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Investment Properties in Turkey

Investment Properties in Turkey

Turkey is among Europe’s finest attractive real estate markets and among the best places for investment in properties, as it is focusing on its advantageous location to attract foreign investors. Turkey, ideally positioned at the intersection of Europe, the Middle East, and Central Asia, with a population of 83 million people, provides excellent potential for real estate developers and investors who are willing to invest in properties in Turkey, by integrating a heavy construction industry alongside expanding urban and business production.

Every passing year Turkey is noticing a huge breakthrough in its real estate market since the country provides the most beneficial profits to investors. By drawing the attention of international investors as the sole profitable investment option, the Turkish real estate market gives investors 150 percent earnings. In the following parts, we will go over all of the specifics of real estate investing in Turkey.

  • How to Choose a Real Estate Investment? 

How to Choose a Real Estate Investment

There are a few things to think about before an individual starts the process of investment properties in Turkey. The stages to selecting a real estate market include initially deciding on a city and then locating the ideal area in which to purchase a house. Many of the finest areas to invest in share the same traits.

According to the growing regional market of the real estate market, it will be simpler for an investor to select a convenient option in such a place where he/she may rent or sell the apartment. Factors that should be considered while investing in Istanbul real estate are:

  • Rental Returns

In Turkey, rental units are a common type of investing in real estate. Real estate is a reliable source of consistent income, with rental income ranging from 8 to 11 percent compared to 2-4 percent for residential real estate. Commercial real estate management is cheaper and easier than residential property management. This needs less administration because these assets are cared for by experienced project maintenance companies.

A further advantage is that the landlords don’t get to spend money on renovating the property because the renters would furnish it according to their preferences and needs. Short-term rentals are favored for residential property, whereas a 3+3+3-year contract with a preset rent increase is negotiated for commercial property.

  • Financing

Before investing in a property in Turkey, the investor should be aware of the budget and how much he/she is prepared to invest in a property.

Financial institutions in Turkey provide mortgages for real estate investment, however, the conditions and rates vary depending on the property type. Banks make it simpler to obtain funds for a residential property that is worth at least 90% of the property’s value. Credits for commercial property, on the other hand, are significantly more difficult to obtain, and only 60% of the property value is guaranteed.

The interest rate is substantially higher and is only appropriate for an investor if there are sufficient funds available. Still, if an investor has a limited amount of money, it should be better to invest in residential real estate.

  • Re-Selling the Property

Selecting the ideal investor is a time-consuming and difficult process when leaving or disposing of real estate holdings. If an investor has invested in a commercial property in a certain industry, the economic situation will have a big impact on the commercial property. And whenever the market will be slowed down, it might be difficult to locate a purchaser and sell the property.

An investor may even have to make certain concessions, such as on rent. In contrast to the residential unit, there is one potential with commercial real estate: it may be sold partially

  • Rental demand

Evaluating the market is essential for real estate investing in Turkey, as it is in every sector. It is critical to ensure that an investor targets a market with consistent rising rental demand, also, it should be understood of the target audience if we do not want to halt cash flows.

When assessing real estate rental requirements, turnover rates, days on the market, population increase, and the number of rental properties vs. current inventories must all be considered.

  • Exchange Rate

If you wish to make a real estate investment in Turkey, you need also consider the growth and fall of the Turkish Lira. The exchange rate between foreign currency and the Turkish Lira will mostly benefit the investor’s purchase.

When trading in the Turkish lira in return for the investor’s money, time is critical since the Turkish currency has dropped 30% of its value in a year, giving indirectly a 30% discount. As a result, investing in Turkish real estate is crucial while the Turkish Lira is low.

  • The Importance of Location in Real Estate Investment

The Importance of Location in Real Estate Investment

Because of the numerous advantages, real estate is a great alternative for diversifying financial assets. It is also critical to take all the time needed while selecting and purchasing the perfect property that will give a future financial performance.

When looking to invest in real estate, the investor must consider the property’s growth in value, which is decided by how enticing it appears to prospective buyers. If one intends to rent out the home for general revenue, the location is critical. Individuals choose residences that are nearer to their workplaces or have a shorter commute to other locations

Obviously, any property will be in more request if it is near to central locations. It is also advantageous to invest in property in such a region that will increase in value in the future owing to infrastructural projects in order to generate significant profits quickly.

Nevertheless, for others who like peace and quiet, the loudness and traffic might be a deterrent. When determining home alternatives, it is also important to consider proximity to facilities such as stores, restaurants, cafés, gyms, and family tenants. People are more likely to be attracted if the schools are close to the property.

When investing in real estate, take into account that the investor should also be seeking a prospective renter. Investing in a growing neighborhood will enable the buyer to achieve his/her long-term investment strategies.

  • When is the Best Moment to Invest in Real Estate?

