Cheap Property for Sale in Istanbul
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Best Cheap Properties in Istanbul
There are several ways to get cheap real estate in Turkey. One of them is to buy a house from the land. Buying a house from the land means buying a house before the construction starts. Selling the flats whose design phase has been completed but the construction works have not started yet is called a land sale. The contractors who buy the lands can put the lands falling into the contractor's share for sale before the completion of the construction, according to the contract with the land owners. These circles are called earthen circles. Another way to buy cheap property is to buy a second-hand house. These houses are relatively older than the new projects that are being presented in our portfolio and may have fewer qualities. Lastly, there are properties from the suburb areas such as Beylikdüzü, Esenyurt, and Başakşehir. Suburb area may be located quite far away from the town center. As the population grew higher in Istanbul, these suburban areas have recently been preferred because of their vastly expansive areas, also have been targeted by new, luxurious, and modern projects.
What are the Features of Cheap Properties in Istanbul?
Buying an apartment whose construction has not yet started is a very advantageous option in terms of price for the cheap property. When you decide to own a house from the land, you can buy the house at more affordable prices. The ratio of the price advantage between buying a house from the ground and buying a turnkey house may vary according to the projects. However, you usually pay 20% less when you buy a house from the land. In addition, the company from which you will buy your flat from the ground may have made a loan agreement with the banks. Thanks to these agreements, you can take out loans by taking advantage of advantageous interest rates. The value of the house you purchased before construction begins will increase after the project is completed. In other words, when the flat you bought from the land is completed, you can make a profit by selling this flat for higher prices than you bought it. In other words, we can say that buying a house from land is more profitable than buying a turnkey house.
Those who want to buy a second-hand flat to make cheap real estate investments are mostly interested in the price change of the houses in the area where the flat is located. How soon they can get their investments back, as well as the rental income they will get, has special importance in their decisions. Owning a house, especially in a building that is likely to be evaluated within the scope of urban transformation, may provide higher earnings to its investor shortly. You can either rent the flat you bought cheaply or sell it when its value increases. In any case, you are in the snow for the cheap property.
Lastly, as these properties from the land are in the process of construction, the buyers may have the opportunity to design the interior features of the apartment depending on their preferences. Especially, for people who are plainly strict about their liking, and have the ability to change the design of the apartment. However, not every construction firms comply with these demands, as a potential buyer it is wise to ask it before making the final decision.
How to Buy Cheap Property in Istanbul?
We can explain the answer to the question of how to find a cheap house with a few items. You can easily find your dream home even by applying just a few items. Here are the ways to find a cheap house we have prepared for you:
- Follow the campaigns: When it comes to housing projects, companies offer extremely advantageous payment terms. Especially in a newly presented project, bank loans, and zero-interest applications are usually possible.
- Not to miss the launch periods: If you encounter a newly presented housing project for cheap property, the most common way to find a cheap property is during the launch period. Because the apartments bought during the launch period are very likely to make a valuation. When you buy a cheap house, it will soon turn into a good investment tool for you.
- Looking at developing regions: The geography of Turkey is quite wide. Therefore, many housing projects are being built in newly developing regions. If you focus on areas where the settlement is not fully settled, you can reach very affordable houses.
- Looking at the real estate index of the region: The real estate index represents the ratios where you can find the clearest information about a region. If you want to invest in regions with a decreasing real estate index, you can easily reach cheap houses.
You can buy cheap and safe properties in Istanbul Property for the cheap property for sale in Istanbul Turkey.
How Much Are Cheap Properties in Istanbul?
Even though the cost of cheap properties in Istanbul may vary depending on several factors, rough estimations show that cheap apartments in Istanbul are between $164.270,01 and $383.296,69 USD. These factors include the apartment type, whether it's a villa, penthouse or a high-end residential. The other factor is the location of the property, proximity to the central areas may highly affect the price.
It's important to note that these estimates are general and can vary depending on the factors given. In order to buy a property in Istanbul that suits your preferences, consult us, Istanbul Property.
Is There Cheap Property Tax in Istanbul?
The type of tax levied on the land or building owned by the person is called property tax. According to Real Estate Tax Law No. 1319, all buildings within the borders of the country are subject to building tax and lands are subject to land tax. The real estate tax can be paid in cash or in two installments.
