by the government, all the details of the property are recorded and the regional price of the property along with the exact area is recorded and presented to the government.
In Turkey, due to paying high taxes, many buyers do not report the real value of the property to the government; for example, if a property is worth 400,000 liras, they register its expert report for 300,000 liras.
This is due to the tax evasion of the property owners to pay a lower amount as tax.
The expert report is important and vital for those who are looking to obtain a passport and citizenship by purchasing a property in Turkey, because the government considers the price included in this certificate to obtain a passport, which should be higher than $250,000.
But if you are not looking to obtain Turkish citizenship and passport and the property you are buying is worth less than $250,000, the property report is not particularly important because the value of the property is not a criterion for obtaining a Turkish residence card.
5_Management of the financial plan for the date of title deed transfer
One of the most important factors that you should pay special attention to before transfer of the title deed is to duly managing your financial resources to pay the required amount to the landlord at the specified date. As we mentioned in the previous sections, the transfer of money from foreign country to Turkey usually has its own difficulties, and in the case of a detailed schedule, it might also face problems that must be paid special attention to in advance.
Based on our objective observations over many years, it seems that many people have not been able to transfer the desired amount to Turkey on a timely manner and as a result, transfer and register the title deed at date of RANDEVU. This has led to payment of damage and cancellation of the transaction by the seller; therefore, scheduling the transfer of money to Turkey in advance for the purpose of the transfer of the title deed is inevitable.
6_Information about the date of title deed transfer
Considering the fact that the majority of our audience consists of foreign investors who are willing to purchase a property in Istanbul, the points we put forward based on the experiences we have already gained are very important and worth noting as to reduce any probable loss in purchase of a property in Turkey.
It is important to carefully consider the date of transfer of the title deed because if you are not present on the appointed day, it will invalidate the contract and your transaction with the buyer will be automatically canceled. In this case, you will be required to pay losses to the parties of the contract. In many cases, foreign investors mistakenly assume the date of attendance with the registration date and cause them to lose time.
2_Affairs that should be conducted at the date of transfer
1_ Payment of the title deed transfer fee
2_Presence at the desired Tapu office
3_ Transfer of transaction price
4_ Conclusion and Signatures
5_Delivery of the object of transaction to the buyer
1_ Payment of the title deed transfer fee
In this section, we will specifically discuss the expenses incurred for buying a property and any fees that should be paid to the government and the Tapu Office, and in the next parts, we will mention the total expenses that a property purchase will entail for you.
Regarding the cost of transferring the deed in Turkey, it should be noted that since the beginning of 2020, in transactions related to buying and selling, 4% of the total cost related to the deed shall be calculated and included in the contract of sales as fee.
This general cost related to the registration and transfer of the official document of the property in newly built projects will be collected from the parties of the transaction equally, i.e. 2%, by the General Department of Land Registration and Cadastre, which performs the transfer.
In buying second-hand houses, all costs are paid by the buyer according to Turkish customs.
Among other things, on the day of transfer, two amounts of working capital (DONER SERMAYE BEDELI) and sale to non-Turkish (YABANCI YASAK) will be received by the government from the applicant, which should be carefully considered.
2_Presence at the desired Tapu office
As an appointment from the governor and the Tapu office of the desired region is obtained by the real estate agency, the parties to the transaction should attend the governorate of the region along with the documents that we mentioned in the previous part. After paying the Tapu fee, they should attend the relevant governorate and Tapu office aimed at conducting any affairs related to signing and transfer of the title deed.
A point that you should pay attention to in advance, the address of the Tapu offices in different regions is listed on the official websites of the municipalities and governorates of each region, and you could easily find the address to timely attend at the appointed time.
Considering the volume of applicants that may refer to the Tapu offices in each region, the staff of the relevant office will accept you based on the prior appointment only. It is suggested that you arrive at the desired governor’s place a little earlier than the scheduled time.
Note that the date of title deed transfer is very important, and the presence of the parties involved in the transaction is required at the Tapu office. If any of the parties or their lawyers are not present for any reason, the title deed will not be registered and transferred.
3_ Transfer of the transaction price
One of the most important matters that is always discussed on the date of Tapu or title deed transfer is how to transfer the price of the transaction to the other party, which is considered very sensitive and important for foreigners. Let’s draw the other side for you
Usually, in amounts less than one million liras or five hundred thousand liras, foreigners pay the desired amount in cash and in person to the landlord when they are at the Tapu office, and at the same time, signatures are also affixed.
