The Turkish real estate market ... continuous activity and heavy demand, what is the reason?
What is the reason behind the perfect boom in the Turkish real estate market?
Today, the Turkish real estate market has become one of the strongest and best markets around the world, both in terms of various opportunities and achieving significant profits, but! What is the reason behind this boom and what are the reasons that encourage investment in the Turkish real estate market? This is what we will know through the following article ... interesting reading:)
The Turkish real estate market is an attractive environment for foreigners:
In the midst of the various government facilities, exemptions and reductions that Arab investors receive in the real estate field, Turkey has become an attractive environment for them and all foreigners interested in purchasing real estate and establishing various commercial projects, which prompted experts and major investors to describe Turkey as a safe investment environment.
Turkey ... an ideal mix of diverse cultures:
The remarkable cultural diversity and the wide spread of Arab communities in Turkey, specifically in Istanbul, make it an ideal destination for housing and investment at the same time.
We often find Arab communities heading to Istanbul for housing and stability or for other purposes such as studying or launching commercial activities and engaging in the Turkish labor market.
If we look at the latest reports of the Turkish Statistical Institute, we can find that the Iraqis had bought 18% of the 143,000 properties sold to foreigners between 2015 and 2019, followed by the Iranians and Saudis at a rate of 9% each, and then the Russians at a rate of 5 It is followed by Kuwaitis, Qataris and Emiratis, at a rate of about 5% for each nationality.
Real estate diversity and abundance of opportunities:
We can describe the diversity in the Turkish real estate market as an ideal! This is due to the presence of a significant number of huge construction companies in Turkey that have built hundreds of modern residential complexes in recent years, and this is what made Turkey rich in real estate opportunities and an incubator for various types of real estate and the most beautiful of them.
This is what gives the investor complete freedom to choose the property that matches his aspirations and plans and facilitates the process of finding a dream apartment.
The Turkish state always intends to use the stimulus strategy, realizing the importance of incentives and facilities that attract foreign capital significantly.
The Turkish government had provided the Turkish real estate market with many encouraging incentives in the past periods, including:
Real estate residence:
Whoever buys real estate in Turkey gets the right to permanent real estate residence in Turkey or renewable tourism residency, as it is called
It is a residence whose duration ranges between 6 months and 3 years, and its holder can renew it each time it ends, provided that he presents the title deed “Tabu” during the residency renewal interview, in addition to the possibility of granting him the same residence to his first-degree relatives.
In addition to the naturalization law for foreign investors, which provides for the granting of Turkish citizenship to every investor who buys one or more real estate worth 250 thousand US dollars, provided that he does not sell it before the passage of 3 years and that within a period ranging between 45 to 90 days after preparing the papers and documents necessary to obtain them
Better than that, the investor's family (his wife and children under the legal age ”18 is entitled to obtain Turkish citizenship with him and enjoy the benefits and power of a Turkish passport.
Statistics and figures:
Returning to the Turkish Statistical Institute, it is worth noting that the Turkish real estate market recorded an increase in real estate sales to foreigners during the month of August, the highest compared to the month of previous years.
Where real estate sales increased by more than 8% compared to the same month of last year 2019.
Also, real estate sales to foreigners during the first eight months of 2020 reached 20 thousand and 896 houses, and this confirms that the Turkish real estate market, specifically the sale of real estate to foreigners, has returned to its normal and usual course before the outbreak of the covid_19 epidemic.
Istanbul at the forefront:
As usual, Istanbul topped the list of the most Turkish cities selling homes and housing units to foreigners, followed by Antalya, then Ankara, Mersin, and then Yalova.
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Obtaining Turkish Citizenship by Owning a Property
The Turkish real estate market
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