There is no cheap property tax in Istanbul, but there is a tax exemption. It also has conditions. Tax exemption is applied under certain conditions for residences whose gross size does not exceed 200 square meters. By the Property Tax Law, real estate tax exemption is applied for the only residences of those who have no income, those whose income consists only of pensioners, widows, and orphans, veterans, the disabled, the widows and orphans of martyrs, whose gross area does not exceed 200 square meters.
What are the Advantages of Buying Cheap Property in Istanbul?
When it comes to housing projects, companies offer extremely favorable payment terms. Bank loans and interest-free loan applications are common, especially in newly launched projects. If you come across a newly launched housing project, the easiest way to find cheap housing is the launch period. This is because apartments purchased during the launch period are likely to make a premium. When you buy a cheap property, it will quickly turn into a good investment tool due to the appreciation of property investment in Istanbul.
Here is a detailed list of the advantages of buying cheap property in Istanbul:
- Budget-friendly: Property prices in Istanbul are usually quite high, but by buying a cheap house, you can manage your budget better. Thus, it offers a more affordable approach for those who want to become a homeowner in Istanbul.
- Investment: Istanbul is one of the largest and most developed cities in Turkey and is a rapidly growing city. By buying a cheap house, you can increase your chances of future appreciation and return on investment.
- Renting: By buying a cheap house, you can rent it out at a lower investment cost. Rental prices in Istanbul are also quite high, so by buying a house you may have a chance to earn rental income in the long term.
- Personalization: By buying cheap properties, such as land sales or old buildings, you may have a better chance of customizing your home to suit your own taste and style. This way, you can have a home that suits you at a lower cost.
- Developing Areas: Cheap homes are often found in developing areas. These areas have a lower cost of living and therefore offer an ideal option for those who prefer a quieter lifestyle.
Nevertheless, the features and price of each home can be different. Therefore, it is important to do thorough research and seek the help of a professional real estate agency such as Istanbul Property before buying a house.
In Which County Are The Cheapest Property In Istanbul?
With the rising human population and increasing demands, there has been an increase in the house options that can be purchased in Istanbul. Buildings that are constantly being built offer new options for those who want to own cheap property. Property options for sale in many districts also attract attention with their appeal to different budgets. Here are the districts of Istanbul where prices are not high and where you can buy a house at the cheapest price:
- Beylikduzu district draws attention to the beautiful projects built in recent years. The district is among the preferred places with its regular infrastructure and high-rise projects. The developments in Beylikduzu, especially in terms of transportation, increase the chance of being preferred in the district.
- Esenyurt is one of the places where there are affordable house options for sale. Esenyurt is in the first place for people with low budgets, especially with its affordable apartment options built thanks to urban transformation.
- Gaziosmanpasa, which is one of the districts that receive the most immigration, has recently started to offer many new housing options with the effect of urban transformation. Today, it is one of the districts that can be preferred by those who want to own cheap property at affordable prices.
- Silivri is located approximately 70 km west of the city center of Istanbul, Buyukcekmece is located in the east, and Marmara Ereglisi and Corlu are located in the west. It is relatively far from the city center to other districts. Silivri, which is a unique option for those who want natural life and calmness, is located in a spacious location. Since the district is located on the coast, it can be seen as an ideal option for people who are bored and depressed in the city center.
- There are many districts on the Anatolian side of Istanbul where you can become a homeowner at affordable prices. Tuzla is one of the districts where you can easily find cheap property with a moderately crowded population and affordable prices.
- Kurtkoy, which is connected to the Pendik district of Istanbul; is adjacent to Tuzla, Sultanbeyli, and Sile districts. Preferred for its proximity to Sabiha Gökcen Airport, Kurtkoy is among the Istanbul districts where you can buy cheap properties.
Is It Easy to Find Cheap Property in Istanbul?
Finding cheap apartments in Turkey is not a simple task, but it is not impossible either. Istanbul is one of the largest cities in Turkey and its population is constantly growing. Therefore, demand is high and supply can sometimes be insufficient, which can push prices up.