In many areas of Istanbul, private sector companies carry out the matters related to the registration and transfer of the title deed, which have a room for the purpose of money counter aimed at counting and transfer between the parties. Then the parties refer to the desired governor to provide the signature on the relevant documents.
But for higher amounts, especially in the case of figures above 250,000 dollars and obtaining Turkish citizenship, you should transfer your amounts by bank transfer and submit your deposit slips to the relevant departments for obtaining a passport.
In many residential projects that foreigners purchase from, the money is usually transferred to the official account of the seller and the land owner of the complex, which is nothing to worry about, because you already have an agreement or a bill of sales for the property from the complex.
In many cases, the sellers of houses in high-end residences are reputable Turkish banks that have construction holdings to which you have to deposit money, and in these cases, there will be no need to worry.
In general, according to the banking law in Turkey, every transfer from any bank account that is made, its origin and destination must be clearly stated, therefore, in the discussion of transferring house money for purchase to your seller’s account, the contract number and house information You indicate the one you intend to purchase, which will be in your possession as an official document.
4_ Conclusion and Signatures
After completing the formalities discussed in the previous cases, the parties prepare to conclude, sign, and transfer the title deed at the Tapu Office of the desired governorate where the property is located.
It should be noted that if you do not have a sufficient and complete command of the Turkish language, or you are only speaking in a colloquial way and you do not have a good knowledge of Turkish words or phrases, You must have a translator who is proficient in Istanbul Turkish language certified by the Turkish judiciary to translate the document. In many cases, this is in the client’s best interest, so it is suggested that you use an impartial official translator to translate your document when it is transferred and before signing. Use it and register the document and sign it in the governorate with ease.
After the invitation of both the buyer and the seller by the official of the deed document registration office or Tapu Office, the parties refer the place to sign the title deed. The foreign party may refer there with his translator. It registers the signatures of the buyer and seller parties, and the title registration is finished at this moment and the transfer takes place.
According to the online deed registration system in Turkey, the transferred deed with the name of the new buyer and his photo will be registered in a short period of thirty minutes and will be submitted to him or his legal representative or lawyer, and since then, the property is considered as purchased. It is registered in the system with his name and details.
5_Delivery of the object of transaction to the buyer
After finishing the administrative affairs at the Tapu Office and registering the new buyer’s deed with his photo and details, the process at the Tapu Office are completed and the parties should hand over the sold apartment to the new buyer.
At this stage, the new buyer will visit the property with a real estate agency, and if the advertisement banner for the sale of the target property has already been installed, it will be collected and the property will be delivered to the new buyer.
After the delivery process, the new buyer should go to the municipality of his desired area and receive a statement along with his property deed and declare that from this moment on, he is the new owner of this unit in that area.
In order to refer to the municipality and receive the statement letter, it is not necessary to be present on the day of delivery of the property, and this work can be conducted during the following days as well.
Costs of buying a property in Turkey
Costs of buying a property in Turkey
1_ The cost of the property evaluation report or Ekspertiz Raporu
2_The costs of transfer of real estate documents (Tapu)
3_ Costs related to real estate agencies
4_ Property tax
5_Real estate and earthquake insurance
6_ Costs of water and electricity connections
7_ Costs of telephone and Internet connection
8_ Costs of maintaining the purchased property (charging, etc.)
9_Costs related to immigration lawyers
10_ Management of miscellaneous expenses
1_ The cost of the property evaluation report or Ekspertiz Raporu
As we discussed in detail about the Ekspertiz Raporu in the previous sections, this is an important certificate for the transfer of the deed that you will be asked to provide. For more information on Ekspertiz Raporu, please click the link.
Under the costs of buying a property in Turkey, which we will discuss below, remember that this certificate will be a requirement, and its cost will be paid by the buyer. In many cases, the private sector that operates in this field will receive an amount of around 1,500 to 2,500 liras for the cost of issuing an Ekspertiz Raporu.
2_The costs of transfer of real estate documents (Tapu)
1_ Property transfer tax
2_ Translation of identity documents with notarization
3_ The cost of a certified translator
4_ Attorney fee
5_ Cadastral tax
1_ Property transfer tax
For the purpose of cost management at the date of deed transfer, which we have mentioned in the previous sections, and is conducted by the General Department of Land Registration and Cadastre, a sum of 4% of the declared value of the purchased property should be paid as a tax to this department at the date of transfer.
