This article is based on my experience dealing with land investment in Istanbul, and there are a few things that I have learned which will benefit the buyer who is interested in investing in the land. Anyway, whether you are interested or not in land, there is one thing I would like to share.
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Lands are arguably the easiest way to bring you a fortune; if you have the right decision and take the risk at the right time in land investment, it will give you returns that you may not find in any investment in the world.
In this article, I will briefly discuss land with construction allowed now or in the future.
Before getting more into what type of land investment? There are certain things buyers should be ready for while considering the land investment in Istanbul that will give you huge returns.
1. Ready to take time risk:
Not every land is available for immediate construction, or not every area you are going to buy land is inhabited, so be ready for what we say ‘ Buy and forget ‘ or ‘Sleep on the land’ as an idiom
2. Citizenship by land investment:
Suppose you are particularly interested in getting the advantage of citizenship through a land investment in Istanbul. In that case, you should know that not most of the lands are giving you the exact valuation on the expertise report or the same price in the title deed. And why is that? You may contact us to know for further details.
So if you are a buyer with your first choice being citizenship so it’s better to invest in an apartment or a villa from the construction company.
3. Immediately moving in:
If you are planning to invest and immediately move in with family, again land should not be your first choice, you may choose a ready-to-move apartment or villa first to buy and live in and then plan to invest in the land if you have further funds.
Type of land you may invest in:
- The first option is to invest in agricultural land, which is much less expensive than land under construction. This land may eventually be converted to construction land, but before doing so, you can get detailed information and advice from the district municipality about the likelihood of such a conversion.There is no time restriction with this choice; you can wait for 1 year or 10 years. Here, the risk is prolonged time, but the benefits are still worth it even when you consider the worst-case scenario with the lowest construction percentage %.
- The second option, where the construction permission has already been granted but “without section 18,” is the best choice for buyers seeking less risk over time. Under this rule, the municipality has not yet declared or allocated usage of some portions of land for public use, such as parks and schools, and this could reduce your land by about 20%. As a result, the construction permission has been granted without allowing the implementation. These lands may give you huge returns because the land is comparatively cheaper than the land where implementation permission is given.
- The Third option, where you are already given all the permission to construct the land, you can start digging from tomorrow; in this case, you are only an advantage when you have significant funds, and you find a distress deal lower than the marketing after the intensive hunt in a particular area, for further information, please get in touch with us.
Learn more about Real Estate in Turkey.
FAQ About Land Investment in Istanbul
Here you can find the most frequently asked questions about land investment in Istanbul.
Is it worth investing in lands in Istanbul?
Yes, It’s worth investing in Lands in Istanbul.
The land can be the highest ROI if invested in the right place at the right time. Most lands are only purchased as assets, not for rental income. Always invest in land on the outskirts of the existing center. Where prices are still lower, these outskirts will develop into new cities due to city growth which will be very profitable.
Which area should I invest in in Istanbul?
As of October 2022, Lands have seen a rise in prices. Some of them are hyped so much that you cannot think of getting profit. It is as if the landowner wants to keep everything for himself.
Some of them even ridiculously raised prices so that an apartment’s selling price equals the cost of land and construction. And that is right now happening in where Arab Investors have mostly high demand, including districts like Beylikduzu, Bahchesehir, etc.
So Following are the five areas which I think are the right time to grab it:
Buyukcekmece is a neighbor to Beylikduzu and 45 km away from Taksim. It already has fantastic developments, and the district has introduced the newest marina in Istanbul, Kiyi Marin. So therefore, it has enormous potential to have a high price shortly.
Even already, you might witness the price rise. But there are many possibilities on the outskirts of Buyukcekmece. And even you may find good deals in the center of Buyukcekmece.
Browse our project in Buyukcekmece: Uniquely Designed 2022 Modern Villas with Sea View
Silivri is after Buyukcekmece and is 75km away from Taksim, which is the center of Istanbul. As you know, Buyukcekmece or Silivri has its demand from the sea. You might have already heard that Istanbul has no more land. That means that Istanbul is getting occupied very fast. Everywhere construction and introduction of new projects. In the case of the sea, view areas are comparatively less available.
As a result, sea view properties will continue to be in demand, and Silivri offers vast lands in addition to sea view. So, therefore, after a few years, Silivri will see prices likewise for Beylikduzu and Buyukcekmece Sea view projects. If you are interested in learning about Beylikduzu, read this article: Beylikduzu District in Istanbul.
I believe Catalca has a future, likewise Bahchesehir. That is a project with many high-rise buildings, villas, and schools and colleges nearby. Since it is close to the airport, there will be a high demand. It is undoubtedly making its investor wealthy.
