Advantages of investing in resale apartments in Istanbul
Advantages of investing in resale apartments in Istanbul:
Have you seriously considered investing your money in Istanbul? Real estate is certainly the first thing that will draw your attention because it is a safe way to save money, especially in a high-end city that is growing rapidly and where real estate is remarkably diverse.
Some people wonder about the possibility and importance of investing in resale apartments in Istanbul, so we at Ramzy Real Estate chose to share with you all the details related to this matter.
If you want to know the dimensions of this topic, you can follow the following article.
What is meant by resale apartments?
Before deciding whether these apartments are suitable to start your investment project or not, you should know the exact meaning of it.
(These are apartments with old construction, a long period of time has passed since their construction, which may be ten years, and it may be more than that, bearing in mind that they may have been sold during this period to more than one person).
You can take a look at the number of people and the identities of those who purchased the apartment by returning to the Land Registry Directorate.
As for the new apartments, they are newly built and may be under construction. In contrast to the old apartments, you will be the first to inhabit them.
Pros of investing in resale apartments in Istanbul:
You should take a look at all the advantages and positives that you will get when buying a resale apartment, and this is what we will explain through the following paragraph:
1 - The prices of this type of apartments are lower and cheaper than real estate or newly built apartments, and therefore they are suitable for those who do not have a large or sufficient financial balance
2 - The apartments are ready where you can receive them immediately, whether you want to live or invest.
3 - Immediately you will get the title deed of the property.
4 - There are a lot of offers for sale, you can find what suits you and at the price that you have.
5 - The price of the apartment may rise at any time, especially if it is within a residential complex.
6 - You can negotiate the price with the seller and there is a possibility that you will get a discount if there are compelling circumstances that push the owner of the apartment to sell.
Disadvantages of investing in resale apartments:
As it has its positive aspects, there are also a number of disadvantages and negatives that you will find in front of you, and here we explain the whole matter:
1 - If you want to buy an apartment in installments, you should know that you rarely find offers in installments, and the search will be for a long time before you find your goal.
2 - Istanbul is currently witnessing a lot of urban transformation projects. If the apartment is located in a very old building, it can be removed.
3 - In most cases, you will not be able to live in it directly, as you will first need maintenance, renovation and adding some modifications.
4 - You will not be able to make drastic modifications to the apartment, as it is difficult to change the distribution or division of rooms.
Top tips when buying resale apartments:
You have to take a look at the notes that we will provide through the following paragraph when you want to invest in resale apartments in Istanbul:
- First, it must be ensured that there are no restrictions on it, such as mortgage or real estate seizure, as it has a negative impact on its value and makes it difficult to sell it.
In this context, let us tell you that you will not be able to discover this matter immediately and in some cases it will not appear before two months or more have passed, as it is not mentioned in the title deed and therefore it is necessary to verify by reviewing the Land Registry Directorate.
- The second important thing is that you should give it some modern touches to ensure that it is accepted by the tenants.
- Check that there is no other buyer of the apartment and make sure that the seller can dispose of it.
- It is preferable to use a real estate company with experience in the Turkish real estate market to provide you with the appropriate opportunities and options.
- Read the projections and studies about the future of the area in which the apartment is located.
What do you think of buying a new apartment?
A large group of investors prefer to invest in new apartments for several reasons and incentives, the most important of which are:
1 - Initially, you can find many installment offers, whether in ready-made projects or projects under construction.
2 - The new apartments do not need any modification or maintenance, and therefore you will save the money that you will spend on modifying and maintaining the old apartments.
3 - You will not find any problems arising from the apartment from a legal point of view.
4 - There are many offers available for sale, in particular you can search within the residential complexes.
5 - It is characterized by high-end modern designs in accordance with international quality standards (earthquake resistance - sound and heat insulation).
6 - It can be invested in different ways, whether by renting it or reselling it.
7 - A unique opportunity to obtain Turkish citizenship if its value is not less than two hundred and fifty thousand US dollars.
8 - In the event that the apartment is still under construction, its value will be low and appropriate, and after the construction stages are completed, its price will rise between 20-30%.
You will certainly be confused between choosing a new apartment or an old one, but the matter can be easily overcome by looking at the details and information related to each of them and studying the available options well.
If you choose to buy resale apartments in Istanbul, make sure that they are no more than five years old to ensure that you do not stray from modern ideas.
If you want to have a profitable and safe investment experience, remember that we at Ramzy Real Estate are keen to provide you with the most important tips and advice, save you the trouble of searching and help you choose the right apartment for you.
At Ramzy Real Estate Company, we are glad to accompany you on the journey of buying property in Turkey and to provide you with a range of services to make the process smooth and easy , as we are always keen to present a variety of options for residential and investment properties in addition to helping you obtain Turkish citizenship for those looking for it.
- Legal advice .
- Property Management.
- After-sales services .
- Legal services and obtaining Turkish citizenship.
- Buying and selling real estate in Turkey.
- For more details, you can contact us via the communication platforms or via the WhatsApp attached on the site.
Editing by Ramzy Real Estate Team ©
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