As we mentioned before, in the discussion of buying second-hand houses and market custom, 4% of total price will be charged from the buyer, but for buying newly built and corporate houses, this 4% should be paid equally, i.e. 2%, by both parties.
2_ Translation of identity documents with notarization
At the date of deed transfer, you will definitely need to translate your identity documents such as passport, birth certificate, national Id. card. In this case, you should do the translation of the mentioned documents in advance. Note that if you translate your identity documents inside Iran, which we have mentioned previously, these documents should be duly signed and sealed by the Ministry of Foreign Affairs and the Judiciary. Also, such translations are required to be approved and registered by Turkish consulate in Iran; otherwise, the documents that are translated inside Iran will not be approved by the Turkish notary.
In Turkey, you can have your identity documents registered and translated subject to payment of a fee to the translation offices, and then by referring to the notary offices located in different areas, register them in official notary offices. For the cost of translation and notarization of documents, an amount of 500 lira per person may be paid.
3_ The cost of a certified translator
If you do not have sufficient command of the Turkish language, at the date of deed transfer, you will definitely need a certified translator who must be approved by the Turkish judiciary and whose identity documents have already been approved by the Tapu Department. In such case, a certified translator is mandatory and without his presence, the transfer of the deed will not be processed.
In regard to the certified translator, remember that this translator should be approved by the government and work officially, and if not, he will be prevented from appearing in the Tapu office.
An amount of around 500 liras should be considered for the cost of the translator at the time of the transfer of the deed
4_ Attorney fee (optional)
If you need a person to do the registration and transfer of the deed on your behalf, you should give him a power of attorney and register it in the notary office of Turkey, and as a result, pay the attorney’s fee for the transfer at the date of registration and transfer, and related affairs.
The attorney’s fee may be varied based on the clauses of the power of attorney, but keep in mind the average cost of 250 to 400 liras.
5_ Cadastral tax
The Tapu and Cadastre Registry Office will receive a one-time fee for the DONER SERMAYE, which we have already mentioned. It is around 1300 to 1500 liras, which you will be required to pay at the time of transferring the deed.
3_ Costs related to real estate agencies
In regard to the commission for the purchase of the desired property, you should pay attention to several important points, which we will discuss in details. If you choose a second-hand property for purchase, you are legally obligated to pay 2% of the total amount of the property along with value added tax, which you are required to pay to the real estate agency after completing the purchase process. This amount will be collected from both the buyer and the seller in second-hand houses.
Apart from the second-hand houses, when you may purchase a property from construction project from yourself and/or directly purchase the desired apartment from the owner of the land. In this case, all the costs related to the real estate commission will be paid by the desired company and you will not pay any other fees for commissions and deed or other incidentals. Therefore, in choosing the type of property you want, make sure that in most cases and when you purchase a newly built apartment, the construction company itself is responsible for paying the commission to your introducing agency, and also, and all costs such as registering and transferring the deed.
4_ Property tax
The property tax is recognized in most cities of the world and is collected annually from the owners. Usually, urban municipalities request 2% and in non-urban areas 1% for the annual tax from the owners.
Also, the tax rate on commercial properties is 4% in urban areas and 2% in non-urban areas, which is also collected annually. The purpose of levying these types of taxes by the government is to improve the water and sewage supply, the implementation of legal services and fire control, among other things as stipulated by the law.
5_ Costs of water and electricity connections
For subscription of water and electricity, which is supplied by different private sectors in Turkey, the relevant costs may be varied for different neighborhoods even within different cities.
Subscription fee for electricity connection
If you are applying for an electricity meter for the first time at the power distribution department and the private sector of your desired area, you should pay an amount of 200 to 300 liras as a deposit. If your DASK insurance has expired, the transfer fee will be equal to the amount of the deposit and the additional DASK amount.
Subscription fee for water connection
For obtaining a water meter for a residential unit, if you are applying for a water meter for the first time, you must pay an additional deposit of 775 lira, and if the DASK has expired, the transfer fee is equal to the amount of the deposit and the additional amount of the DASK.
6_ Real estate and earthquake insurance (DASK)
DASK is the insurance related to the earthquake, which is mandatory to be obtained and approved by the Turkish government. This earthquake insurance policy, the cost of which is calculated based on the square meter of the property area, covers the risks caused by fire, explosion, tsunami or landslide during and after the earthquake.
Usually, the cost of DASK insurance is around 150 to 250 liras, which will be different based on the size.
