1. Specify your Requirements What kind of property investment you want to do?
Whether you are considering purchasing a property in your home country or abroad, knowing what type of property you are looking for, why you want to buy to live in or to invest is essential or may be for both. Whether it is a simple residential apartment, a luxurious apartment, sea-front villas, city view penthouses, a beachfront family home, stores or Lands knowing what you want to invest in should be the first thing on your checklist.
2. Period of investment
5 to 8 years investment the best option for investor since the circle of life of the property will be saturated and you can get very good ROI and you can sell your property with zero tax. 3 years investment it is the best option for people who is looking to get citizenship. 1 year investment The investment in Istanbul is so organized. Therefore, there is no choice to invest for one year duration since the ROI will be not sufficient after taxes to get good ROI so don’t invest in such duration. Long term investment Is good for the people who are willing to invest in lands When buying farmlands investors will wait 15 to 20 years and the ROI may reach 500% but this investment needs patience and you have to have very good connections in Turkey. In sort, it is really hard to obtain this in general.
3. Which province Suits you and your Family?
Location is the most important: Location plays a vital role in deciding what property you will buy depend on your budget. You need to know the areas in Istanbul and where is the best option for you depend on requirements.
4. Concept of the project
You need to choose a unique project with facilities and services like a mall, stores. Restaurants, hospitals, schools and near main streets or to metro stations ….
5. The right time for investment
When you choose an under- construction project, now it is the best time to guarantee a good investment. If you invest in right project at the right time, the capital appreciation will be more than 50% in dollar rate.
6. Type of investment
if you are looking for rental guarantee you need to go to ready projects. If you are looking for capital appreciation, it is better to go for under construction projects. The best option to be looking for both rental guarantee with capital appreciation
7. Rental Returns and Capital Growth
The return on investment and the growth of initial capital are critical factors that motivate investors to make their decision. Istanbul is a good city to invest in, keeping in mind that it is one of Turkey's most valuable regions for real estate. Therefore, choosing the right property becomes very important. There are many projects in Istanbul that promise a guaranteed return, and if that’s the case, investors can then think of reselling their properties for getting a higher return than what they invested with resale guarantee contract.
8. Property Purchasing Expenses
You need to know all the taxes and extra costs like: Purchasing tax (Title deed cost) it is 4% in general it is 2% on you and 2% on the developer but if you buy resale property so you need to pay the whole amount which is 4%. Vat it is 1% for residential and 18% for commercial but as a foreigner investor you can get exclusion of it (Ask your lawyer or property consultant). Selling tax: it depends on how much you earned from your investment. Annual tax: it goes to municipality which it is almost 100 USD yearly. Expert report cost: it costs almost 300 USD one time and it is really good because it gives you the real price for the property you want to buy. Others: there is monthly dues to the project managements depends on the services that you have in the project like security, cleaning, gym, swimming pools, restaurants, etc.
9. Choosing the Right Broker
Contact with expert real estate consultants to direct you for the best option you are looking for since they know all areas and projects details also they will help you with negotiation since they know the limit and they can tell you the positivity and negativity of the project. Choosing an agency that understands your needs is the most important. Call us and fix an appointment with our professionals who will talk to you in detail to learn your preferences, then they will help you to go in Inspection Tours to see the project in person.