Hotel for Sale in Istanbul

Turkey has long been a popular travel destination with many different sectors. The tourism industry is growing, and making investments in the hotel for sale Istanbul could have very positive financial results. Turkey's multibillion-dollar tourism business just continues to expand and doesn’t seem to stop! By buying a hotel for sale in Istanbul, you can invest in the tourism industry and take advantage of its many benefits while participating in the market's growth. 

Can Foreigners Buy Hotel in Istanbul?

Both foreign and native individuals and companies can open a hotel anywhere in Turkey Real Estate. As long as the location is good and there is enough money... Before buying a hotel, the investor must first get a business license from the city. You'll need to fill out a standard application for a business license, which you can easily get from the Department of Municipalities' website. The application procedure can take from one to three business days. After your application is approved, you need to pay the application fee. The municipality sets the application fee where the hotel is considered to have been bought. As soon as the investor has the proper business license, he or she can start running the hotel. The Ministry of Culture and Tourism is where hostel owners can register their businesses or get a permit to run a business in the tourism sector. The second one is not required, but it is advised, whereas the first one is. You can learn more about the essentials by contacting one of the Vartur Real Estate team members. 

Price for Hotels in Istanbul

You can register your business using one of two types of forms. Under Turkish Commercial Law, people from other countries can buy an Istanbul hotel that is for sale. A minimum of $10,000 is required to establish a limited liability company. In comparison, prices for hotel for sale Istanbul range from €30,000 to €100,000. However, the cost of purchasing a 5-star hotel in Istanbul ranges from €1 million to €190 million. Well, of course, what kind of hotel you want will mainly affect the cost. 

Where to Buy a Hotel in Istanbul?

Hotels for sale Istanbul are spread throughout the city since it serves as a permanent, ever-changing home to thousands of Turks and visitors every day. Fatih, which is home to UNESCO World Heritage sites, is one of two well-liked locations for individuals wishing to profit from tourism. This part of the city is called the "historical section," and it is home to well-known buildings like Hagia Sophia. Based on the number of rooms, amenities, and distance from the sea, a hotel for sale Istanbul has been given a star rating from 1 to 5. Remember that your amenities and services are much more important than you might think, as is the hotel's closeness to your Istanbul home. However, if we put everything aside, Besiktas and Taksim are always exciting places to visit. Hotels in historical areas, like Sultanahmet, Galata, and Karakoy, tend to attract a lot of guests. The Princess Islands and the coastal regions will also attract guests who prefer to be near the water, so that's good to know.