Turkish real estate market

The most important issue for those planning to buy property abroad is choosing the right real estate agency.

The most important question for those who are planning to buy property abroad is to choose the right real estate agency. The success of a purchase and sale transaction depends on a realtor who knows the local market well, has extensive experience and numerous connections, and is well versed in the intricacies of national real estate legislation.

It should also be noted that not everyone who calls himself a realtor has the necessary knowledge and skills. For example, according to official data, about a thousand real estate companies are registered in Istanbul alone, of which only 10% actually work.

One of these agencies is headed by our compatriot Nazlı Sadıgova, who has been working in Istanbul for more than 10 years, helping clients from Europe and the former Soviet Union to find the property they want.

• Ms. Nazlı, could you tell us briefly about the agency you run?

• Our agency has been working in the real estate market of Istanbul for more than ten years. We work with the entire range of real estate: apartments, villas, commercial properties, including hotels and land plots. In short, we are ready to help every buyer who is going to buy a property in Istanbul. Our catalogue contains more than a thousand objects located in different districts of Istanbul (you can read about the districts of Istanbul here). Our managers and lawyers will provide support for the implementation of the purchase and sale of any object.

For those who want to do business and do business in Turkey, we can help you create a company, solve accounting and legal issues. We have partners who are engaged in relevant work in all major cities of Turkey.

In addition, we provide all possible assistance in obtaining a residence permit, work permit and citizenship.

• Some foreign buyers, planning to buy property in Turkey, rely only on their own strength.

• I would advise these buyers to be careful because only in government agencies the procedures for obtaining a permit, signing a contract, and obtaining a tapu (proof of ownership) sometimes occur at different times. Buying apartments in residential complexes under construction also implies a certain long-term relationship between the seller and the buyer. This, of course, involves certain risks. The agency's reputation and credibility can reduce these risks. After all, in a well-written contract, the agency acts as one of the parties and guarantees the protection of the rights of other participants, as well as the correctness and reliability of the documentation process. At least, such work is organized in our agency.

• Among buyers of real estate (and not only in Turkey), but there is also an opinion that realtors raise prices by cheating on transactions and thereby increasing their profits.

• Of course, there are realtors who do this and "burn tears in the fire". This cannot be denied. However, I must say that such cases are very rare in Istanbul recently. No matter how science and technology develop today, no matter how the channels for attracting clients expand, the main source of clients for a professional realtor remains satisfied buyers and sellers.

However, the marketing tools we use allow us to work effectively and maintain reasonable prices for our customers.

For example, we have extensive partnerships with major construction companies, and the contracts we have signed allow us to sell their properties at their own prices. Our profit is not an increase in prices, but discounts that we receive as bona fide partners. And for our clients, there is no difference to buy housing from us or directly from the company that builds the complex. In addition, we can offer more options according to their wishes, their lifestyle. Here, too, we must not forget about saving time, which is one of the main factors.

In addition, we also offer after-sales service and assist the owner in renting out or managing the property.

• Can you provide more details about after-sales service?

• The relationship between the clients and our agency does not end after the closing of the purchase and sale transaction.

People who do not know the local market, not only have to equip their home, but also go to the usual furniture stores, and the selection process becomes so difficult. We recommend them the most affordable and high-quality hardware and furniture stores that match their budget, as well as help with discounts and delivery, if necessary. Our managers have extensive experience in the Turkish real estate market and are fluent in Azerbaijani, Turkish, Russian and English. All of them are from the CIS countries, so they are well aware of the wishes and wishes of our customers.

If the buyers decide to rent out their property, we also manage it. We can track rental payments, expenses, and other costs of real estate purchased for investment purposes. In the process of transferring the apartment to the tenant, we identify the existing contradictions, losses, and residual debts. In short, we not only sell real estate but also try to be friends and helpers for our clients.

Is it worth buying a property in Istanbul, how much does it cost to maintain it? You can read about this in an interview with Rufat Mammadov, who recently became the owner of real estate in Istanbul, on the website remart.az 

Foreign citizens usually prefer resort areas when buying real estate in Turkey. And Azerbaijanis most often buy real estate in Istanbul.