When is the Best Moment to Invest in Real Estate

Location is an important consideration for many individuals when investing in real estate. Time is also an important consideration in investing decisions since it can affect the long-term sustainability of an investment.

Because an investor may be required to pay a down payment ranging from 3% to 20%, the optimal time is when the monetary sustainability is respected. The investor will also be responsible for closing charges ranging from 2% to 5% of the purchase of the property. Aside from these costs, there will be monthly payments, real estate taxes, insurance, utilities, and so forth. Financial stability is required to cover these costs and prevent debt.

Before making a purchase, the investor should carry out research to reduce risk and optimize return on investment. First and foremost, one should do a real estate market study of the area in which you intend to invest, Furthermore, after identifying a neighborhood and selecting classified or off-market properties, rental property study will be needed. Ultimately, property expertise is required to discover flaws in the property.

Before purchasing, the season and time of the year should be taken into consideration also. For instance, because there are fewer purchasers in the marketplaces during the winter, prices tend to fall.

This is where real estate companies and their expertise, such as ours in Panorama Property, will provide all the necessary help since we do have experience in the field and a big network with construction companies’ portfolios.  

In the best investment projects, buying apartments in Istanbul turkey remains a preferred option for investors.

 

Some Highlights and Numbers about Real Estate in Turkey

Some Highlights and Numbers about Real Estate in Turkey

  • Foreign Direct Investments fluxes stood at 7.8 billion dollars, real estate represented 4.4 billion, only real estate had a total share of 57% of Foreign Direct Investments
  • In the coming years, urban regeneration and massive projects will monopolize the scene, especially in Istanbul. Marmaray, the Yavuz Sultan Selim Bridge, the Eurasia Tunnel, and Istanbul Airport are among the city’s initiatives.
  • 7.5 million residential units will be included in the Metropolitan Rehabilitation and Development plan. The plan has a USD 400 billion budget, with the business sector contributing significantly.
  • In 2020, the overall number of properties purchased in the Turkish real estate market surpassed 1.5 million units; similarly, sales of real estate to foreigners began to expand following the repeal of the reciprocity law in 2012. In Turkey, 40,812 properties were sold to foreigners in 2020. With 19,175 sales to foreigners in 2020, Istanbul was the top-performing province, followed by Antalya with 7,735 sales, Ankara with 2,746 sales, and Bursa with 1,340 sales.
  • By the end of 2020, Istanbul’s current Grade A office stock would have topped 5.6 million square meters. More than 1.7 million square meters of office supply, such as the Istanbul International Finance Center (IIFC), were under development, and the total grade A office supply is anticipated to reach about 7.4 million square meters gross leasable area by the end of 2022.
  • In 2020, the overall industrial real estate output in Istanbul and Kocaeli was 10.2 million square meters. In 2020, 318,000 square meters of logistics rental agreements were completed, nearly tripling the number from the previous year’s conclusion.
  • In 2021 Turkish citizenship by investment increased by 44%, the nationalities who were most interested in Turkish citizenship were: Egyptians, Germans, Iranians, and Russians.

 

We, in Panorama Property, hope this information is useful, and we are so proud to be your first choice for a secured and guaranteed investment in Turkey. We are also proud to be the only company that provides you with all these services for the best price and quality. 

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Esenyurt

esenyurt

Esenyurt is a district of Istanbul Municipality and a component of Istanbul’s metropolitan city. Esenyurt is situated on Istanbul’s European side, bordering Avcılar and Lake Küçükçekmece on the east, Büyükçekmece on the west, Başakşehir, Arnavutköy, and the TEM road on the north, and Beylikdüzü and the E-5 expressway on the south. The region has had its own council since 1989 and has a length of 2.770 hectares.

Esenyurt Istanbul is one of the modern areas that is witnessing a great urban renaissance. Many major construction companies are currently constructing distinguished projects with great specifications and are classified as excellent investment projects because they will witness a significant rise in prices after the opening of the subway stations that are currently being worked on. 

Among the investment projects Recommended by Panorama Property we can find: 

Esenyurt has gained from an important development as a result of the recent property bubble of huge housing developments in the neighborhood. Esenyurt Cultural Centre, Saadetdere Cultural Centre, Yenikent Cultural Centre, and Yunus Balta Cultural Centre are its four cultural centers. Between many structures are four parks erected in Esenyurt (Recep Tayyip Erdoğan Park, Şehitler Park, Gaziler Park, and Kadir Topbaş Park).

The Esenyurt region was largely developed on property belonging by Ekrem Ömer Paşa in the mid-1800s. The term Esenyurt is derived from the name of one of the proprietors, Eşkinoz. Between 1920 and 1938, the area saw immigration from Romania and Bulgaria, and more recently, immigration flux from Ardahan and Kars, as well as Erzurum and Artvin.