In addition to DASK insurance, which is mandatory, you may insure your desired property with real estate coverage against risks such as fire, theft and some weather damage. Real estate insurance provides the possibility of reimbursing losses to homeowners for such cases.
7_ Costs of telephone and Internet connection
In today’s world, it is very difficult to live without the Internet, and nowadays having an Internet connection is one of the necessities of daily affairs that people pay special attention to. You can access and use high-speed internet that is well managed in this country.
The three main mobile phone operators in Turkey are: Turkcell, Turk Telecom, and Vodafone, which provide such services.
Most of their tariffs are almost similar to each other. Further, they offer very good packages to their customers at some times of the year to attract customers.
In order to subscribe to one of these three operators, you should refer to their representative and you will receive a subscription without paying any fees. At the end of each month, you will be issued an invoice, which will be an average of 130 to 150 liras to be paid.
All three operators will not charge you for installing the internet and modem, which will be provided to you for free at the first opportunity.
8_ Costs of maintaining the purchased property (charging, etc.)
Usually, property owners pay a monthly fee for their purchased property to the managers of buildings or residences or normal apartments for maintenance and upkeep such as charging, the amount of which is very different based on the type of residential unit. In some cases, for the maintenance and repair of the property, an extra amount should be paid to the management of the complex, which is considered as part of the cost of buying the property.
9_Costs related to immigration lawyers
Due to the widespread acceptance of foreign investors to purchase a property in Turkey and their significant presence in recent years to obtain Turkish citizenship and passport, the question of having a suitable lawyer to handle citizenship affairs in Turkey has always been controversial. Some of the groups that are engaged in providing services in the field of real estate in Turkey have experienced lawyers who entrust their clients’ affairs to them and do their clients’ affairs in return to fair fees.
The fee that should be considered for a lawyer is different according to your needs and the request you will have from him, but if you only request your immigration lawyer to follow up on your passport and citizenship issues, this could be around 2000 to 4000 dollars per each family.
If you purchase a property in the top projects of Istanbul with our collection, you may receive a very good discount on this fee.
10_ Miscellaneous expenses
In this section, we tried to fully explain all the costs that you will face for buying a property and convey enough information, but you should also pay attention to the fact that these figures may undergo changes time to time. Therefore, you should always inquire the spot rates upon your presence in Turkey.
In addition to the costs that we introduced separately, be sure to include other miscellaneous costs such as hotel and plane tickets, transportation costs, and other things that you may encounter during your stay in Turkey.
Rules and conditions for buying property in Turkey 2021
According to Note 35 of the Turkish Real Estate and Land Law under No. 2644 approved on May 18, 2012, nationals of foreign countries (except countries whose nationals are prohibited from buying and selling) can purchase property by considering and following the relevant laws in Turkey. Regarding which countries are on the banned list, you can refer to the site of the Land Registration and Cadastre Departmet of Turkey. It should be noted that the citizens of foreign countries can purchase all types of property by inquiring with the relevant authorities, including commercial, office, lands, residential, etc. with any amount. And in this case, there are no restrictions. If foreigners purchase land and want to build on it, they should start the construction of the project within two years.
Minimum capital required to purchase property?
Note that there is no legal limit for investing in Turkey, but you need to know at least how much capital is needed to purchase a property in Turkey. The price of a property in Turkey depends on many aspects, including the area, region, project and age of the building. A property in Turkey is between 3 thousand and 5 thousand liras per square meters, and you can purchase a normal and small house (50 square meters) by paying 150 thousand liras and above.
It should be kept in mind that the price of property in Turkey depends on the value of foreign exchange as well.
It should be noted that that you could easily purchase an inexpensive property in Turkey comparing other parts of the world.
How to get a Turkish passport
1_ Why Turkish passport and general conditions
2_ Value and benefits of Turkish passport
3_ Necessary conditions for obtaining a Turkish passport
4_Necessary documents for obtain Turkish citizenship and passport
5_Different methods of obtaining a Turkish passport
1_ Obtaining a passport through working in Turkey
2_ Obtaining a passport by buying a property in Turkey
3_ Obtaining a passport through company registration
4_Obtaining a passport through investment in the bank
5_Obtaining a passport through marriage with a Turkish citizen
6_ Steps to get a Turkish passport
1_ Why Turkish passport and general conditions
In recent years, there have always been many discussions about obtaining and receiving Turkish passports, and due to the great acceptance of this issue by foreign investors, this question is raised as how to obtain Turkish citizenship. For many reasons, Turkey has been the focus of foreign investors for immigration, which has grown significantly in recent years.
