Arab nationalities compete for buying property in Turkey
The social media platforms have been filled with luxury offers in Istanbul in recent years, for sale apartments and other for how to obtain Turkish citizenship, that is, how to obtain a Turkish passport, as the roaming person finds through various internet search sites a great introduction to major projects in which Istanbul apartments are offered for sale or other types of property in Turkey in general.
Offers for buying property in Turkey alone contributed to an unprecedented real estate renaissance in the country that turned into one of the most important destinations for buying property in Istanbul in addition to other cities as well as an aim to obtain Turkish citizenship through owning a private property by Arab investors.
The law of owning a property in Turkey allows foreigners to purchase a property in Istanbul Turkey or any other urban district, provided that the property is not adjacent to security or military areas and the legislative text also imposes on foreigners wishing to purchase property in Turkey limited annual taxes on real estate that vary from one place to another Including a property tax of 4% of the property’s value, paid only once.
And drew the proportion of low taxes and fees imposed on foreigners who buy property in Turkey within one of the real estate projects in Turkey, drew a lot of Arab investors who became in recent years the leadership position of the nationalities that are interested in buying property in Istanbul Turkey according to the statistics of the official numbers issued by institutes Government statistics annually.
Below we present to you a glimpse into the Arab nationalities that are most popular for Istanbul apartments for sale in recent years:
Buying property in Turkey by the Saudis
One of the nationalities that caused a surprise in the percentage of ownership since the abolition of the reciprocity law in Turkey in 2012 is Saudi nationality, as the Saudis flocked aggressively to all types of property in Turkey, especially after proving the investment feasibility of buying property in Turkey, the country that succeeded in attracting a large number of Saudi and Gulf tourists who, in turn, gave an excellent impression of life in various Turkish cities and the basics of good living.
And Saudi businessmen strongly accept offers for buying property in Istanbul that combine the charm of the East with the modernity of the West, in addition to other cities known for their picturesque nature, such as Sakarya, Yalova, Bursa and Trabzon.
And the Saudis purchase of real estate in Turkey increases during the summer season, especially residential, commercial and hotel properties, after experiments that have proven their usefulness in investment and achieving rapid profit.
Buying property in Turkey by Yemenis
With the increase in investment opportunities and Turkish government incentives for those coming to buy property in Turkey, whether by including tax exemptions and granting them programs for real estate residence and also obtaining Turkish citizenship through owning a property, the Yemenis increased interest in owning property in Turkey where data shows that the Yemenis dissolved during the last three years Within the first twenty ranks of ownership in Turkey.
The Yemenis bought various types of real estate "villas, apartments, shops, offices, stores, hotels .." that guarantee them a safe path for how to obtain Turkish citizenship and real estate residence in light of the ongoing war in their country and a desire for them to save their savings through the heavy demand for offers Istanbul apartments for sale are first class.
Buying property in Turkey by the Palestinians
During the last five years, Palestinian nationality entered the list of the most popular nationalities for ownership of property in Turkey and the purchase of apartments in Istanbul and commercial stores due to the facilities provided by the Turkish government to holders of the Palestinian passport and travel documents without exception.
Buying property in Turkey by the Iraqis
The neighborhood between Iraq and Turkey has led to the creation of great historical, economic and cultural ties between the two countries, the effects of which have extended to the real estate sector, so Iraqis have become the largest bloc in buying property in Turkey, topping the list of real estate sales to foreigners for five years in a row, especially with the deteriorating security conditions in Iraq, which made Iraqi businessmen are fleeing to a safe country that is similar to them in customs, traditions and customs, and ensures that their capital is doubled due to Turkey's economic standing in the world.
Iraqis bought various types of real estate within the offerings of Istanbul apartments for sale and other like shops, offices, hotels, warehouses and lands.
Buying property in Turkey by Jordanians
Turkey has opened the door for Jordanians to own properties under the reciprocity law, which also allowed even Palestinians with Jordanian passports to buy property in Turkey in Istanbul or other cities.
Stimulating raising the ranking of Jordanians in a real estate ownership department in Turkey to the first ten ranks, while maintaining their position during the recent years.
Buying property in Turkey by the Algerians
The Algerians have drawn attention to the percentage of buying property in Turkey once a decision is issued to reduce the value of obtaining Turkish citizenship by owning a property to 250,000 USD.
Here, the Algerians rushed towards buying property in Istanbul, given the importance of obtaining the Turkish passport, which enables the holder to enter more than 116 countries in the world without a visa or an entry visa at the airport.