Esenyurt is a famous living neighborhood because of its brand-new housing developments and low property costs in comparison to Istanbul’s center. Esenyurt is linked to Istanbul Esenyurt University, as well as Beykent University, Istanbul Arel University, Istanbul University, and Istanbul Gelişim University. The TUYAP Exhibition and Conference Centre is about 5 kilometers from Esenyurt Center and 26 kilometers from Istanbul Atatürk Airport. Instead of small stores through the alleys, commercial facilities are mostly concentrated within shopping malls. Esenyurt features three shopping malls: Eskule Shopping Mall, Torium Shopping Mall, City Center Shopping Mall, and Akbatı AVM.

You can find many apartments for sale in Istanbul: Contact us to get the best offer

Transportation in Esenyurt

Transportation in Esenyurt

  • Buses from and to Esenyurt

      • 142E Esenyurt Incirtepe – Aksaray
      • 142K Esenyurt Kiptaş 4. Etap- 5. Etap- Avcılar
      • 142T Esenyurt Public Hospital – TUYAP Exhibition and Conference Centre
      • 429 Kıraç – Yenibosna Metro
  • Metrobus lines from and to Esenyurt

    • 34 Beylikdüzü – Avcılar
    • 34 Beylikdüzü – Zincirlikuyu (operates 24 hours)
    • 34 Beylikdüzü – Cevizlibağ
    • 34 Beylikdüzü – Söğütlüçeşme (operates 24 hours)

Educational Institution in Esenyurt

 

Esenyurt Municipality Region is home to a plethora of academic institutions. Esenyurt’s schools, universities, and other educational institutions are listed below.

  1. Esenyurt Universities

Esenyurt Universities

  1. Istanbul Esenyurt University
  2. Beykent University Campus Hadımköy
  3. İstanbul Rumeli Üniversitesi Esenyurt Uygulama ve Araştırma Yerleşkesi
  4. Süleyman Şah University
  1. Esenyurt Kindergarten
    1. Özel Haramidere Sınav Koleji Kindergarten
    2. Özel Ender Gül Kindergarten
    3. Özel Bahçeşehir Bilge Yıldızlar Kindergarten
    4. Özel Esenyurt Özgür Düşler Kindergarten
    5. Özel Final Okulları Milpark Kindergarten
    6. Özel Esenyurt Mavi Umut Kindergarten
    7. Özel Beylikdüzü Vatan Okulları Kindergarten
    8. Özel İlkin Eğitim Kindergarden
  2. Esenyurt Primary, Secondary and High SchoolsEsenyurt Secondary and High Schools

    1. Istanbul – Esenyurt Cumhuriyet Primary School
    2. Esenyurt Fevzi Danış Primary School
    3. Esenyurt Şehitler Primary School
    4. Esenyurt Osman Gazi Primary School
    5. Mahir Gurlek Primary School
    6. Fahr Secondary School
    7. TED Atakent Koleji Esenyurt Kampüsü
    8. Nihat Delibalta Primary School
    9. Bil Koleji Esenyurt Kampüsü
    10. Özel Eğitim Bilimleri Secondary School – Esenyurt
    11. Mustafa Yeşil Secondary School
    12. Emine Seviye Divrik Primary School
    13. Ali Fuat Üstün Primary School
    14. Belma Barut Primary School
    15. Bakyapı Primary School
    16. Istanbul – Esenyurt Yenikent Primary School
    17. NECİP FAZIL KISAKÜREK Secondary School
    18. Esenyurt Secondary School
    19. Vahit Sura Tanrıverdi Primary School
    20. İstanbul – Esenyurt Mehmet Akif Ersoy Secondary School
  3. Esenyurt Language Schools
    1. Esenyurt Amerikan Kültür
    2. English Time Esenyurt | Esenyurt İngilizce Kursu
    3. Kare Bir Özel Yabancı Dil Kursu
    4. Esenyurt Dil Park
    5. Let’s İngilizce

What is the distance between Esenyurt and Main places in Istanbul?

What is the distance between Esenyurt and Main places in Istanbul

Esenyurt is 28 km away from the Al-Fatih and libraries for Arabic books, which began to gain popularity among the Arabs in Turkey, believing in the importance of preserving the Arabic language and teaching it to their children.

Esenyurt is about 5 km away from the Marmara Sea. The tall buildings reveal beautiful seascapes, especially the movement of ships at night and day, while they wait for the time to enter the Bosphorus Strait, the only strait that connects the Sea of ​​Marmara and the Black Sea and secures maritime transport between the continents of Asia and Europe.

Esenyurt is 45 km away from the new Istanbul Airport, and there are private bus terminals for the airport in front of Marmara Park Mall. The bus journey takes about an hour or more.

Also, it takes around 40 minutes to reach Taksim, the most important touristic area in Istanbul and the most famous, after Sultan Ahmet and Hagia Sophia. The distance between Esenyurt and Taksim is 38 km.