The special geographical location of this country, which contains two large and important continents of the world, is one of the most important features for investment and immigration to Turkey, and it is considered one of the attractions of this beautiful country from an immigration perspective.
Among the important cultural attractions, more than 75% of its population are Muslims, which has somehow influenced the type of immigration. However, the Turkish government is generally secular and in terms of citizenship provide freedom of speech. In 1978, Turkey submitted its application for membership in the European Union, and in 1999, this union introduced it as an official candidate for membership in this union. Due to the general conditions and location as well as political relations, Turkey benefits from a good economic condition.
2_ Value and benefits of Turkish passport
The passports of different countries are ranked annually based on the quality of life as well as political and social relations, which are of great importance for passport applicants.
At this time, the Turkish passport is ranked 38th in the list of world passports, and citizens of Turkey can travel directly to 71 countries without a visa. And in 44 countries of the world, they will be issued a visa upon entering the destination country. Among the other significant advantages of obtaining a Turkish passport, it should be noted that due to its geopolitical location, this country can be considered a suitable place for foreign investors to do economic affairs and invest, which increases its attraction as an immigration destination.
Considering Turkey’s modernity compared to European countries and the cheap cost of living, immigrants from other countries choose this Eurasian country to live.
One of the other benefits of Turkish passport for foreign investors is the free economic opportunities that arises for them upon entering this country. They will not face common economic restrictions of other countries. With Turkish citizenship and passport, they can operate freely like citizens of Turkey, along with its many benefits.
In general, a few benefits of getting a passport may include:
1_ Having the right to vote in all elections
2_ Obtaining a valid passport with a world ranking of 40th
3_Entry to top countries without a visa
4_Obtaining a visa for European countries in a short period of time
5_Receiving pension from the Turkish Labor Department
6_ Obtaining an American visa with a Turkish passport easily
7_Free economic activity with the world without restrictions
8_The possibility of using free education facilities
3_ Necessary conditions for obtaining a Turkish passport
In many cases, especially for foreign nationals, this question may be raised as to how to obtain a Turkish passport and citizenship and how to take the necessary measures for this process, which we will discuss in this section.
An applicant for Turkish citizenship should apply for a Turkish passport, which is offered in different ways, according to his conditions.
Examining the ways to obtain Turkish citizenship and passport will help you make the best possible decision to obtain Turkish citizenship and passport proportional to your conditions and needs. One of the significant ways to obtain a Turkish citizenship and passport that have attracted the attention of foreign investors in recent years is the purchase of a property in Turkey. This has provided for growing trend of real estate purchase by the foreign nationals in Turkey in recent years.
Other methods include investment in Turkish banks, registering a company, etc., which we will discuss in detail in the next sections of the article.
4_Necessary documents for obtain Turkish citizenship and passport
In previous sections, we have fully mentioned the conditions of Turkey, the cultural relations of this country with other countries, the world ranking of Turkish passport, and the economic benefits of having a Turkish passport.
At this point, the question arises as to what documents we will need to receive a passport, which we will mention below.
To obtain a Turkish passport, an applicant should be at least eighteen years old.
1_Orginal copy of the applicant’s passport along with his family with a validity of one year
2_Clean Criminal Record Certificate
3_ Original copy of the applicant’s birth certificate along with his family and their copies
4_ Original copy of residence card
5_ Certificate of physical and mental health
6_ Proof of financial ability
5_Different methods of obtaining a Turkish passport
1_ Obtaining a passport through working in Turkey
Obtaining a work visa is one of the ways to obtain a Turkish passport and become a citizen of this country. In order to receive a work visa and then a Turkish passport, you should be issued a job offer through a reputable Turkish company or employer, based on your experience and profession. After receiving the job offer through the Turkish company or the employer, the applicant should apply for a work visa, which will be granted to him within a period of ninety days. This permit will be issued initially for one year, and if this visa is extended for eight years, the applicant will be granted permanent residence in Turkey and may receive passport and citizenship of Turkey.
For work visas and job offers for foreigners, there are usually many restrictions, and due to the high unemployment rate in Turkey and the lack of proficiency in English, the process of obtaining a work visa is usually difficult.
2_ Obtaining a passport by buying a property in Turkey
As we discussed in the previous parts, one of the main methods, by which a foreign national can obtain a Turkish citizenship and passport is to purchase a property in Turkey. This is one of the best and fastest method that has been widely accepted in the past years.
