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Properties are often cheaper during the construction phase than when they are ready. Check out Imtilak's real estate offers for properties under construction for sale in Istanbul and contact us.
Kucukcekmece, Istanbul, Turkey
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A detailed guide on buying properties under construction, their advantages and disadvantages through our article at Imtilak Real Estate, and also learn about Imtilak's offers of properties for sale in Istanbul under construction, then contact us.
- Can a foreigner buy a property under construction in Istanbul?
- What are the advantages of buying a property under construction in Istanbul?
- What are the disadvantages of buying a property under construction in Istanbul?
- Best areas in Istanbul to buy a property under construction
- Properties under construction for sale in Istanbul by Imtilak Real Estate
Can a foreigner buy a property under construction in Istanbul?
Buying properties in Istanbul under construction is one of the important real estate offers provided by construction companies and real estate brokerage firms for foreign investors wishing to own in Turkey. It is known that construction companies in Turkey offer residential apartments that are on the urban plan for sale for investment purposes, and to achieve abundant profits upon the completion of the residential project.
From a legal perspective, Turkish laws that allow businessmen of foreign nationalities to own ready properties from residential apartments also provide the possibility for those foreign nationalities to buy properties within the urban plan during the construction phases of the residential project.
Are properties under construction in Istanbul cheaper than ready properties?
With the rise in prices of ready properties in various Turkish states recently, attention has turned to buying properties under construction in Istanbul, making this type of property an important investment opportunity for foreign businessmen. Investors strive to exploit these opportunities to own properties due to their cheap prices for properties within the architectural drawings and urban plans. The earlier the construction stage of the property, the cheaper the prices and the greater the real estate value.
Are properties under construction better from an investment perspective?
Usually, the profit opportunities available within the offers of properties under construction for sale in Turkey are much greater than ready properties. A good margin of profits can be achieved after completing the construction process within residential projects, provided that an apartment is purchased within a residential real estate project with high investment value, located in central locations near all service centers and international transportation routes.
What are the advantages of buying a property under construction in Istanbul?
There are many advantages that can be benefited from by buying under construction in Istanbul:
- Cheap prices for properties within urban plans compared to ready-to-live properties, where a property under construction can be purchased with the best real estate specifications and within the most strategic locations at a much cheaper price than ready properties with the same real estate specifications.
- The possibility of benefiting more from tax exemptions when buying properties under construction, as the taxes imposed on residential properties within urban plans are lower than their counterparts in ready-to-live properties.
- When buying a property under construction, one can benefit from abundant installment offers with long terms provided by construction companies. If the full amount required for buying a ready property is not available, it can be used to buy a property under construction and pay the rest in installments until the residential project is completed.
- Buying a property under construction in Istanbul gives its owners from investors complete freedom to choose the appropriate finishes and decorations that meet expectations and desires.
- Buying a property under construction creates many investment opportunities upon the completion of the residential project.
What are the disadvantages of buying a property under construction in Istanbul?
The many advantages of buying a property under construction in Istanbul do not prevent the existence of some negative aspects, which may cause harm to property owners. Based on an objective study that explores the pros and cons of buying unfinished properties in Istanbul, we can highlight some of the damages that may result from the process of buying properties under construction in Istanbul through the following points:
- The many fluctuations witnessed by the real estate market in Istanbul and the instability known in real estate prices in general in Turkey make buying a property under construction a risky matter. Property prices may decrease over time, causing harm to the property owner due to the high costs agreed upon during the purchase process.
- Waiting for a long period to receive the property title deed, as the title deed in such cases is not delivered until after all payments due on the property price are completed.
- The necessity of searching for reliable construction companies with a good reputation in the Turkish real estate market when buying a property under construction in Istanbul, as some construction companies do not fulfill their promises regarding the delivery of residential apartments within their specified dates.
Best areas in Istanbul to buy a property under construction
Real estate experts at Imtilak Real Estate advise choosing areas with high investment value when looking to buy a property under construction in Istanbul. Areas in Istanbul can gain investment value by being located in quiet, distinctive, and vibrant geographical locations close to shopping malls, hospitals, schools, and universities, and being a short distance from fast transportation means and international transport routes.
Moreover, when looking for properties for sale on the urban plan, it is essential to choose areas close to investment projects such as Istanbul Airport and the Istanbul Canal, or areas close to tourist attractions and archaeological sites, which can be utilized in establishing tourism projects.
Based on the previous criteria, areas like Beylikduzu, Besiktas, Sariyer, Levent, Mecidiyekoy, Beyoglu, Basaksehir, and Kucukcekmece are among the best areas in European Istanbul to buy a property under construction, while areas like Uskudar, Kadikoy, Kartal, Cekmekoy, and Beykoz are at the forefront of areas in Asian Istanbul to buy properties under construction.
Properties under construction for sale in Istanbul by Imtilak Real Estate
Properties under construction for sale in Istanbul by Imtilak Real Estate at competitive prices and distinctive real estate specifications. Properties guarantee obtaining Turkish citizenship within distinctive geographical locations with strong infrastructure and close to service centers.
Properties for sale in Istanbul by Imtilak Real Estate offer great and suitable opportunities for living and investment within the finest neighborhoods of Istanbul close to investment projects, with the availability of completely interest-free installment options.
Book a free real estate tour with Imtilak Real Estate
Imtilak Real Estate offers you free real estate tours to various geographical locations within Istanbul to inspect residential projects on the ground. It provides you with comprehensive studies about residential apartments, the real estate specifications they enjoy, and the general surroundings in which the property is located.
The advisory team at Imtilak Real Estate provides esteemed clients with the ability to view urban plans in detail and explains all the necessary information about apartment spaces and available residential patterns, clarifying the social facilities available in the residential project. For more information about buying properties under construction in Istanbul or for those wishing to book free real estate tours, contact Imtilak Real Estate.
Edited by: Imtilak Real Estate©
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