Arabs and real estate in Turkey a story of prominence and success
What is between the Arabs and Turkey is more than just a past and relations, as they have history, among them customs, traditions, religion, culture, and today there is among them citizenship, investment, real estate and one future, how not and their numbers exceed 10 percent of the original population of Turkey.
All expectations indicate a further increase and record numbers in the size of the Arab demand for real estate investment in Turkey through the recovery of the purchase processes and buying apartments in Istanbul, Trabzon or Antalya, the most preferred destinations by the Arab investor.
The Turkish decision two years ago to grant the Turkish citizenship for real estate investment in Turkey worth $ 250,000, had a great and strong impact in doubling the number of Arab investors in Turkey in view of the cultural rapprochement, as well as Turkey's enjoyment of security and political stability and an accelerated development of the pace of economic growth and the revolution in infrastructure and transportation networks.
For these reasons, Arab investors prefer buying a property in Turkey:
The Arabs' preference for Turkey in purchasing property in Istanbul and Turkey in general is due to several reasons, including:
· The quality of properties in Turkey and its major development in terms of design, construction, decoration and service facilities, as most engineering plans have become dependent on modern international designs perfectly suited to living according to the family system that suits the Arabs perfectly.
· Low prices of properties in Turkey in big cities such as Istanbul, Antalya and Bursa compared to similar properties in European countries and America.
· The high demand for real estate investment in Turkey by foreigners, which achieved a qualitative leap in the last seven years, which gave a strong impetus to the Arab investor in entering the Turkish real estate market with comfort and reassurance.
· Guaranteeing the profitability of property buyers, as the latest study by the global Knight Frank index, Turkey is the third largest country in the world, is profitable for buyers.
· The great convergence between the Turkish and Arab environment, where the majority condemns Islam, and mosques are spread in every street, in addition to eastern values and customs, and several common denominators such as food.
· A great spread of Arab schools and the quality of education, especially higher education.
· Provides health services and quality as Turkey has turned into a hub for the pharmaceutical industry and medical tourism.
Where do Arabs invest in Turkey?
The nationalities of Arabs wishing to purchase properties in Turkey have diversified in recent years, and the Gulf countries have risen to the top, while Iraq, for example, has occupied the lead for five consecutive years.
Regarding the places where Arab real estate investment is distributed, it was according to the preferences and desires of investors, but it is interesting to note that Istanbul came at the forefront of the areas attracting Arabs to buy properties in Turkey.
The interest of Arabs in particular during the purchase of the property in Istanbul Turkey is based on apartments in the prestigious areas surrounding the Bosporus Strait such as "Kandilli and Bebek" or in luxury villas near Lake "Sapanca" which is not far from Istanbul.
The modern residential complexes in the new urban areas close to the major installations attracted the attention of Arab investors, for example, "Basaksehir, Bahcesehir, Beylikduzu and Esenyurt".
The Arabs also went during their real estate investment in Turkey to the city of Trabzon with a breathtaking landscape on the shores of the Black Sea in addition to buying properties in Bursa and Yalova, where the Arabs tend to everything that is green, nature and with open air, just as their presence in Turkey is not limited to these cities only, as they are almost present in every Turkish spot.
Thus, the numbers of Arab real estate investment in Turkey escalated
Since the AK Party came to power in Turkey in 2002, the country has embarked on a policy of great openness to foreigners, as foreign ownership has been made available in any Turkish city in 2005 with the condition of reciprocity remaining with citizens of countries, until after that the condition of reciprocity is abolished in 2012.
To change the law on the ownership of foreigners, which constituted a strong attraction factor for foreigners in Turkey, as citizens of 183 countries were allowed to own a property in Turkey, among them Arabs, who became strongly wanting to buy property in Turkey,
Especially since the period coincided with the Arab Spring revolutions and the accompanying wave of security unrest that still exists until now, and here the Arabs did not find security in a cultural environment similar to their environment except Turkey.
In 2013, Arabs bought more than 10 percent of the total sales of properties in Turkey, or about 2,700 properties.
The real estate investment number increased in the year 2014 by almost a quarter as Gulf investors alone bought about $ 4.3 billion in Turkey properties.
Since the year 2016, the Arab investment numbers in the Turkey properties began to grow, with Iraq maintaining the lead, Saudi Arabia ranked third, and Kuwait ranked fourth, while Qatar and Bahrain are always ranked in the top ten in terms of purchasing property in Istanbul, Turkey.
It is a short story about investors who found the environment, facilities and profitability, so they invested and converted one capital into multiple capitals, it is Turkey where there is no place for loss.