Note that, as the Turkish legislator stipulated, it is required to purchase a property with value of over 400,000 dollars by a foreigner to be granted a passport for him and his spouse and children under eighteen.
By purchasing a commercial, office or residential property in Turkey, you can obtain Turkish citizenship immediately (less than 90 days). For buying a property in Turkey, however, many things must be carefully considered for a smooth application and issuance of a Turkish passport:
1_ Be sure to purchase a property from a Turkish individual or citizen or company.
2_ In terms of debt, the property in question should not have problems.
3_ The value of a property for citizenship should exceed the amount of 400,000 dollars.
4_ Using real Ekspertiz Raporu
You should also pay attention to the following important points.
For obtaining citizenship by buying a property in Istanbul, not that citizenship will only be granted to children under the age of eighteen, and for children over the age of eighteen, it is required to purchase additional property per child above eighteen amounting to at least 400,000 dollars.
3_ Obtaining a passport through company registration
Another method to obtain a Turkish citizenship and passport is to establish and register a company in Turkey.
In this way, after registering the company and paying the insurance premium and work permit for five years, you can submit your application to the government to receive the passport of this country. As long as you have complied with all the requirements of the Turkish government, you will be granted Turkish citizenship and passport.
4_Obtaining a passport through investment in the bank
One of the most attractive ways to obtain a Turkish passport is to invest in the country’s banks, which has been very popular in recent years and many foreign investors have also benefited from this law.
In this way, the applicant submits his request for citizenship to the Ministry of Interior by blocking the amount of 500,000 dollars in his bank account held in Turkish banks and will be issued citizenship through investment.
Note that you are not allowed to withdraw the investment amount for three years, which will be credited with bank interest.
You can put the equivalent of 500,000 dollars in your bank account in lira or dollar or euro or in any other foreign currency without any restriction by the government or the bank in question.
The interest rate and bank profit are different during different times in Turkey.
5_Obtaining a passport through marriage with a Turkish citizen
Marriage with a Turk nationals is another method of obtaining Turkish citizenship and passport, which has raised many questions during past years. We will discuss this method in details.
If you or a person who is a citizen of Turkey gets married, after three years you will be granted the citizenship of this country. The important points that the government and the Ministry of Interior pay attention to in this process is the authenticity of this marriage, which is subject to comprehensive investigations at different points.
Also, it is required to have a clean criminal record for such marriage, which the Ministry of Interior of Turkey pays a lot of attention to.
If it is found that a marriage was faked to obtain Turkish citizenship, heavy punishments such as prison are considered for the person.
6_ Steps to get a Turkish passport
1_Determining the citizenship model
2_ Preparation of required documents
3_ Taking temporary residence
4_ Completing the application and obtaining citizenship
In the previous sections of this article, we mentioned various cases of how to obtain Turkish passports and citizenships for foreigners, and we have also examined them separately. We considered the fastest and best way to obtain a Turkish passport is to purchase a property worth $250,000 or more, which is more popular than other cases.
1- Determining the citizenship model
The first and most important point in the process of obtaining a Turkish passport is to choose the method of citizenship, which is determined according to the conditions and needs of you and your family. According to the points mentioned in the previous sections, case for obtaining a Turkish passport will be reviewed by the Ministry of Interior.
The most common way to obtain citizenship is to purchase a property in this country, which we have discussed. That is, by buying a property over $250,000, you can easily obtain a passport for yourself and your family within about ninety days.
2_Preparation of required documents
Upon choosing the citizenship method, it is necessary to complete the application and necessary documents, and submit such to the relevant authorities. The most important of which we have already mentioned include clean criminal record certificate, original copy of passport and its copy, completed questionnaire, and fee payment receipt.
3_ Obtaining temporary residence
One of the main prerequisites for obtaining a Turkish passport is to get a temporary residence permit, which foreigners are required to obtain before starting a passport issuance process.
Obtaining a temporary residence is not particularly complicated and it is requested by the Turkish Immigration Department for the family in question. It is granted in a short time, but it is one of the main prerequisites for obtaining a Turkish passport.
4_ Completing the application and obtaining citizenship
Upon preparation of the necessary items, it is required to refer to the government counter offices, complete the application and fingerprinting for the issuance of a Turkish passport, which will be submitted to the Ministry of Interior of Turkey in Ankara. After the checks and the approval of the authorities, a Turkish passport will be issued to you at the ministry and sent to your place of residence.