There is also a metro line under construction that will be opened within this year, at maximum by mid-2023, which will connect Esenyurt to Mahmut Bey, where there will be a direct connection to the M7 line (Mahmut Bey – Mecidiyeköy) and it will be having an extension to Beşiktaş, passing through Fulya, Yıldız, and Kabataş. Thus, Esenyurt will have a direct connection to the main city center, Mecidiyeköy, and its surroundings. The estimated time to reach the terminal station of the metro (Mahmut Bey) will be approximately 28 minutes. The estimated time to Mecidiyeköy is approximately 43 minutes, and to Beşiktaş the estimated time will be around 55 minutes. 

 

We, in Panorama Property, hope you like this article. For more information and inquiries, don’t hesitate to contact us on this number: +905383248772.

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Best Places to Live in Turkey

Best Places to Live in Turkey

Turkey is a great attraction for visitors and expatriates who are seeking a relaxing holiday or a holiday home to stay in. It is a one-of-a-kind nation with surrounded by seas, the Marmara Sea, Black Sea, Mediterranean Sea, and the Aegean Sea, around it and wonderful natural coastlines. The country has many attractions, such as fresh cuisine of all types, a variety of climates, and deep heritage. Turkey is a diversified country with various cultural diversity that coexist peacefully. These characteristics are the primary reasons why Turkey is a preferred destination for foreign visitors.

Turkey is also known to be a big country, with large lands and countryside. Several cities, each one having a unique climate and different mentality, with different kinds of people with their own mentality and lifestyle. In Panorama Property, we will recommend our beloved customers the best cities to live in in Turkey, where they can live peacefully and invest safely. 

Best Cities to Live in Turkey:

 

  • Istanbul

اسطنبول

The first one to be mentioned, for sure, will be Istanbul. The biggest city in Turkey, and among the biggest ones in the world. Istanbul has almost 18 million habitants, 39 districts, each one with its own municipality, with its own mayor, and its own services. 

Istanbul is famous because it is the only city in the whole world that covers 2 continents (Asia and Europe) separated by the Bosphorus canal, where the coastlines provide a pleasing blend of splendor and humble charm.

 

The city is one of the most historical and oldest in the world. Istanbul was the capital of three major civilizations for over 1500 years: the Roman, Byzantine, and Ottoman Empires. It was the heart of Islam for almost four centuries. It possesses the most stunning historical and religious buildings and is extremely rich in cultural treasures. Istanbul is a city where churches, synagogues, and mosques coexist, demonstrating religious tolerance. Istanbul is a perfect blend of modernism and heritage. It is Turkey’s most urbanized town while also being an old city with monuments and structures evoking its glorious history.

 

It has a beautiful history, the beautiful Marmara Sea and the Bosporus, exquisite variety, and educational and leisure amenities to suit all interests. It is an ideal location for families, with higher education institutions for youngsters. It offers a plethora of historical and cultural characteristics, as well as contemporary and all-inclusive residential districts. In Istanbul, you can live in an urban area with a breath-taking view of nature.

Buy an apartment in istanbul

 

  • Ankara

انقرة

Since Mustafa Kemal Ataturk declared Turkey’s independence in 1923, he settled Ankara as its capital. It is the second most populated city in Turkey and an essential economic and industrial center. Unusually, for a city of its size, Ankara has an extremely low crime rate when compared to other European cities. Many cultures and civilizations have called this city, originally known as Angora, home. Ankara is a city of diversity with a rich cultural and historical heritage. The city is also recognized for its distinctive cat varieties known as “Turkish Angora,” as well as the Angora Goat, which produces high-quality and valuable fiber known as “Mohair.” This city is the country’s core and a varied metropolis where many cultures have blended. Ankara’s Citadel is one of the most magnificent sights in Ankara. It has also served as the city’s emblem since 2 B.C. 

 

  • Antalya

Antalya is among the most beautiful cities in Turkey, and personally one of the most beautiful on the Mediterranean coast. It is the most well-known tourist destination, is a lovely place to settle in. It is situated between the gorgeous Mediterranean Sea and the spectacular Taurus Mountains. It boasts many natural wonders and a high standard of living. It features a bright and hot temperature, as well as various healthy food options in weekly markets, as well as a pollution free atmosphere. Antalya’s well-functioning services allow you to live peacefully as a family.

 

Antalya is a Turkish tourist city known as the Turquoise Coast because of its turquoise seas. This lovely town is bordered by hills and mountains teeming with old ruins, breathtaking cascades, and nature trails. Antalya is every explorer’s fantasy city. The Konyaalt beach, which is approximately seven kilometers long and located directly in front of the Taurus Mountains, is one of the most beautiful spots in Antalya. The Antalya Aquarium, which features the world’s largest tube and a variety of marine species, is also close to this beach. It is not only a naturally beautiful city, but it also has numerous ancient monuments and is well-known for its old galleries.