Arnavutkoy has a risk but the potential that no land can have. Arnavutkoy is the district blessed with one of the busiest airports in the world, New Istanbul Airport. But what is the risk then? Arnavutkoy is going to be the New city of Istanbul, and Canal Istanbul is also going to be passing from this district.
Although the government plans are already in place, changing plans might take your land. But you will be compensated. In any case, the prices are still reasonable in the land compared to other districts. And it will have huge demand because of its proximity to the New Istanbul Airport and Canal Istanbul. This can be the best investment if done wisely, learning all the details.
Pendik is located further down the Asian side of Istanbul. The prices of land in Pendik are still low compared to other districts. Moreover, the district has the most advantage over Sabiha Gockcen International Airport Istanbul since the airport is located in the same district.
Therefore investing in lands in the outskirts of Pendik where construction is still not allowed will be highly profitable.
Can you get a free passport out of it?
Yes, If you buy the land with all the conditions met for Turkish citizenship. Option One property provides you the Lawyer fee for applying for Turkish citizenship absolutely for free. The cost is covered through the seller as a bonus discount for you because of Option One property’s regular selling advantage and relationship with the land owners.
Are you obtaining real estate residence?
Yes, You can obtain Turkish residency through land purchase, but you have to make sure that you buy more than or equal to 75.000 USD worth of land. And Expertise report must mention the worth of the land as at least 75.000 USD.
Are you obtaining Turkish citizenship through Land investment in Istanbul?
Yes, You can obtain Turkish citizenship through land purchase, but you must ensure you buy more than or equal to 400.000 USD worth of land. And Expertise report must mention the worth of the land as at least 400.000 USD.
Why should I use a real estate agent?
1. A real estate agent can access the best properties and market expertise.
2. A real estate agent drives you through Istanbul to get you the best options. And also, make your journey worth it full of excitement by visiting your beautiful visiting sites and excellent restaurants that have tasty foods.
3. A real estate agent is skilled at bargaining, obtaining the best deal, and securing your finances.
4. A real estate agent can fix problems with the purchase agreement. They ensure that inspections and repairs are finished on time.
What is the general buying process?
The process is simple. Following are the general steps of buying :
- Once you like the property, we pay a 1% booking amount to hold the property for 14 days and sign the agreement mentioning the exact date of the total amount of transfer.
- On the same day, the amount transfer pre-appointment is being arranged with the Title Deed office where the seller representative or seller is present to transfer the property in your name. If unavailable, your lawyer can act on the buyer’s behalf, who will be authorized to sign on your behalf and make the property in your name. For more detailed information please follow the buying process.
What documents are required?
- Translated Passport
- Passport Size Photographs
- Tax Number
- Official Amount Transfer document
Are there English-speaking lawyers in Istanbul?
Yes, There are not a few who buy many English-speaking lawyers in Istanbul. However, in line with the extensive services, we also provide English-speaking lawyers to our customers and follow up on each case. The lawyer is involved in the complete purchasing process until you get the title deed.
And in case you want to apply for Turkish citizenship. So the lawyer will be with you until you get the Turkish Id cards and Passports.
How long does it take to finish buying land in Istanbul?
Once the title deed is transferred from seller to buyer, buying land is finalized. So it depends upon the buyer when they can move the agreed purchase amount. Then, the appointment can be arranged on the same date, and Titledeed can be transferred.
How much does it cost per square meter on average?
The average cost per depends on the district in Istanbul. And Even in districts, it can differ from 60 USD per sqm to 250 USD per sqm. This is because it relies on the type of land and construction.
How can I be protected against exchange rate movements?
Foreign Investors are afraid because their money is in USD. And they assume that ROI will be high in Lira but the same or less in USD after investing in Turkish Lira. However, this is untrue because the Turkish market is changing with the fall of the Turkish Lira. The Turkish market mostly parallels the USD, specifically in luxury goods such as cars and properties. In this case, you will always gain USD. But yes, due to exchange rate movements, an investor might be disadvantaged in rental returns if rented yearly. Suppose the apartment has been leased out in Turkish Lira.
Why should I buy my land from Option One Property?
Option One property will hunt down some of the most excellent deals in Istanbul. We ensure that you invest in lands that will be highly profitable in the future, not just by words but with a complete feasibility report. Lands business can be tricky. Therefore, you need an expert guide in your buying land journey. We not only help you buy your dream land but follow up the complete process of sales and aftersales.
Patience is critical in buying land. First, buyers must be ready to listen and comprehend what is being guided to them regarding the future forecast of the land. And the next step is to wait for future government and private development announcements to take place. And then further decide to sell or wait for it to happen. That is the customer’s choice. In any way, we are always available to have a lengthy discussion on a long-term basis with our client.
If you still have questions about land investment in Istanbul. Our experts are happy to answer them and provide recommendations.
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