Commercial Property in Istanbul can become the business hub of the modern world. Istanbul’s geopolitical location allows Istanbul to become the world’s leading business center.
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Moreover, there are factors supporting it. Such as Istanbul is the largest populated city in Europe, with over 15 million people. Recently we saw in the Ukraine grain deal where Istanbul played the most crucial role. In supplying the grains to Europe and Africa. Also notable are the government’s incentives to encourage investment.
Istanbul’s wide range of real estate options and the sector’s high-profit potential. Real estate investors are attracted to Istanbul because of the potential for stable rent income and capital growth. The following are more main reasons which make Istanbul one of the best cities for commercial investments.
- Long-term investment. Real Estate developers play a significant role in the boom of foreign investment in Istanbul. Therefore, developers are working to make sure to introduce properties ideal for Long Term Investment.
- The low cost of living is a vital point for Investors, especially start-ups. This point allows them to cut the expenses to maximize profit.
- A simplified buying process. When the buyer selects the property and signs the agreement, then through the pre-appointment in the title deed office, the title deed can be transferred from owner to buyer. In the process, the passport and birth certificate translation are required.
- VAT Exemption for foreigners. This is part of the policy to encourage foreign investment in Turkey, where foreign investors are exempted from up to 18% VAT.
What should you know before buying a commercial property in Istanbul?
- Your commercial property preferably should be in the city center or around it.
The center of Istanbul, which is old Istanbul, has all the main business centers, and most working-class people are based there. Therefore they tend to consume the services in it, making the city center or around it an ideal investment for commercial property. As a Turkish financial center, its corners and streets are also filled with these opportunities.
- Your commercial property in Istanbul should be in front of public transportation.
It is essential and considered the most critical key to a successful business. For example, suppose you are planning to buy an office. Location is vital. Simply because working-class people will have an easy reach to you, working-class people will also avoid extra expenses, which can occur if your business location is not near public transportation. And if you are planning for a commercial shop. Then every person passing by will see your brand, which is enormous marketing.
- It’s advantageous to have a commercial shop in malls or shopping centers.
Nowadays, business centers and shopping malls bring together sellers and service providers in one location to concentrate demand and increase client traffic. In addition, having your property in a business or shopping center brings it to the attention of searchers. As a result, you are ensuring a higher demand and a higher potential rental income.
Commercial vs. Residential Property:
There is no competition between commercial and residential property. It depends upon your purpose in buying the property in Istanbul Turkey. Both can give you good returns depending on how you choose them. In the residential property, you have to take consider the following things :
- It should be within a compound.
- It should have an oversized balcony or garden attached to it.
- All the facilities should be there, such as the children’s playing area, swimming pool, etc.
- At least one master bedroom.
- It should have refreshing views of the sea and green or at least around this area.
- Moreover, other details will be decided according to the buyer’s taste. For example, attached kitchen or American kitchen, etc.
In commercial property following points are to be taken into consideration:
- Being in a commercially active neighborhood.
- Ease of access (proximity to public transportation)
- Being in a shopping mall or commercial building.
- Having a signed contract that guarantees rental income.
Commercial offices in Istanbul:
With rapid recent real estate developments in Istanbul, There is a huge demand not only for residential but for small sizes 1+1 Homes offices which can be rented out quickly and can be used as both homes and offices. Also, there is just a 1% vat on the property. Therefore, it’s an ideal investment because it’s cheaper to buy. Quicker to rent. Available to all the types such as university students, working class bachelors, temporary renting, etc.
An investor can gain up to 6% returns and more in some cases.
Commercial shops in Istanbul:
Life without shops is food without salt was realized when corona hit the world. There is no blessing more for the people to get together, meet, and have a cup of coffee with their loved ones. A proper commercial spot allows you to do so, which are shops. In reality, commercial stores are a success for various goals while still generating significant returns. Shops are widely sought-after and straightforward to rent because they can be used for groceries, barber, laundry, and other services. Shops are typically rented out for business purposes on a long-term base, like five years, and you can gain up to 7% returns.
But for successfully gaining high returns. It would be best if you were appropriately guided. You must see the area rental demand as per the size and how the rents are in the recent market before buying any commercial property, regardless of shops or offices. This is how you can buy the most profitable commercial properties in Istanbul.
Commercial lands in Istanbul:
Most lands are investments only for ROI, not rental returns. Lands can turn into fortunes if invested in the right time and place. Land should always be invested in the outskirts of the existing center. Where the prices are still cheaper, and as the result of city expansion, these outskirts will turn into new centers. Which can be enormously profitable
The majority of land in Istanbul is residential, while there are many options for agricultural lands. The possibilities of professional farm projects are relatively limited. Land options in Istanbul include those suitable for personal use. Such as building a villa or farmhouse and those ideals for commercial development or project.
How can a Turkish company buy a commercial property?
The process of a Turkish company buying a commercial property is very like the typical buying process. a few things have to be extra taken care of.
- Authorized signatories of a company should be present at the title deed office.
- All Company documents are required, which are as follows: Vergi lavhasi, Ticaret Gazettesi, and Imza Surkeleri. All the documents must be original.
- A company stamp is required.
There is an advantage to buying any property under your company name. That you can consider this Transaction as your company expense. And which will be deducted while you are paying your tax.
Get in touch, and let’s help you to buy your commercial property:
Our portfolio includes a wide range of commercial property in Istanbul. Such as restaurants, offices, and stores in Istanbul. And buildings that could have been converted for mixed residential and business use. We have different price ranges depending upon the location in Istanbul. We also offer commercial properties which are suitable for Turkish Citizenship.
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