 

  • Alanya

 

Alanya is a modern and densely populated area of Antalya. Foreigners tend to favor it as a place to live. It features gorgeous scenery and efficient services. Being in Alanya alongside your family offers numerous advantages, including everyday travels to beautiful destinations around the district, a diverse climate, and a safe and clean environment, not to forget many beautiful beach days at beautiful coastlines.

 

  • Izmir

 

Izmir once called Smyma, has an 8500-year history. It is Turkey’s third most populated city and the Aegean Sea’s second-biggest metropolitan area. It is the bordering city because it is not just among the most attractive and fertile areas in Turkey, but it is among the highest-ranked cities in the country. The city is one of Turkey’s fourth-largest. An old and antique city has evolved into a contemporary, industrialized, and economically and socially vibrant city. Since ancient times, the town was a major port in the Aegean area, and it is today the country’s second-biggest port. 

It is an old city that functions as an open-air museum. It is a city known for its olives, grapes, and figs. This city is well endowed with natural resources.

 

  • Bodrum

مدينة بودروم

Bodrum is ideal for those who appreciate high-quality living conditions. It is an area with marinas, stunning views of the Aegean Sea, and contemporary homes. Bodrum is a white-blue area with a peaceful, healthy, and safe atmosphere. It has several cultural, historical, and entertainment opportunities.

 

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The Best Banks in Turkey for Foreigners

The Best Banks in Turkey for Foreigners

Banking is one of our necessities in everyday life, despite where you live or what occupation you have, because of the facilities and benefits it provides for handling our finances. Panorama Property suggests opening an account in Turkey if you are intending to buy a property and relocate to Turkey.

 

In Panorama Property we have listed the best banks in Turkey where foreigners can open a bank account, we have ranked them by order, starting from the best bank for foreigners in Turkey: 

 

  • Ziraat Bankası
  • Garanti BBVA
  • İş Bankası
  • AKBank
  • Yapı Kredi Bankası
  • VakıfBank
  • DenizBank

Banks in Turkey

During the last decade, the Turkish Banking system has seen many changes and has gone through major regulations that helped develop this sector, which made It easy for foreign investors to open a bank account in Turkey, despite the fact that they might not have a direct relationship with Turkey. 

 

In Panorama Property we help our customers open a bank account in Turkey, bank accounts can be opened in Turkish Lira, but also in any currency needed or preferred (US Dollars, Euro, … etc.)

It’s a real advantage to open a bank account in Turkey because it will simplify all the payments, money transfers, tax collection, even a property purchase with installment will be easy.

 

We should consider some factors in order to open a bank account in Turkey as a foreign investor, for instance, the first thing a non-Turkish person would have in mind would be “Does this bank have English speakers?”, that would be in case a person doesn’t speak Turkish. Regarding that matter, mostly all the Turkish banks have English speakers, and also, an English interface in their websites, ATMs, and smartphone applications. Also, one of the most frequently asked questions is “Do I really need to open a bank account in Turkey?”, to answer that question we would say it’s recommendable to open it since it will simplify a lot of processes, and it will help you as an investor to put your money in any Turkish bank without facing any problems or obstacles. 

The Best Banks in Turkey for Foreigners:

Best Banks in Turkey for Foreigners

As mentioned above, we made a list of some Turkish banks, here we will describe each one of them: 

  • Ziraat Bankası

Ziraat Bankası is a public bank, founded by Mehmet Sabit Sağıroğlu in 1863, it’s specialized in selling banking services, as well as insurances (like any other institutional bank). Ziraat Bankası has its headquarters in Ankara, with 1.773 branches throughout Turkey as of 2018, with 268 branches only in Istanbul. According to their website, their revenue represented 24 billion Turkish Lira in 2018 and a number of employees of 24.647 employees in total. 

  • Garanti BBVA

Garanti bank was founded in 1946 and has its headquarters in Istanbul. Garanti bank had 49.85% of its share hold by the Spanish bank Banco Bilbao Vizcaya Argentaria (known as BBVA). Their partnership has been agreed upon in 2015. According to their website, Garanti BBVA has 872 in Turkey, 282 of them are located in Istanbul. Their revenue in 2020 represented 42.3 billion Turkish Lira. Their number of employees was 18.636 in 2020. 

  • İş Bankası

İş Bankası was founded in 1924 by Mustafa Kemal Atatürk, the founder of the Republic of Turkey, it’s the largest private bank by the size of its assets and equity. İş Bankası has its headquarters in Istanbul, specifically in Levent, İş Bank Tower 1. It has a total of 1.271 branches, 1.249 are located in Turkey, and 22 are abroad, İş Bankası’s branches are situated throughout Europe, the Middle East, and some Asian countries (Germany, France, United Kingdom, Switzerland, Netherlands, Bulgaria, Northern Cyprus, Russia, Georgia, Iraq, Bahrain, Egypt, Shanghai…) 

According to their website, İş Bankası’s revenue represented 25,4 Billion Turkish Lira in 2019. And their number of employees is 24.053 employees in 2019.

