property in Istanbul or Dubai?

property in Istanbul or Dubai As soon as the idea of ​​buying a property arises, a group of questions begin to come to the investor’s mind, due to the multiplicity of global real estate markets.

The Istanbul and Dubai real estate markets represent the most attractive markets for investors in the world.

Which is better, buying a property in Istanbul or Dubai?

vantages of buying a property in Dubai:

• The UAE city of Dubai is a global real estate and investment destination.
• Various segments and citizens of Arab and foreign nationalities live in Dubai.
• Dubai is a developed city, urban, cultural and technological.
• Dubai was founded in 1833.
• The reconstruction of Dubai began coinciding with the establishing of the United Arab Emirates in 1971.
• Foreigners constitute 92% of Dubai’s population.
• Emirati citizens and foreign residents are equal in terms of rights and duties.
• Ease of obtaining a Dubai visa for many nationalities.
• There are many types of Dubai real estate, including residential properties such as apartments and villas and commercial properties such as offices and shops.
• Dubai real estate enjoys beautiful views of either the beaches of the Arabian Gulf or the city, towers, skyscrapers and main roads.
• Most of Dubai’s modern real estate is built within real estate complexes.
• which means it includes various services that meet the needs of residents.

Disadvantages of buying a property in Dubai

• Dubai real estate is affected by political and economic factors.
• There are high costs for buying a property in Dubai, as in addition to its price.
• there are registration fees, title deed fees, and real estate taxes.
• Dubai real estate prices are high compared to the markets of many international countries.
• Unfortunately, Dubai’s weather is hot most of the year, which is considered an impossible problem to solve.

What are the conditions for buying a property in Dubai?

• Foreigners are allowed to buy property only within areas specified by the government.
• The necessity of registering the property with the Dubai Land Department.
• Pay taxes and financial fees when buying an apartment in Dubai, such as Land Department fees, property registration fees, property evaluation fees, mortgage loan fees, and mortgage registration fees.
• The seller of the property must attend the Land Registry Directorate when the ownership transfer process is carried out.
• The law allows the presence of someone representing the seller under an official power of attorney.
• Paying financial dues related to the seller, such as taxes, real estate brokerage fees, etc.

What is the price of real estate in Dubai in 2024?

There are several direct and indirect criteria and factors that determine Dubai real estate prices.

The following table shows average real estate prices in Dubai for the year 2024:

property in Istanbul or Dubai

Advantages of buying an apartment in Istanbul

• The Turkish city of Istanbul extends between the continents of Europe and Asia.
• One of Istanbul’s most important tourist and international landmarks is the Bosphorus Strait.
• Istanbul has moderate weather throughout the year.
• The diversity of natural features in Türkiye, including seas, lakes and forests.
• Istanbul is an ancient city, and dozens of historical monuments attest to its antiquity.
• Istanbul real estate is diverse, including apartments, villas, shops, offices, hotel apartments, hotels, and lands.
• Low real estate prices in Istanbul compared to Dubai real estate and European real estate.
• Turkish laws grant foreigners the right to buy a property in all areas of Istanbul
• The law allows citizens to own property
• 183 countries around the world.
• Istanbul properties overlook the Sea of ​​Marmara, the Black Sea, forests or the city.
• Property buyers in Istanbul obtain real estate residency in Turkey provided that its value is not less than $200,000
• The possibility of obtaining tax facilities and exemptions under certain conditions.
• Diversity of real estate investments in Türkiye between renting or reselling.
• Real estate investment in properties under construction and ready properties.
• Acquiring Turkish citizenship when purchasing a property in Türkiye worth $400,000.

Disadvantages of buying a property in Türkiye:

• Istanbul real estate prices are the highest ever compared to real estate in other cities.
• It is necessary to obtain security approval if the investor is the first foreign buyer of a property within a real estate complex.
• The inflation index has risen in Türkiye and the value of the Turkish currency has declined in recent years.

What are the conditions for buying a property in Türkiye for foreigners?

The foreigner must not be one of the nationalities prohibited from buying a property in Türkiye.

• The area of ​​real estate owned by a foreigner must not exceed 30 hectares.
• The area of ​​real estate within one municipality does not exceed 10% of its area.
• The property must be approximately 400 meters away from security and military centers.

How much is the price of a property in Istanbul in 2024?

Turkish real estate prices vary depending on several factors

Including location, area, building quality, view, area, style, etc.

The following table shows the average prices of Istanbul real estate for the year 2024:

property in Istanbul or Dubai