The process of obtaining Turkish citizenship is not a difficult task if it is followed by an experienced person who oversees affairs in Turkey. Only knowing the existing laws and doing the work properly will facilitate and accelerate the passport issuance process. This will be better done by your immigration lawyers, but we provided you with an overview of the citizenship and passport issuance workflow.
How to get residence by buying property
How to get residence by buying property
In general, the Turkish government has considered two residence models for the purchase of a property by foreigners in this country, which we will discuss:
1_ Residence and obtaining a Turkish passport
2_Temporary residence with lower amounts
1_ Residence and obtaining a Turkish passport:
In the previous section, we have discussed in detail how to receive and obtain Turkish citizenship related to the purchase of a property in Turkey for amounts above 400,000 dollars. For more information, please refer to previous sections.
2_Temporary residence with lower amounts:
In this section, we will generally discuss how to obtain residency with amounts less than 400,000 dollars.
If you purchase a property in Istanbul or any other city in Turkey for less than 400,000 dollars, the Turkish government will offer you a one or two-year temporary residence permit, which you can renew every year and stay in Turkey. In this stay, a person buys a property or properties for any amount, submits his request for residence to the immigration office, and by setting a date and submitting an insurance policy and land rights paid to the government, he is eligible to receive temporary residence by buying a property.
In this residence model, Note that if you purchase a property with a low amount and the number of people applying for residence is more than usual, your application may be rejected through the immigration office and will not be examined, so always pay attention to the proportion between the area of the property, its value and number of the applicants.
Another important point about temporary residence is how to convert it into permanent residence. In response, it should be noted that such residence may not be converted into a permanent residence and it will be never issued a Turkish passport.
Another issue is to rent a property and obtain residence from the immigration office.
If you rent a property for your residence, the person who rented your property, if he is a foreigner, you are not allowed to introduce this property to the immigration office to obtain residence because this property is already in the system as another person’s residence.
FAQ
After the purchase and completion of the transfer of the purchased property deed, the question arises for many, whether the purchased property can be rented or not.
The answer to this question is very clear and you, like all citizens of Turkey, can rent out your purchased property and benefit from its income, and there will be no legal problems in this area.
When it comes to renting a property in Turkey and in most tourist cities, you can rent your property in several ways and earn different rents in different cases. The first and most common method of renting is the annual contract, which is implemented in the form of a one-year contract or more. In another model of rental income, you can rent your property on a short-term or monthly basis, which is more common in houses that are purchased with a hotel concept.
Or you can offer your property through sites like AIRBNB under daily or weekly rent to the citizens of other countries of the world and get great financial benefits from it.
Another question that gets a lot of attention after the purchase and completion of the transfer of the deed is how long after the purchase of the property it can be sold; in response to this question there are two general issues which we refer to.
If you used the property you bought as a means of obtaining Turkish citizenship and passport, you will not have the right to sell it and hand it over to someone else for three years, and in fact, the said property deed is mortgaged for three years and cannot be sold.
But if the Turkish passport and citizenship are not included with the purchased property, you can sell the said property at any time you want and follow the transfer matters.
Another important point that should be paid attention to, and it is also very important for obtaining a passport, is to the sale of property to non-Turkish people. This is not suitable for those who are thinking of obtaining a Turkish passport. It means that you cannot sell your house to another foreigner who wants to obtain Turkish passport and citizenship. In case of Turkish citizenship and passport, the property should be purchased/soled from/by a company or person with Turkish citizenship.
1- Foreign citizens can only purchase 10% of the land and properties of each district
2- None of the foreigners can purchase the land located in the military and security areas of the Republic of Turkey.
3- Any foreigner in Turkey can purchase up to thirty hectares of land in the Republic of Turkey.
A number of restrictions applied to the property by a foreigner were mentioned in the previous section, but for the number of apartments purchased in Turkey, no limit has been set by the legislator.
Considering the events that happened in the field of real estate in neighboring countries in the past years, the question always arises, whether real estate documents in Turkey are ninety-nine termed or not. To this question, it should be pointed out that the Republic of Turkey grants the same deed that it provides to its citizens without any exception to foreigners investing in this country.
