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Investors often inquire about real estate prices in Turkey about apartments for sale in European Istanbul or Asian Istanbul, and the demand for buying real estate in Turkey with the aim of obtaining Turkish citizenship has increased in recent times, especially after the Turkish president Recep Tayyip Erdogan's decision to grant Turkish citizenship to foreign investors. It is reported that this law was issued in 2018 with a set of government decisions that encourage investment in Turkey, and the minimum limit for buying a property in Turkey in exchange for Turkish citizenship was restricted to 250 thousand US dollars -, and most purchases were in residential complexes in Istanbul.

Recently, there has been a trend to buy cheap apartments in Turkey at the cheapest real estate prices in Istanbul specifically and Turkey in general, and this purchase was aimed at obtaining residency by buying a property in Turkey. This is one of the advantages of buying real estate in Turkey, so it gives those who buy an apartment or buy Commercial shop or any kind of real estate in Turkey the right to obtain permanent residency within the territory of the Turkish Republic.

We are often exposed to a set of questions, the most prominent of which are:

  • How can I buy a cheap apartment in Turkey?
  • Are there cheap apartments on the Bosphorus?
  • What is the best area to buy real estate in Turkey?
  • I want an apartment with a sea view, worth 30 thousand dollars
  • What is the minimum purchase price for real estate in Turkey 2020?
  • What are the real estate prices in Turkey? And real estate prices in Istanbul ??

These questions and many more are what is going on in the buyer's mind, so are there really cheap apartments for sale in Istanbul in 2020? What is the lowest price for buying an apartment in Istanbul, and are there cheap apartments in installments?

Yes, all of this is present in Istanbul and in 80 other Turkish states other than Istanbul as well, such as Ankara, Izmir, Antalya, Alanya, Bursa and Trabzon, however, as every person has advantages and disadvantages, each property also has advantages and disadvantages, so the further away from the center of any province or city the cheaper the real estate prices, and the more the apartment is old and worn out, the cheaper it is, and the more it is away from services, the less expensive the apartment in Istanbul and other than Istanbul is, in addition to the fact that an apartment in a residential complex is more expensive than an apartment in a normal building outside a complex.

Istanbul does not have apartments near the Bosphorus Strait at cheap prices at all, especially the apartments that are close to the Bosphorus Bridge, since these areas are central and free, whereas apartments with sea views away from the Bosphorus Strait, their prices vary depending on whether the apartment is close to the sea, or far from it but you still see it with a faraway sea view. It also differs according to the distance of this sea from the city center and its proximity to it.

There are very cheap apartments in Istanbul and their price may reach 20 thousand dollars as well, but attention must be paid to the nature and type of the title deed, if it already exists, and what we are talking about now is the old type of apartments or apartments that do not have a title or apartments that combine the two, not to mention its distance from the markets and central areas.

What is considered cheap for a person is not necessarily cheap for others, and the same is true for real estate. A new apartment with two rooms and a hall on the coast of the Marmara Sea in the Bakirkoy area in Istanbul at a price of 300 thousand dollars, is an opportunity that is never compensated and is a cheap apartment, and the same apartment in another area if it was a hundred thousand dollars may be expensive!

So what determines the price of the apartment whether it is cheap or expensive is the customer himself, so the best way to find out the prices of apartments and real estate is to compare them with other apartments similar to them. If there is an apartment overlooking the sea, we do not measure it with an apartment overlooking the Bosphorus, and if it is an apartment in the center of the city of Istanbul, we can not compare it to an apartment in the center of the city of Izmir, the same applies to apartments in residential complexes in Istanbul as they are not measured with apartments outside the residential complexes, and the apartment with a ready title deed is not measured by the apartment that does not have one, and we would like to point out here that buying a property under construction is cheaper than buying ready property. The cheapest apartment does not mean the lowest price. In the situation of buying an apartment in 2020 in Turkey or Istanbul, the purchase and ownership law has not changed for foreigners in Turkey, and the foreigner is still entitled to own property in Turkey and open companies and investments, even for new investors in 2020.

The prices of villas in Turkey are also determined as are the prices of apartments, so in addition to the previous determinants mentioned about the prices of cheap apartments in Istanbul, we must not forget the size limit, so a two-room apartment and a hall of 150 square meters is completely different from the same apartment (two rooms and a hall) that has an area of ​​120 square meters. and. Its price is differs approximately 20%, and this also applies to villas in Turkey, but in the determinants of villas, an additional determinant is included, which is the area of ​​the land belonging to the villa, and the area of ​​the existing building is added to it. The prices of villas in Istanbul also differ according to its region. In addition, the standard of cheapness and expensiveness differs according to the above-mentioned criteria, but as an average price for a normal villa in Istanbul and its good area, it should be in the range between 300 to 500 thousand dollars, and it may reach 5 million dollars of course according to its features.

