Should I buy an apartment or an office in Istanbul

If you are wondering whether to buy an apartment or office in Istanbul, then let us tell you all the details that matter to you.

 where Istanbul is located in the northwestern part of Turkey, it is the only city in the world that spans two continents with an ever-evolving global crossroads. From ancient architecture to contemporary buildings and magnificent mosques. If you intend to buy an apartment or property in Istanbul, you must take into account many factors that will help you, the most important of which is the use of real estate companies and real estate agents such as Fanar Realty, which of course will help you reach a completely suitable purchase offer for you, so, in this article, we will answer you whether Buy an apartment or an office in Istanbul

Buying an office compared to buying an apartment in Istanbul

The most significant difference is that apartments are considered residential properties, while offices are commercial properties.

 Investing in offices as commercial real estate requires a higher initial cost, but provides higher returns compared to renting apartments.

Office leasing is a more stable investment compared to apartment rental, and offices have longer leased as they pertain to companies and not individuals. These companies are less likely to default on their rent payments. The tenant pays the government a special tax of 25% of the annual rent called a Stobag. This amount is deducted when calculating the investor's income tax, so the investor will pay almost no income tax when renting an office. Offices are gaining appreciation value faster than apartments due to the high demand for them. Therefore, do I buy an apartment or an office in Istanbul, the answer is that the two are better, and each is a different type of investment.

Advantages of buying an apartment in Istanbul

Istanbul is a global tourist city par excellence, it is a destination for tourists in all seasons, and tourism companies from around the world organize multiple trips to Istanbul. in addition to the simplified procedures for real estate ownership, in every municipality of Istanbul, there are institutions and government agencies that facilitate ownership The real estate and the confirming of the title deed and all the legal procedures necessary to complete the ownership of the apartment.

 as Istanbul is the most selling real estate province in Turkey during 2018, with 235 thousand and 55 apartments, where Istanbul’s share reached 17% of the total real estate sales in Turkey, and foreign investors are interested in looking for apartments for sale in Istanbul, especially in the European side of Istanbul, close to major government projects such as the Istanbul Canal and important projects near the E5 highway.

Where buying real estate in Istanbul is one of the most wonderful models of accommodation within residential complexes that combine services, vitality, and the appropriate location, which increased the demand for it.

 The advanced housing models in Turkey, represented in the image of residential complexes in Istanbul, with a safe environment and modern urban structure, combine an ideal social housing model with integrated services, in a modern way full of beauty, pleasure, and facilities, and building methods that compete with residential complexes in Europe and other developed cities of the world.

Cheapest apartments for sale in Istanbul

 The areas in which the purchase prices of apartments are appropriate and somewhat cheap compared to other areas of Istanbul are different in Rural Istanbul, Sultanbeyli, Silivri, Esenyurt, Gaziosmanpasha due to the construction work in those areas.

There may be apartments at very reasonable prices, which the purchase price of which reaches 70-80 thousand Turkish liras, as the reason for their low prices is that they have joint title deeds, or that their owners want to sell them in a quick time.

In answer to the question: Should I buy an apartment or an office in Istanbul? The location of the apartment in coastal areas overlooking the sea, in the city center, or even in rural areas, affects the price of apartments inside Turkey, as the price of the apartment is determined according to its location, whether near the tourist or archaeological sites or historical places, etc.

Stages of buying apartments in Istanbul

regarding the question, Should I buy an apartment or an office in Istanbul, the following must be done:

• Obtaining a tax number for the buyer from the concerned tax department.
• Opening an account in one of the banks that have agreements with Middle Eastern banks.
• Signing the contract between the seller and the buyer in the company's office, and a lawyer can be appointed for those who wish.
• Attached with the initial contact :

• The title deed of the property must be in the name of the property owner in Turkey who signed the contract, or his official representative.
• A copy of the project building permit.
• Two personal photos of the buyer.
• A translated and certified copy of the buyer's passport and a copy of the identity card of the property seller in Turkey.
• A part of the property value is paid as a deposit to reserve the property.
• After that, we start with the procedures that take an average of 30-60 days to register the apartment, due to sending the documents to the security departments of the Turkish army to obtain the security approval.
•  After the security approval is issued, a summons is made to go to the real estate ownership department and complete the property's registration officially by the state employee and in the presence of a sworn translator to explain the terms of the contract.
•  The title deed and the key are duly delivered in the presence of the real estate consultant, where the rest of the property value has been transferred or delivered in conjunction with the transfer of ownership of the property.