However, here are strategies to help you find cheap real estate in Istanbul:
- Underdeveloped Areas: In Istanbul, prices may be more affordable in underdeveloped areas that are not close to the city center. As Istanbul is in the process of continuous development, it is believed that these areas will also develop in the future.
- Older buildings: Older buildings may have more affordable prices than newer buildings with higher prices. However, they lack the features that newer projects have.
- Projects sold on land: Landed projects may be more affordable as they are still under construction.
- Help from experts: With the help of an experienced real estate consultant who knows the real estate market in Istanbul well, your chances of finding a house at an affordable price may increase.
However, it is important to do detailed research and get help from a professional consultant before buying a cheap house. Also, a cheap price does not necessarily mean that the quality of the house is low. It is indisputably true that there are treasures waiting to be found in Istanbul. So, by doing thorough research, it may be possible to find an affordable yet quality home.
How to Find Cheap Property in Istanbul?
When it comes to finding a cheap apartment in Istanbul, the process may be challenging without the knowledge. However, there are numerous ways to find cheap property for sale in Istanbul, these are:
- Real estate agencies: Real estate agencies usually have information about properties for sale in the city. You can visit their websites or offices to get more information. It would be a wiser decision to get professional help while searching for a property in a foreign country as they will have more knowledge about the specific areas and properties.
- Online resources: Online resources can be a good place to find affordable properties, yet these websites necessarily may not contain enough knowledge when compared to real estate agencies.
- Less popular neighborhoods: Famous neighborhoods tend to have higher property prices. Seeking a less popular neighborhood may bring forth more affordable options for the buyer. However, it includes too much research, a foreigner may encounter hardships while exploring.
When these steps are followed, it would hasten the search process and also save the precious time of the buyer. Generally, the safest option is to consult a professional real estate agency which will ensure the buyer's comfort during the purchase process.
Why You Should Buy a Property in Istanbul?
Istanbul is a "multicultural" metropolis with its rich and unique historical architecture, extensive culinary culture, and numerous cultural and artistic events. With its four-season climate, it is one of the most preferred cities for both living and working.
With a median age of 33.1 years and a labor force participation rate of 53.6 percent, Istanbul has a dynamic and qualified demographic structure that easily adapts to the volatility of the future labor market. In this respect, it offers rich human resources to global finance companies.
This city is full of cultural treasures and hosts many events. Today, the city hosts many exhibitions and cultural activities, including Istanbul Modern, Turkey's first modern art museum, and receives many visitors from abroad.
You may come across an Italian bistro where you can sip Toscana wine after having a meal at a Korean restaurant around the corner. These little surprises are just one of the reasons that make Istanbul a world city with dozens of cities and atmospheres within a single provincial border.
Istanbul is the center of Turkey's international trade and is full of unique opportunities. Therefore, you don't have to worry about your future as an immigrant or investor at all, because there are so many opportunities in this city. So, buying a property in Istanbul is one of the best ways to get a residence permit in Turkey or earn passive income.
Whatever your business or profession, there will definitely be a great opportunity for you in Istanbul. Also, since interest rates are low in Istanbul, you can easily start your own business and make huge profits.
If you are moving to Istanbul with your family, you don't have to worry about your children's education. Because your children will receive the best and highest quality education in the best schools and universities. Turkish public and private schools always offer the best education to their students.
Where is The Cheapest Place to Buy Property in Istanbul?
The cheapest place to buy property in Istanbul can vary depending on the type of property, location, and other factors. Esenyurt is a recently developing district where you can find more affordable properties. The district has attracted a lot of foreigners in accordance with the property prices.
Esenyurt is a district located on the European side of Istanbul, Turkey. It is a rapidly developing area with a growing population and has become a popular location for real estate investment due to its affordable property prices and proximity to major highways and public transportation. Property prices range between $50,000 to $100,000 USD and more. These prices may change depending on the property location, quality, and amenities it has to offer.
Esenyurt has seen significant development in recent years, with new residential and commercial projects being built in the area. It is home to several universities, hospitals, and shopping centers, including the popular Akbatı Mall.
The district is also well-connected to other parts of Istanbul via public transportation, including the metrobus and several bus lines. The new Istanbul Airport is also easily accessible from Esenyurt.