The average price of a two-room apartment and a hall in a residential complex in Istanbul, it is between 100 to 250 thousand dollars, and of course it can decrease according to the previous specifications to reach 70 thousand dollars, and it can increase to reach 3 million dollars whereas the price of the same apartment with two rooms and a hall outside the residential complex in a normal building, ranges between 70 and 150 thousand dollars preserving the differences in spaces, views and the region.

And in the event that you give up the option to search for cheap apartments for sale in Istanbul and have decided to rent a property in Istanbul, here are the conditions for renting a property in Turkey in general:

* You cannot take advantage of apartments in Istanbul that you rent for a commercial purpose.

* You will not be able to rent apartments in Istanbul with anyone else.

* As a tenant of the property in Istanbul, the installments will be sent to the account of the property owner on the evening of the fifth day of each month maximum.

* As a property tenant in Turkey, you must report any damage that results from not evacuating the property in cases that require eviction.

How to buy a property in Turkey?

It is important that you know the steps for buying a property in Turkey, as you must be aware of these steps before going to buy apartments in Turkey.

The first step: Determine the goal of the purchase

 That is, why do you want to buy apartments in Turkey? Do you intend to settle and live in Istanbul? Or do you want a real investment that will bring you financial profits from buying apartments in Istanbul? This is an important step for you to move forward with certainty of what you want to own so that everything becomes easy. If you can determine the goal of the purchase, then you can go to the next step, but until you can organize the process of buying an apartment for sale in Istanbul….

The second step: contacting the real estate marketing company

Communication with the real estate marketing company is the best solution for you, unlike buying real estate directly from the construction company, as the construction company sells you an apartment and does not provide the accompanying services. Many of the services associated with buying an apartment in Istanbul are important and you may not be able to complete them on your own, because you are here in a strange country. As for the prices, there is no difference, as the construction company displays the prices of apartments in Istanbul to everyone, and they are the same prices that you will get from the real estate marketing company. And even real estate marketing companies may get their own prices, meaning that you will benefit from the discount offered by the real estate marketing company.

When you contact the real estate marketing company, you have to give them all the information about the apartment you want to buy. Example: I want to buy an apartment for sale in Turkey, in Istanbul, in an investment area, composed of two rooms and a hall with an area not exceeding 110 square meters. This information will help the customer services employee find the best option for you, as he can easily select the area you want to own based on your desire as soon as he gets the necessary information. Do not hesitate to ask any question you want, that is, do not feel shy of asking the customer service employee on the phone about everything on your mind.

The third step: the field visit

It determines the suitability of the options presented to you. So you should review all the information that you got by the real estate marketing company, and check the area as well. Take a tour around the project you want to own. Check out the services available in the area. If you are aspiring to buy an apartment for sale in Turkey for investment, make sure that the area is an investment one; it is known that the investment area has many companies, shops, transportation networks, and so on. While the residential area is quiet, far from the noise of companies and factories, it is also surrounded by transportation networks and is served by cheap shops such as the BIM Market, etc.

The fourth step: the deposit

It is an amount specified by a small percentage of the apartment value that the customer pays in order to reserve the apartment that has been chosen. It is a non-refundable amount after two weeks from the date of its payment, but before that, you can get the deposit if some problems occur. And after the 14-day period exceeds the specified period, the construction company can dispose of the apartment by selling it to another customer if you do not contact it and confirm your desire to buy the apartment.

Fifth step: obtaining a tax number

Through the municipal tax offices spread throughout the city, you can obtain a tax number.

 The sixth step: the financial transfer

You have to pay the value of the apartment you want to buy through a bank transfer, and this is a prerequisite in the process of buying apartments for sale in Turkey.

The seventh step: the initial contract

After paying the deposit and paying the apartment value, you move on to the step of signing the initial contract with the main owner of the apartment. This contract is a legal document that proves your ownership of the property.

The eighth step: the real estate appraisal document

The document that gives prices comparable to the price of the property you have purchased, and takes into account the price of the area, the quality and age of the complex, the height of the floor and the view is called a real estate appraisal document. It is a requirement for obtaining the title deed document. Previously, it was necessary only for those who want to own property in order to obtain Turkish citizenship, but the law has been amended and it became necessary for any foreigner who wants to buy a property in Turkey. And it is obtained through some companies approved by the Turkish government only.

The ninth step: the title deed

After you have completed all the previous steps, you can apply for the Title deed document, which is the highest proof of ownership of the property in Turkey. And since your past papers are in order, obtaining the title deed becomes easy and certain.

Related blogs:

How to get Turkish citizenship?

Turkish passport: types and features

Property prices in Turkey in 2020

Real Estate Residence in Turkey

How to Obtain Turkish Citizenship Through Real Estate Investment 

Important real estate information in turkey

Turkish citizenship by investment
turkish residency by investment
turkish passport by investment
Buying a property in Turkey
Buying apartments in Turkey

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