A Brief Introduction To Housing
Finding the right home for your accommodation in Istanbul is a vital issue for your sustaining a happy life away from your homeland. Considering the fact that different things make different people happy, you should clear what kind of home you will prefer.
Choose Your Continent!
One of the unique beauties of Istanbul is the fact that it unites Europe and Asia. And both sides of the city have beautiful living environments offering different features.
European Side offers a wider scale of habitants, easier access to traditional living & business centers and Bosporus Lane. Modern living centers, developments and mix-use projects are common in this side of the city and could be what you may prefer if you want to live in a more vivid area.
Whereas Asian Side promises a more laid-back lifestyle, greener streets and access to not only Bosporus but also Marmara Sea. You can enjoy riding your bike easier than European Side and enjoy a simple picnic with your friends and family with your simple portable chairs over the weekends and maybe in the evening.
Traffic is a traditional problem in Istanbul. Less time your family and you spend on the road will mean more time you will save for each other or yourself. Therefore, proximity to your work, kids’ school or the living centers you may prefer to spend time in will not only make you save time and energy, but also make you live in a neighborhood with people share your lifestyle.
Type Of Home
Type of home and neighborhood could be considered as the next step.
You can prefer a villa, stand-alone building or attached house if you enjoy spending time in your private garden. Istanbul is also full of people traditional historical buildings and mansions; some even with private docks to Bosporus . This preference will totally depend on your lifestyle and affordability.
Standard apartments in traditional high-end neighborhoods is also a major option. Most of the apartments that you can find in such neighborhoods are 3 bedrooms apartments, but 2 or 4 + ones are also available. 1-bedroom apartments usually happen to be found in newly built buildings in humbler neighborhoods.
There are also residential compounds with facilities such as swimming pool, security, gym, etc... Most of those exist in the traditional high-end neighborhoods mentioned above; such as Maslak, Ayazağa, Levent, Akatlar, Ulus or Etiler but there are also much affordable options in the outskirts of the city; all the way through Bahçeşehir or Beylikdüzü. You should always keep in mind the fact that those extra facilities will not only increase the price or rent, but also monthly service charge.
As last but not the least; “rezidans” or “residences” as mentioned in Turkish property market. Those are actually residential units within (most usually) mix-use developments which offer high-end living standards. They do not only offer a modern & prestigious living but also view of a skyscraper and most or all of what traditional compounds do. 2 most disadvantageous features of “rezidans” units are; most of those do not have openable windows and you need to depend on the automated air ventilation, and monthly service charges are usually the highest.
Furnished Or Not Furnished?
We have good news and bad news. Let’s begin with the good ones;
- There are both type of units in all types of homes and market is always vivid.
- There are various options with various qualities. You can most probably find a furbished option within your budget range.
- Most of the expats prefer the furbished option, which will bring you closer to people from your own geography and culture.
- If you prefer to furbish your home according to your own taste; furniture sector in Istanbul is also very flexible. This will also enable you to decorate your home according to your wish & budget.
Here Come The Bad News;
- Deposit amount being asked for furbished apartments are usually twice as more than not furbished ones and every single damage you might give to the furniture unwillingly will be deducted out of it. This deduction is most usually done by the valuation of the landlord.
- Rent amount of furnished apartments are usually 20 — 30% higher than their neighbors. So you should better make your assessment according your estimation of staying in Istanbul
Corporate or Personal Leasing?
This would be a concern for you and your company. Most of the residential units; furnished or not; belong to private individuals, which will bring a 25% withholding tax on top of the net rent amount if you choose to do a corporate leasing. But this is not an issue for private leasing.
Nevertheless, some furnished apartments may be operated by a company; which means an extra 18% VAT, whether you do a corporate or personal leasing. In such case doing a corporate leasing will enable to deduct this 18% from your own tax dept; which will change the disadvantage to an advantage.
To conclude, your housing can be a nightmare or a blessing all according to various standards. Always keep in mind to clear your preferences in your mind first, and make sure you work with a right property consultant who will understand you and show the best options according to your standards; not give you a city tour just to show you what he or she has in the portfolio.