Istanbul is a city of beauty, food, and historical nostalgia. This exotic city has been a favorite travel destination across the world. From its world famous cuisine to its exquisite monuments, everything about this city is mesmerizing.
If you are planning to buy property in Istanbul, you are making an important decision. Istanbul has been attracting a lot of international property investors lately given to its promising location, favorable climate and string economy. However, there are always a few things you need to keep in consideration before taking a plunge.
Here are five questions you need to ask before buying property in Istanbul:
Is the dealer genuine?
The foremost question that you need ask yourself is whether your property dealer is genuine. Though fraud is not a common happening here, you must still be cautious. Research a lot before you finalize on a dealer. Owning an Istanbul property is a dream for many. Cherish this dream and take every step carefully. It is always good to have a dealer who is experienced in handling expat clients.
Do I want a crowded or a peaceful area?
The center of the city is not where you would want to invest if you are looking for something quieter. If you like people and would love property in the rather more inhabited places, be ready to take out more money from your wallet. If you go for the outskirts, the areas are quiet and affordable.
What are the Transportation Options?
Transportation is an important consideration before investing in place. Make sure that your property is close to the stations of public transport. Also, keep n consideration the future developments in terms of transport.
How safe is the place?
Safety is another important consideration. Mostly, Turkey has a lower to moderate crime rate according to Numbeo.
What are the Legal Formalities?
Before investing, you must know the legalities. The Republic of Turkey Ministry of Foreign Affairs defines the laws that govern the purchase of property by foreigners. Understand the laws and read this guide laid down by the ministry. You can also take help from a professional.
It is important that you be aware of the consideration before investing your hard earned money in the property in Istanbul. There are many benefits of buying property in Turkey provided you are careful about the process and deal.
December 14, 2016