Buying apartments in installments in Istanbul is one of the investment projects through which entrepreneurs achieve significant profits, especially those with limited budgets. This method involves spreading the cost of the property over several payments across a number of years, as agreed upon in the sales contract.

If you want to learn how to buy an apartment in installments in Istanbul, Skyline Real Estate will introduce you to the essential conditions and required documents. We'll also cover the legal ways to purchase apartments in installments in Istanbul.

We wish you an enjoyable and informative read.

Conditions for Buying Apartments in Installments in Istanbul

Many investors are keen to buy apartments in installments in Istanbul, considering it is the largest Turkish province and one of the most vibrant and commercially attractive cities in Turkey. Situated between Europe and Asia, Istanbul’s strategic location positively impacts its projects and establishments.

Regarding the conditions for buying apartments in this city, there are no specific requirements imposed by Turkish law on investors, except for one: preparing all necessary documents. This is to save the investor time and effort during the process of transferring property ownership. The required documents include:

• A copy of the property's title deed (Tapu).
• A property registration statement obtained from the municipality where the property is located, indicating the property's location and tax number.
• The investor's passport, translated into Turkish and notarized.
• Four personal photos of the investor.

Read also:

• New Amendments to the Turkish Citizenship Law through Real Estate Investment
• Dual Citizenship in Turkey

Methods for Buying Apartments in Installments in Istanbul

There are three safe and legal methods for buying apartments in installments in Istanbul:

Buying an Apartment in Installments through a Real Estate Company

In this method, the apartment is purchased directly from the real estate company, and the sales contract is directly between the real estate company and the new owner. The contract includes clauses that organize the sale process legally, indicating whether the apartment is ready for delivery or still under construction. The contract also specifies the delivery date if the apartment is not ready and the payment method. Typically, the buyer pays about 30% of the property's value as a down payment, with the remaining amount distributed over agreed-upon installments.

Buying the Apartment in Installments via a Bank

This method involves obtaining a loan from a Turkish bank for the value of the apartment. The bank then purchases the apartment on behalf of the buyer, registering all information in the investor's name and noting that the apartment is mortgaged to the bank until the full amount is paid. Once the payments are completed, the mortgage is lifted, and the investor can legally own the apartment without restrictions.

This method is notable for its lower monthly installment payments compared to other methods, with repayment periods often starting at 5 years and extending up to 10 years. However, it tends to increase the overall cost of the property.

Buying an Under-Construction Apartment in Installments

This is a suitable option for individuals with limited income looking for affordable apartments in installments in Istanbul or those seeking long-term property ownership. They can find their requirements in projects still under construction, which often have lower and more attractive prices. Many investors prefer this method as they can sell the apartment after the construction is completed, yielding substantial profits.

Where to Find Apartments in Installments in Istanbul

Turkish and foreign investors can buy apartments in installments in Istanbul, known for its vibrancy and dynamism. Real estate investment in the city is highly profitable due to its many attractive features. The most popular areas for buying apartments in installments in Istanbul include:

Başakşehir Area

Located in the European part of Istanbul, Başakşehir is known for its modern urban organization, extensive green spaces, and proximity to Istanbul’s new third airport and the new Istanbul Canal. It offers a serene environment suitable for living, with numerous services such as health, educational, and entertainment facilities, and public transportation.

The cost of apartments here is lower than in other parts of Istanbul. For instance, a three-bedroom apartment in central Istanbul costs around $200,000, whereas in Başakşehir, it costs approximately $170,000 with potentially better quality.

Beylikdüzü Area

This modern area in the European side of Istanbul overlooks the Sea of Marmara and Büyükçekmece Bay. It is known for its tranquility and elegance, attracting those seeking a peaceful living environment away from the bustling city center. Beylikdüzü offers extensive green areas and numerous modern residential projects providing all necessary services and amenities.

Apartment prices in Beylikdüzü for a 100 square meter apartment range from $75,000 to $180,000, with an average price of about $400 per square meter, depending on the apartment’s location and view.

Esenyurt Area

Located in the western European part of Istanbul, Esenyurt lies between the main highways E5 and E80, which connect to all roads leading to Europe and other Turkish provinces, enhancing its investment importance. Esenyurt is home to various Arab communities, making it feel like a little Arab country with different dialects.

The average price for a 100 square meter apartment in Esenyurt ranges from $60,000 to $150,000.

Read also:

• Apartments for Sale in Taksim Square Istanbul
• Apartments for Sale in Kadıköy Istanbul

In conclusion, we have covered everything you need to know about buying apartments in installments in Istanbul, including conditions, required documents, and available methods. For more details, feel free to contact us at Skyline Real Estate.