  • AKBank

AKBank was founded in Adana in 1948, its headquarters is located in Istanbul. AKBank has a strategic partnership with Citigroup which was completed in 2007, where the agreement saw Citigroup acquire 20% of equity’s stake. Also, according to their website AKBank has 716 branches throughout Turkey, and 8 of them in Istanbul, their revenue represented 21 billion Turkish Lira in 2019. And they had 2 thousand employees as of 2019. 

  • Yapı Kredi Bankası

Yapı Kredi Bankası was founded in 1944, it has its headquarters in Istanbul, it has a little sister company Yapı Kredi Sigorta, which is responsible only for insurances procedures. 

According to Yapı Kredi’s website, their revenue in 2019 was 21.2 billion Turkish Lira and a number of employees 16.631 employees for that same year. 

Yapı Kredi Bankası has 846 branches throughout Turkey.

  • VakıfBank

VakıfBank was founded in 1954, it has its headquarters in Istanbul, VakıfBank has 939 branches throughout the whole country, and 236 of them are located in Istanbul. More than that, VakıfBank has 3 international branches located in New York, Bahrain, and Arbil. According to VakıfBank’s website, in 2021 their revenue was 10.9 billion Turkish Lira. 

  • DenizBank

Denizbank was founded in 1938 in Istanbul, firstly it was owned by the financial service institution “Dexia”, then from 2012 to 2019 Russian bank “Sberbank” took the reins, afterward, it’s the Emirati group “Emirates NBD” who is fully in charge of the financial services DenizBank provides. Its headquarters is located in Istanbul. DenizBank has 740 branches throughout Turkey, 229 of them are in Istanbul. According to their website, DenizBank had a total asset of 301 million Turkish lire in 2021. 

 

Now that you learned about the biggest banks in Turkey, you are might be interested in purchasing property with Panorama Property, please contact us immediately, and our expert team will be more than glad to support you with all of your requirements. We are a Turkish professional real estate agency that focuses completely on global investors looking to buy real estate in Istanbul, even if they are new to the market or expanding their investment.

 

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Transportation In Turkey

Transportation in turkey

Transportation in Turkey is a fascinating subject of discussion. Despite the fact that Turkey is a large country, it is relatively easy to travel across the country because of its well-connected locations. Flights, public transportation, high-speed railways, ferries, and intercity bus services are all alternatives. Turkey’s road system continues to astound us. Whenever it comes to getting about the nation, Turkey has a lot of possibilities.

Intercity Buses 

Intercity Transit is one of the most common transport modes. Buses are the most common and convenient kind of transportation. It is typically much cheaper than flying, but it takes much longer. Each region has its own intercity bus network with a variety of firms and their spotless, comfortable buses, present buses provide tickets to almost every region of the country. If you’re traveling in groups, you’ll need to buy your tickets well ahead. Although the long-time people spend on buses going from one place to another, it is a nice journey. It’s not too horrible. The buses are spacious, spotless, and peaceful. Also, the presence of TVs in front of each seat, and a WIFI connection make it easier to travel.

In Turkey, several individuals choose to travel by intercity bus. It’s a feeling worth trying! Intercity buses (also known as long-distance buses) are an important component of the Turkish tourism experience and, despite stiff competition from domestic airlines and very high traffic accident numbers, appear to be here to stay. Most bus terminals are virtual beehives of labor, with dozens of different firms competing for trade and a myriad of places to dine, consume, gift shop, or get your sneakers polished.

Public Transportation

Another transition trend in Turkey is public transportation. Every Turkish city has its unique transportation system. Let’s take Istanbul for instance both European and Asian sides are well connected and easy to access; the journey can be long, but worth the try. Istanbul has one of the largest transport systems in the world. That said, it includes the metro line, Metrobus line, different bus lines, tram, minibus, and taxi, the Istanbul public transit system and infrastructure made it simple to access significant and touristy attractions. You will find below a map showing and describing the whole Istanbul map:

خريطة مواصلات اسطنبول

 

City Bus

Every city has its own abundance of municipal buses that are cheap and easy to access. With the same ticket, we can have access to all types of transportation, including metro, tramway, ferry, and bus.

 

Minibus

Minibusses are a good alternative to local buses since they follow regular paths shown on a map on the front of the minibus. They are cheap to use and quite handy, almost as fast as taxis. A dolmuş (literally “packed”) is a car or small van (minibüs in Turkish) that drives along predetermined routes, picking up passengers (using a standard taxi hand signal) and dropping them off (using inecek var or müsait bir yerde to be dropped off). Only Bursa and Trabzon have that same system.