Esenyurt has a diverse population, with many immigrants from different parts of Turkey and other countries. The district has several parks and green spaces, including the popular Esenyurt Tuyap Fair and Congress Center.
Overall, Esenyurt offers a mix of affordability, convenience, and development, making it an attractive area for both living and investment purposes. However, like any other area, it's important to do your own research and consult with a trusted real estate agency before making any property investment decisions.
Where is The Most Expensive Place to Buy Property in Istanbul?
Type of the property, location, amenities, and quality matter when property prices are being determined. In addition to these factors, the neighborhood also makes great changes in the prices. Besiktas, one of the most expensive districts when buying a property, is blessed with vibrant nightlife, a seafront location, and historic landmarks like Dolmabahce Palace.
Besiktas is a prestigious district located on the European side of Istanbul, Turkey. It is bordered by the Bosphorus on the east and the Marmara Sea on the south and is one of the most sought-after areas for both residential and commercial purposes.
Besiktas is known for its vibrant atmosphere and diverse mix of residents, ranging from university students to wealthy families. It is home to several prestigious universities, including Bogazici University and Istanbul Technical University, as well as a number of foreign embassies.
The district has a mix of historic and modern architecture, with landmarks such as the Barbaros Hayrettin Pasa Mosque, and the Besiktas JK Football Stadium. It is also a popular destination for shopping and dining, with a range of high-end boutiques, restaurants, and cafes.
Besiktas is well-connected to other parts of Istanbul via public transportation, including the metro, buses, and ferries. It is also home to several parks and green spaces, including the Yildiz Park and the Macka Park.
Lastly, Besiktas offers a unique blend of history, culture, and modernity, making it an attractive area for both living and investment purposes. However, property prices in Besiktas can be among the highest in Istanbul, so it's important to do your own research and consult with a reputable real estate agency before the final decision.
Is Buying Property in Istanbul Good Idea?
Buying property in Istanbul can be a good idea for several reasons. Istanbul is a vibrant and growing city that offers a mix of history, culture, and modernity. It is the economic and cultural center of Turkey, with a growing population and a strong demand for real estate.
Here are some reasons why buying property in Istanbul can be a good idea:
Growing economy: Istanbul is Turkey's economic and financial center, with a diverse and growing economy. The city is home to many businesses and industries, which has led to a high demand for commercial real estate. Additionally, Istanbul's economic development has created jobs and attracted people from other parts of Turkey and the world, which has increased the demand for housing.
Attractive location: Istanbul is situated at the crossroads of Europe and Asia, making it a strategic location for trade and commerce. It is the only city in the world that spans two continents and has played a crucial role in global geopolitics for centuries.
Affordability: Despite being a growing and popular city, Istanbul still offers relatively affordable property prices compared to other major cities in Europe.
Citizenship program: Turkey offers a citizenship-by-investment program, which allows foreign investors to obtain Turkish citizenship by investing in real estate. This has created a strong demand from foreign buyers, particularly from the Middle East and Gulf countries. Turning the city into a good investment option.
However, it's important to note that like any other investment, there are risks involved with buying property in Istanbul. It's important to do your own research, consult with a trusted real estate agency such as Istanbul Property, and consider factors such as location, market trends, and rental yields before making any property investment decisions.
What are the Criteria for Buying Property in Istanbul?
Foreign nationals wishing to buy a house in Turkey must first make an appointment to carry out the title deed transfer process. Online appointments can be made through the General Directorate of Land Registry and Cadastre Land Registry Appointment System. Appointments can be made by calling 181 from Turkey and +90 312 593 99 00 from abroad. The documents required for real estate sales are listed down below:
- Real estate title deed
- Identity document or passport
- Real estate value certificate from the municipality
- Compulsory Earthquake Insurance (TCIP) policy
- Real estate valuation reports
A real estate appraisal report is also required. The real estate appraisal report is valid for 3 months from the date of obtaining it. The appraisal report stating the value of the real estate at the time of purchase must also be registered in the online TAKBIS system of the General Directorate of Land Registry and Cadastre.
If the transaction is to be made with a power of attorney, the original and certified copy of the power of attorney issued abroad is required. If one of the parties does not speak Turkish, the transactions must be carried out with a sworn translator.
Which Properties Are Worth Buying in Istanbul?