A comprehensive introduction to Turkish neighborhoods
Avrupa yakasi – European Side of Istanbul
Anadolu yakasi – Asian Side of Istanbul
Comparison of neighborhoods in Istanbul
Istanbul is one of the most beautiful cities in the world, which contains two large and vast continents in one location. This very beautiful metropolis has been welcomed by tourists from all over the world in different periods due to its very special location. For many years, it has taken the first place in tourism among other cities in Turkey.
As the third tourist city of the world, Istanbul has always attracted many tourists who, after being in this extraordinary area with indescribable beauty, wish to invest and purchase property in it, according to the official reports. Relying on such robust statistics and the evidence, it has taken an increasing trend and it is expected to be continue.
Considering the vastness of the city of Istanbul, Turkey and the huge population that lives in it from every urban class, regions, and international communities, there are always many questions about how to choose neighborhoods and their location and lifestyle in the neighborhoods. Based on our long professional history and experience, we will provide comparison of the neighborhoods of aimed at choosing the desired area for the purpose of purchase or rent a property in Istanbul.
It is noteworthy that these observations are based on field research and experiences that we have gained during years of our highlighted operation in Istanbul. However, it might be biased with personal tastes and background.
In general, Istanbul, Turkey, which is the largest city in Turkey, has 34 different areas from a vast east-to-west stretch on the map, and is divided into two parts, Asian and European, in two continents of the world.
Both the Asian and European parts are east-to-west oriented, and the urban areas are mostly on the shores of the Mediterranean Sea to the Black Sea.
It should be noted that Istanbul may not have the upper city part located at the bottom of the mountain, but includes high-level neighborhoods next to the Bosphorus Strait as discussed below.
In terms of area, Istanbul is 7 times larger than neighboring capitals and have a population five times larger than other regional capitals. Istanbul has 3 airports, including Ataturk Airport, which accepts cargo planes, and 2 other airports, where both foreign and domestic flights ae received, one located in the European part and the other in the Asian part of Istanbul.
Upper class and luxury neighborhoods include Bagdad Street in Kadikovi (this street itself has very wide sections that include the area of Bostan, Suadiye, Fenerbahçe Roads and at the end of Bostancı beach from the south and Göztepe and Erenköy neighborhoods from the north are the best points of this street). Next to this street, we should mention the Ajar Kent neighborhood in Beykoz in Asian part, which is a collection of the best villas in Istanbul. This neighborhood is considered one of the upper class and luxury neighborhoods of Istanbul. The concept of this area is the collection of luxury villas, with high-end apartment residences. From the European side, the famous Besiktas area, from Bebek Beach to the second bridge, as well as from Levent to the bottom of Zorlu Center, which has very luxurious residences with different prices, has long been considered one of the luxury spots in Istanbul. In the north of Besiktas, inside the Sarıyer region, it should be noted the Maslak neighborhood, which contains a collection of luxury buildings and towers of Istanbul and has been well-recieved by many foreign investors in recent years. A little beyond these suburbs, Bosphorus strait, it can be noted the area of Florya in Bakırköy district, where you can find a large number of luxury villas and residential complexes in cozy and quiet alleys under Atatürk forests.
Add to this the top residence of Emar, the builder of Burj Khalifa, Dubai, in the Üsküdar district.
In general, the areas adjacent to the Bosphorus strait of Istanbul, from both the Asian and European parts, should note high cities or good places in Istanbul. There are also high-end areas like Sisli on the European side and Atasehir on the Asian side. In addition, there are notable areas such as Nişantaşı and Büyükdere Street from Torun Center to Isbank towers near Maslak district. Additionally, we should note Esenyurt and Beylikdüzü areas, which are foreign national-populated and popular areas for foreign investors.
Do not forget areas like Pendik and Sancaktepe, which welcome foreigners with newly built residences on the Asian side.
The lower part of the city of Istanbul should be considered areas like Tarlabashi, Kurtolush and Gazi Osman Pasha, which are not recommended for living.
Due to the vastness of Istanbul, it is practically impossible to compare these neighborhoods one by one.
Areas like Kartal and Maltepe, which are neighbors on the Asian side, are among notable areas of Istanbul.
Neighborhoods like Bagcilar and bahcelievlernext to Güngören in the center of Istanbul have historical context and high population density.
The areas of Bayrampaşa, Güngören, and Merter, along with Gaziosmanpaşa and Eyüp Sultan contain a large number of industrial workshops in these areas.
Fatih and Beyoglu areas of Istanbul, which are located in the heart of Istanbul are considered the city center of Istanbul. In general, the main and historical core of the city, i.e. Bazaar, is located here.