Taxis

Taxis are abundant and should be caught at authorized taxi stands. The amount is paid in accordance with the onboard monitor. In Turkey, all cabs are obliged by law to carry an onboard monitor. Nevertheless, predetermined charges are more typical for interstate trips, and they are plainly marked at the taxi stop. Following the outbreak of the pandemic, the Istanbul Büyükşehir Belediyesi imposed boundaries and restrictions on cab drivers in order to preserve social distance.


Rail System

The metropolitan train network is a sort of high-volume public transportation that is commonly seen in metropolitan areas and is a quick and effective means to go across the city. Many Turkish cities have metro and train lines.

 

Tram

Trams are a speedy and effective method to travel about in many cities. It links the main areas and has often more than one line. In Istanbul, tramway lines are separated into 2 categories, European sidelines, and Asian sidelines, both have many routes coverage.
The most important tramway line is the T1, which is on the European side, and covers the main touristic places, and goes almost throughout the whole of European Istanbul.
Its main stops are:

⦁ Kabataş — Dolmabahçe Palace, Taksim connection with the funicular (F1) to go to the pier to the Princes’ Islands and Kadıköy.
Tophane — Museum of Modern Art in Istanbul.
Karaköy —Connection Tünel funicular, (T) which will drop you on Istiklal Street.
Eminönü — Spice Market. Sirkeci — Train station and connection to the Marmaray.
Sultanahmet — Topkapı Palace, Hagia Sophia, Blue Mosque, Basilica Cistern, Archaeology Museum.
Beyazit — Grand Bazaar.

 

Metrobus Istanbul

Metrobus Istanbul

The Metrobus line is one of the quickest routes to go from Istanbul’s European to Asian sides. It is located on the E5 route, which offers several rest spots. The Metrobus is a 50-kilometer-long bus rapid transit line in Istanbul, Turkey. The system includes 45 stations and follows the city’s path network to Söğütlüçeşme through Avcılar, Zincirlikuyu, and the Bosphorus Bridge, with special lanes for practically the whole duration of the line.

Ferry boats

Furthermore, either in Istanbul or any other city, ferry boats are a pleasant and peaceful way to travel.
Ferries are an excellent method to move across Turkey, particularly along the Mediterranean, Aegean, and Marmara shores. There are several connections mostly around Istanbul that serve the Marmara area, with some lines also connecting to Bursa, Izmir, and Canakkale. Vehicles and passengers’ ships sail regularly across Turkey’s Mediterranean coast, mostly from Tasucu port in Silifke to Girne port in North Cyprus.

Car Rental

Furthermore, car rental is a popular alternative for individuals who do not want to use public transportation to get across the country. It’s a cheap and efficient mode of transportation. All the main global automobile rental agencies, as well as a handful of domestic counterparts, have facilities at airports and in big cities, making it simple for travelers to get a vehicle.

Air Travel

 

Flights are the most convenient and quickest way to travel across Turkey, but it is also the most expensive.
Turkey’s airline service business provides regular flights to various places around the country, all at extremely inexpensive fares for both domestic and international passengers.

Domestic prices can be as cheap as $30 one way if purchased early during the off-season. It is a smart thing to make plans carefully, especially if you want to travel on a vacation, cultural or religious event. Tickets are available online, in an airline agent, or via an authorized tour operator. Traveling by flight is now the standard in this large country, and it makes sense for individuals on a limited deadline or who want to visit remote locations such as Van or Erzurum. Turkish Airlines has the most extensive flight network since most flights from the west are routed through Istanbul or Ankara.

Cycling 


Visiting Turkey on a bike is absolutely doable for advanced users, as far as you prevent the warmest months, the roughest routes, and don’t anticipate any courtesy from vehicles. Be able to make your own maintenance, such as some mechanical procedures, since professionals on cutting-edge motorcycles are few and concentrated in major cities like Ankara, Antalya, Istanbul, and Izmir. There is a thriving domestic trail bike sector, and Shimano parts are widely available in major towns. However, whether you’re traveling through Turkey or a true bike enthusiast, it’s wise to consider purchasing a home-grown version here, since replacements and maintenance will be easier to come by. Suitable prices for bicycles cost around TL350, however, imported ones are likely to be much more costly than local models. Protect your bicycle in towns; in rural regions robbery is unlikely, though the inquisitive eyes of astonished residents may be. In Turkey, bicycle rental shops are not very much present; a noteworthy exception is Cappadocia, notably Göreme, and there are outlets in larger areas such as Antalya.

Turkish State airways

Lastly, Turkish State Railways, which serves train services across the country, has a well-developed train system. Many lines have luxurious overnight carriages. High-speed trains operate between Istanbul, Ankara, Konya, and Eskisehir.
In only a few hours, you may be comfy, helpful, as well as the ideal rail line in Turkey.
Finally, the topic of transport in Turkey is limitless. Nevertheless, it is preferable to travel to Turkey and see the improvements that Turkey is achieving in terms of transport infrastructure.