Istanbul is a bustling city that has a lot to offer to its residents and visitors. When it comes to buying properties in Istanbul, there are several factors to consider, including location, accessibility, infrastructure, and amenities. Here are some properties that are worth buying in Istanbul:
Apartments in the city center: Istanbul's city center is the heart of the city and is home to many cultural and historical landmarks. Apartments in the city center are highly sought after, as they offer easy access to shopping, dining, and entertainment options.
Properties near the Bosphorus: The Bosphorus is a strait that connects the Black Sea to the Sea of Marmara and separates the European and Asian sides of Istanbul. Properties near the Bosphorus offer stunning views of the water and are in high demand.
Properties near public transportation: Istanbul has a well-developed transportation system, including buses, metros, and ferries. Properties located near public transportation are highly desirable, as they offer convenient access to different parts of the city.
Properties in up-and-coming neighborhoods: Istanbul is a growing city, and there are several up-and-coming neighborhoods that are worth considering for property investment. These neighborhoods offer affordable prices and the potential for high returns on investment.
Properties with amenities: Properties that come with amenities such as a gym, swimming pool, or parking garage are highly desirable in Istanbul. These amenities offer added convenience and comfort for residents.
Overall, Istanbul offers a wide variety of properties to choose from, and the best one for you will depend on your individual preferences and needs. It's important to do your research and work with a professional real estate agency to ensure that you make a smart investment decision.
Can Foreigners Buy a Property In Istanbul?
Yes, foreigners can buy a house in Istanbul. The regulations regarding the acquisition of immovable property by foreigners in Turkey are set out in the Land Registry Law No. 2644 and Law No. 6302.
Pursuant to these laws, foreigners who are not residents of Turkey may acquire immovable property within the borders of Turkey. However, certain restrictions and conditions may apply during the acquisition process. For example, foreigners may acquire immovable property in Turkey in the same manner as citizens of countries that have a treaty with Turkey.
In addition, foreigners may be required to pay certain rates of title deed fees when acquiring immovable property in Turkey. These rates may vary depending on the country of citizenship of the foreigner and the value of the immovable property.
As a result, foreigners can buy a house in Istanbul, but there may be certain restrictions and conditions during the acquisition process. For more detailed information on the acquisition of a real estate by foreigners, please contact the relevant authorities in Turkey or a lawyer.
The ethnic composition of the city's population is quite diverse and people of different ethnic backgrounds live in Istanbul. Although the majority of people living in Istanbul are Turks, the city is also home to people of the following nationalities:
Since Istanbul is a historically and culturally important city, the fact that people of different nationalities have lived in the city makes it rich in terms of cultural heritage.
Where Do Most Foreigners Live in Istanbul?
Foreigners living in Istanbul are spread out throughout the city, but there are some neighborhoods and areas that are particularly popular among foreigners. Here are some of the most popular neighborhoods where most foreigners tend to live in Istanbul:
- Esenyurt: Esenyurt is a district located on the European side of Istanbul, Turkey. Esenyurt is bordered by Avcılar to the west, Beylikdüzü to the east, Büyükçekmece to the south, and Başakşehir to the north. The district has a population of over 800,000 people (250,000 of them are foreigners), making it one of the most densely populated areas of Istanbul.
- Beşiktaş: This central district is located on the European side of Istanbul, and it's a popular area for students and young professionals. It's close to major universities and has a lively nightlife scene.
- Kadıköy: This district is located on the Asian side of Istanbul and is popular among foreigners who prefer a more relaxed and bohemian lifestyle. It has a vibrant art scene and is known for its diverse cuisine and colorful street markets.
- Ataşehir: This district is located on the Asian side of Istanbul and is known for its modern residential areas and shopping malls. It's popular among foreigners with families, as it offers a high quality of life with good schools and parks.
- Bakırköy: This district is located on the European side of Istanbul, close to the airport. It's known for its seafront promenade, shopping centers, and large parks. It's popular among foreigners who want to be close to the airport and have easy access to transportation.
It's worth noting that Istanbul is a diverse and sprawling city, and there are many other neighborhoods and areas where foreigners choose to live. The choice of neighborhood usually depends on factors such as proximity to work or school, lifestyle preferences, and budget.