Let's get acquainted with the opinion of our interviewer about what is the advantage of this city for Azerbaijanis and about the course of life in the metropolis.

• Rufat bey, tell us about your home in Istanbul.

• In Turkish, this is a 2-room apartment, and in our language, as we are used to, a 3-room apartment. The total area of the apartment is 105 sq. m, the living area is 80 sq.m. It is located in a new building near the city center, in the Beylikduzu district. This area belongs to the European part.

• How did you decide to become an apartment owner in Turkey? Why Istanbul?

• I am a dentist by profession, and my student life here has passed. And from the point of view of relations between our countries, I was very comfortable here. As well as registration at the place of residence, registration of documents, etc. it is very convenient to solve here. In particular, the reason I chose Istanbul was my passion for this city.

• Have you had any ideas about using your property as an investment?

• I'm not thinking about it right now. Everything depends on how we will build our life here, how the issues of work and education of children will be resolved. For example, if I move to work in an area of another city, I can rent out this house and rent a property closer to the place of work.

• How did you search for an apartment? Provide information about the selection process.

• We started thinking about buying a property a year ago. At first, we searched the internet, just like everyone else. Then we arrived in Istanbul for 10 days and started searching on the spot. Not finding anything suitable, we returned to Baku. Then we contacted Ms. Nazlı on the recommendation of friends who had bought a property in Istanbul. From here, we conveyed all our wishes to her. She prepared the options for us, then we went back to Istanbul and made our final choice. We paid the deposit, started the initial documentation, two weeks later fully paid the cost of the apartment and received the right of ownership.

• What do you like? What do you disagree with?

• From the positive points, I can say the location of the Baylikduzu district. It is located close to the sea and is characterized by calmness compared to other regions. There is no building density here. And our main desire was a quiet and open space. At the same time, I liked the apartment plan, the complex itself, and the conditions created for the residents.

From the cons, I can say that since Beylikduzu is a relatively new area, it is likely that many new buildings will be built here. Our building is located on the first page, and for me, there is no danger that the view of the sea will be blocked by another building. But those of our compatriots who want to buy a house in this area must take into account this factor.

It's hard to get around in this area without a car. Metro and bus stops are also located a little further away. I think that as the district develops, infrastructure issues will find their solution.

• Have you bought a renovated apartment?

• Apartments without repairs are not for sale here at all. The apartments are renovated and equipped with kitchen furniture. We bought all the other furniture ourselves. By the way, Ms Nazlı has been very helpful in solving these issues.

• Provide information about the cost of maintaining the apartment.

• Monthly maintenance costs of $ 20 and $ 70 per year for earthquake insurance. The costs of light, water, and gas are high. It turns out from 60 to 100 dollars a month. It also depends on the thrift of the family.

• How are your relations with your neighbors developing?

• Very good. We communicate very comfortable with our neighbors, Turkish or Russian, as there is no language barrier. Sometimes we also work as translators between Russians and Turks.

• What is the food situation? See what's wrong?

• I wouldn't say. In our area, there are markets of all categories. Also, once a week in Istanbul, a “market day " is held, when you can buy fruits and vegetables in the markets with big discounts. If we compare it with Azerbaijan, it all depends on the product category. For example, meat and dairy products in Turkey are inexpensive, vegetables and fruits are cheap, but some are very expensive.

• What is the difference in lifestyle?

• As the biggest difference, I can say that the Turks have lunch and dinner in most cases in cafes and restaurants. Since Istanbul is a multi-ethnic city, it is necessary to take into account a completely different local flavor here.

• What advice would you give to those who want to own real estate in Turkey?

• When I first came here, I made a lot of mistakes. In the pursuit of almost every taxi driver-a, broker-I lost money, nerves and time. Minimize the risks, do not engage in amateur activities. It is best to directly contact a qualified real estate agent directly and instruct them to search for a property.

 

___________________

Nazlı Sadıgova,

Your reliable representative in the real estate market of Istanbul.

To call:

Office in Istanbul:

+90 212 942 82 29,

+90 532 632 04 74

Office in Baku:

+99450 289-11-09

http://nazlisadigova.com

Email address: [email protected]

 

 

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