Resources:
İstanbul büyükşehir belediyesi, official website.
The Ministry of Transport, official website.

 

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Benefits of the Turkish Residence

Benefits of the Turkish Residence

When someone wants to stay in Turkey for a period of more than 90 days within a half-year period, he/she will need to apply for a Turkish Residency Permit. 

The applicant will then be granted a stay in Turkey, have access to education, he/she can marry, also convert his/her driver’s license into a Turkish one, get a tax id number, open a bank account, purchase properties… etc.

A work permit will also be needed if someone is traveling to Turkey for the purpose of work.

Who Is Required to Have a Residency Permit?

Everyone who comes to Turkey with the aim of staying for more than three months must get a Turkish Residency Permit after his/her entrance. Your stay in Turkey will be considered illegal if you do not have a residency permit

Types of Turkish Residence Permit.

Types of Turkish Residence Permit

Short-term residence permit

Within all residency permits, the Turkish short-term residency permit is the most sought after. This residency permit can be obtained for any of the following reasons:

  • For academic research purposes. 
  • To make commercial contacts or trade. 
  • To take part in a course of on-the-job education. 
  • In the scope of student exchange programs, for academic or related objectives. 
  • Tourism. 
  • Persons who purchase a property for more than $250K USD receive Turkish citizenship; however, people who purchase for less than $250K USD can get a residency permit in Turkey, which is renewed every two years. 
  • Receiving medical care if you do not have one of the diseases is considered a risk to public health.

Family residence permit

A family residency permit can be issued to a Turkish national’s foreign wife, children below the age of majority, and dependent foreign kids. For people requesting for a residence permit to be granted, the sponsor must have enough money to sustain them.

Student residence permit

If you are coming to Turkey for the purpose of your studies, you will have to apply for a student residency permit. However, it will not be needed if you already have a family residency permit. 

All types of studies and educational programs are included in the student residency permit, from elementary and secondary classes to associate degrees, bachelor, master, PhD, medical studies… etc. 

Long-term residence permit

In case someone has stayed in Turkey for a period of 8 years continuously and has had a Turkish residency permit throughout this whole period, thus, he/she can apply for a long-term residency permit, which doesn’t have an expiration date. 

However, it should be mentioned that if someone has resided in Turkey as a refugee, secondary protection status holder, or humanitarian resident visa holder, he/she is not allowed to apply for a long-term residency permit.

Humanitarian residence permit

If someone is in Turkey without a valid visa, and no deportation has been made against that individual, is waiting to be deported, or can’t return to his/her country of residence because of some emergency case, he/she can apply for a humanitarian residency permit.

Residence permit for victims of human trafficking.

Anyone who is a victim of human trafficking can apply for this type of residency permit.

How to Apply for a Turkey Residence Permit?

There are some administrative procedures that must be followed in order to apply for a Turkish residency permit. And the first step of them is to apply within a month after entering Turkey.

Then the applicant should choose which type of residency permit he/she should apply for, following his/her status. Afterward, the applicant should enter the Turkish Ministry of Interior’s website http://e-ikamet.goc.gov.tr and fill out the application form by entering all the required information such as name & surname, place, and date of birth and all the necessary personal information related to the residency permit application. 

Required Documents for a Turkey Residence Permit

Required Documents for a Turkey Residence Permit

Same as any other administrative application and paperwork process, there are some requirements and documents that will be needed in order to submit an application in good standing.

The documents that will be needed are as follow: 

  • Residency permit application form
  • 4 biometric photos
  • Original passport
  • Notarized copy of the passport or travel document
  • Evidence of substantial and long-term financial resources for the period of the residence. It should be proven that the applicant can finance himself/herself during his/her stay in Turkey, either through a bank statement or proof that he/she will receive financial resources 
  • Health insurance

It is important to acknowledge that depending on the application position, the type of residence permit he/she is asking for, his/her nationality, he/she may be required to provide extra documentation. The application must be aware of any extra documentation that might be needed. 

How long does it take to get the Turkish Residence Permit?

Usually, it takes between 1 – 3 months for the issuance of the Turkish Residency Permit, the process takes some time due to the different types of residencies permits, each type has its own kind of treatment and management process. 

Once the application is handed to the immigration department, an SMS will be sent to the applicant within 20 days up to 1 month, stipulating whether the application has been accepted or not.

After that, it will be only a matter of days or weeks before receiving the residency permit card. 

 

To sum up, the Turkish Residency Permit is very important and has a lot of advantages, same as opening a bank account, studying, opening a company, renting an apartment, buying a property… etc. you can find apartments for sale in Istanbul with our best deals.

Resources

Turkish immigration department (goç idaresi) – official website.