Apartment prices in Istanbul

 The prices of apartments in Istanbul vary according to specific factors such as

• Location and view

• Property specifications such as

1. Age of the property

2. Specifications of the property and its finishes

3. The location of the property within the residential complexes

 4. Historic building value

 The price per square meter of apartments in Istanbul ranges between $347 and $781 in the updated areas, regardless of whether the property is new or old, and this figure can rise to $1,200 in some modern areas, and double that in the most important areas of the city, The value of each property varies according to the location and specifications, in addition to the aforementioned components.

Prices of apartments in Esenyurt Istanbul

Esenyurt is one of the active real estate areas to the west of the European side of Istanbul, which has become known for its affordable properties. Here are the average prices for apartments in Esenyurt Istanbul:

 The average price of a 100-meter apartment ranges from 46,741 / 28,042 USD

Prices of apartments in Basaksehir

  The region has gained great importance over the past years, in parallel with the increasing demand for its properties, which has attracted Arabs in particular, due to its modernity of construction, and the morals and character of the region and its residents that are close to our Arab environment, in addition to the new Istanbul Water Canal project, which Work is underway to develop plans and start implementing them, which cross the region, giving its properties exceptional importance, equal to the value of its properties, the luxury properties of the Bosphorus.

  Here are the average prices of apartments in Basaksehir:

   - The average price of an apartment of 100 meters ranges from 90.116 / 54 072 thousand US dollars

Buying an office in Istanbul

  If you are looking for offices for sale in Istanbul, to buy an office, shop, or any commercial property, to open your wonderful business, or to invest in real estate, let us help you choose the best offices that suit your investment project.

Offices can be found almost everywhere around Istanbul, but they are concentrated in Business centers in Istanbul which are mainly located in the city center where the old business districts and the newly developing areas of the city are where the new real estate developments occur

Levent District

Levent is one of the main activity areas of Istanbul and is also famous for its skyscraper projects, where the grand skyscrapers are located behind the Bosphorus hills, and where the Saudi Consulate is located. European and Asian sides of Istanbul. The region has a superior infrastructure, due to an important business climate, and fast-paced business life. In the region, there are many shopping centers, corporate headquarters, bank branches, agencies operating in the capital market, shopping centers conforming to European standards, international hotel companies, as well as pharmaceutical factories such as Nobel and Pfizer.

Maslak area

 Maslak is considered the most important commercial center not only in Istanbul on the European side of it, but in Turkey in general, and it is one of the brightest areas in terms of investment and achieving high financial returns, thanks to its vitality and its middle location between the Asian and European sides of the city, which made it an approved commercial center For the most important international companies and hotels, thanks to its infrastructure full of skyscrapers and huge commercial towers.

 Maslak is located within the Sariyer district, one of the most prestigious neighborhoods of Istanbul, overlooking the Sariyer forests in the northeastern part of European Istanbul, about 5 minutes away from the famous Bosphorus Strait.

Average office prices in Istanbul

  The price of an office meter can vary from 1000 USD/m2 to 10000 USD/m2. The reason for this wide range is mainly due to the location of the offices in the first place.

Offices located in the city center are more expensive compared to those far away.

Office age and build quality also play a role in pricing, but the location is the most important factor among others. Office rates in newly developing business centers like the Basin Express area are very reasonable and have a very bright future in terms of value estimation.

This was all about buying offices and apartments in Istanbul, and we gave you the difference between them and the comparison with mentioning the details that interest you. To find out more suitable offers for you, you can contact Fanar Realty. we hope that we have provided you with the details you are looking for regarding the question of whether to buy an apartment or an office in Istanbul