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Buy Commercial Property in Istanbul

Istanbul continually strives to rank among the top business hubs on the globe. Another indication that people are gradually recognizing is the rise in commercial property sales in Istanbul. There are many factors involved in this growth. The government's initiatives to promote investment, the wide variety of commercial property in Istanbul, and the industry's high profit potential stand out as the most important ones. We at Vartur Real Estate are here to help you with any and all property-related inquiries, and we can provide you with listings not just in Istanbul but in other major cities as well. Our company is engaged in the business of selling real estate both in Turkey and in Dubai Real Estate.

Is Commercial Property in Istanbul a Good Investment?

There are many benefits to buying a commercial property in Istanbul. The most important thing is becoming a Turkish citizen if the business is worth more than $250,000. In any case, renting out a commercial property in Istanbul real estate can yield a 5% annual return on investment. Additionally, the value of the advertisement will increase by 10% each year. Because it is at the crossroads of Europe and Asia, Istanbul has always been an important economic center. Istanbul real estate has long been regarded as an excellent investment option. We can say that the city has been an important place for business for a long time. This goes even back to the Silk Road and continues with architectural masterpieces! Its position raises the value of commercial brands because it makes global trade more manageable and makes its customer base more diverse. This is the same as running a business in Istanbul that draws customers from all over the world.

Is Buying Commercial Property in Istanbul a Good Investment?

Buying commercial property in Istanbul is a perfect idea for investors who place a high value on return on investment (ROI). It is common knowledge that, compared to residential homes, commercial properties in Istanbul offer more elevated and more reliable revenue. The majority of businesses and investors that use space in shops and offices have long-term rental agreements, so the likelihood of them falling behind on their payments is unlikely. Investors should be aware that commercial properties in Istanbul are only suitable for business use and cannot be used for personal purposes in Turkey real estate. So the investors who buy commercial properties in Istanbul have only two options: they can either use these spaces themselves or rent them out. Like Istanbul apartments, commercial properties in Istanbul will gain value over time and bring in money when rented out, especially in a popular area.

Can Foreigners Buy Commercial Property in Istanbul?

Foreigners can buy property in Turkey that they can use as a home or place of business, as long as they follow the law. In Turkey, any foreign investor can own a commercial building. If you own property and find out that you can make a lot more money with commercial property, it makes sense that you would want to rent or sell your property in this way. However, your property's potential for commercial usage differs.

How to Buy Commercial Property in Istanbul?

  1. Take your time to identify your spending limit and the best payment schedule in advance. By doing this, you will avoid endless alternatives across the metropolis and concentrate on appropriate possibilities.

  2. Even if you are willing to buy commercial property in Istanbul at the heart of the city, try to choose those in developing districts instead. The reason is that they will increase in value more quickly.

  3. Give priority to commercial buildings in Istanbul that are inside of compounds because they have competitive advantages, pre-existing clients, and are simpler to rent out quickly.

  4. Instead of managing and leasing the property, when you give preference to buying commercial property in Istanbul that is already rented out or that has local managing partners, makes you save time and effort.

  5. Always do your research on the developers, including their track record, reputation, and building quality.

  6. Always look into any additional costs, such as administration, upkeep, and title deed fees. To prevent any unpleasant surprises in the future, you must consider these fees.

  7. The following types of documentation are required in order to purchase commercial property in Turkey:

  • One photograph of the foreign individual must be attached to their "Identity Declaration Form" with their national identity card or passport, along with a document translation if required.

  • In the event that the transaction involves representation, the document pertaining to the representation

  • If there is one, the title deed to the piece of the commercial property in Istanbul

  • Report on the value of the property that has been authorized by the CMB (Capital Markets Board of Turkey)

  • The policy of required earthquake insurance for buildings

  • In the event that a party does not understand Turkish, there should be a sworn translator present.

Prices for Commercial Property in Istanbul

  • The first and most important thing that affects the price of commercial property in Istanbul is its location. Whether it is in a bustling residential neighborhood or a prime spot on a posh boulevard, the location will impact the demand, the rental rate, and ultimately the price of the commercial property in Istanbul.

  • The size, age, and construction quality of the commercial property in Istanbul all play a significant role in how much the property costs. Due to their higher rental value, commercial property prices in Istanbul are frequently higher than residential property prices in Istanbul.

  • Following the transfer of the property, foreign investors will be responsible for the following taxes and duties:

  • First, you will pay income taxes and property transfer fees. You must pay this tax if you want to use Turkish commercial property for business purposes. Although it's only the buyer's tax and stamp duty (ranging from 0.15 to 0.75% of the purchase price), it's still a significant amount.

  • Each year, taxpayers can make a partial payment at the beginning of the year and a total price at the middle of the year.