What are the most popular nationalities who buy real estate in Turkey?
Day after day the attention of Arab and foreign investors is turning to real estate investment in Turkey , as a result of the incentives and facilities provided by the Turkish government to foreign investors , including granting them real estate residency that is renewed annually , and granting them the right to obtain Turkish citizenship when buying a property that its value is not less than $ 250.000 .
For more details on Turkish citizenship requirements : Turkish citizenship
RH 80- Apartments with Bosphorus view and suitable payment plans in Sisli
A first class residential and investment project in the center of Sisli , specifically in the fast growing Bomonti area .
The project is located in one of the most famous areas on the European side of Istanbul , Bomonti district , a growing area that attracts the attention of investors at the moment , which is characterized by easy access to the most vital places in the city , and its proximity to shopping centers , airports , hospitals , universities and schools .
The project location is just 8 minutes away from Taksim .
All the project details in this link : RH 80
Turkish economy is characterized by its cohesion and strength in the face of global challenges and fluctuations , and that being a vital economy , it was and remains a subject of confidence among international parties interested in the economic issue , and among Turkish and foreign investors .
The real estate market in Turkey in general , and in Istanbul in particular , is witnessing a significant recovery and development , witnessed by figures and statistics issued by the specialized institutions of statistics , where a previous statistic showed that the number of properties sold in Istanbul alone during only September of last year 2019 has reached 8 thousand and 347 properties , and the city of Istanbul is considered as one of the biggest selling points and the best types of real estate investment are available in Turkey , and the Turkish real estate market is within the budget of most investors , and the Turkish real estate market remains a safe haven for saving money in to many investors .
The most popular nationalities who buy real estate in Turkey
The General Directorate of Land Registry and Land Survey of the Turkish Ministry of Environment and Urban Development announced that real estate sales to foreigners in Turkey during the past year 2019 reached a record number compared to the past 10 years . They noted that foreigners bought 67.322 properties in Turkey over the past year .
They stated that among the most nationalities buying real estate in Turkey are the Iraqis , followed by the British , then the Germans , the Russians and the Saudis .
They added , that last year 6 thousand and 307 lands , 61 thousand and 15 apartments were purchased by 63.986 foreign citizens .
The cities of Istanbul , Antalya , and Mugla have topped the list of cities that are increasingly popular for apartments in foreign countries . Foreigners also preferred the cities of Istanbul , Bursa and Mugla to buy real estate . Last year 2019 , Istanbul only has 25.872 apartments been sold .
RH 163 - One of the best projects in Maslak , ready for housing with a view of Belgrade Forest
Apartments for sale in Istanbul in a huge project like a full-service city , which includes a shopping center , 5-star hotel and integrated social facilities .
The project provides an ideal choice for housing and investment . The project was built in three phases : the units of the first residential phase have been completed and fully sold , the second phase includes shops and a shopping center , while the third and final phase is a mixture of residential and commercial apartments .
The project is located on the European side of Istanbul , specifically in Maslak , one of the largest real estate development areas in the city .
All the project details in this link : RH 163
What are the advantages of buying a property in Turkey ?
- Low tax in Turkey , the decision to reduce taxes in Turkey is one of a series of decisions concerning the real estate sector in Turkey , and was reflected positively in stimulating foreign investors to own property in Turkey , which contributed to the revival of the real estate market in Turkey in general . The most important tax deductions are : Exempting the foreign buyer from the value added tax due on the property .
- Obtaining a residence permit , where foreigners who own properties in Turkey , whose price is less than $ 250.000 , are granted a residence permit that is renewed annually . Real estate residence permit in Turkey is granted to the landlord , his wife , and his children under the age of 18 .
- Real estate in Turkey is the cheapest real estate investment in Europe , where real estate prices in Turkey are considerably cheaper than those in Europe , with similar features in infrastructure , and similar in structure of developed European countries .
- Real estate investment in Turkey provides a profitable investment return , based on the economic activity and rapid urban development , and the strength of tourism in Turkey , which is best reflected in the periods and tourist seasons , through the demand for rental homes during those seasons distributed throughout year .
What are the nationalities forbidden to own real estate in Turkey ?
According to Turkish laws , foreigners residing in Turkey from most nationalities are allowed to own real estate in Turkey , but for some foreign nationalities this law does not include them , unfortunately , and its citizens are prohibited from real estate ownership in Turkey , and these nationalities are : Syrian , Armenian , Cypriot , North Korean , and Cuban .
This excludes special cases such as :
- Turkish citizens who are citizens of the previous countries .
- Those with a second citizenship are allowed to own real estate in Turkey .
- Citizens of Northern Cyprus .
Why Turkey prevents these nationalities from owning real estate ?
For Syrians , the reason for preventing them from real estate ownership in Turkey dates back to 1939 , when the French Mandate government in Syria confiscated the property of the Turks in Syria .
But the situation has changed , that the numbers of Syrians in Turkey have increased dramatically since 2011 , and they constitute an important number in the Turkish economy and the labor market , so real estate experts seek to lift the ban on Syrians and benefit from them in the real estate sector in Turkey , which will certainly make a big positive difference . Soon it is expected that the decision to allow Syrians to own real estate in Turkey .
For the Armenians , the historical events between Turkey and Armenia and the war between the Armenians and the Turks prior to World War I affected their political and economic relations until the present time . Therefore , the Turks continued to prohibit real estate ownership for Armenians inside Turkey , and it is not expected that this ban will be abolished for Armenians in the near future .
Reasons for preventing other nationalities
As for other nationalities , the prevention of their citizens from real estate ownership in Turkey is due to reasons related to the imposition of international sanctions , where the Turkish government is committed to do so .
Are there ways to allow owners of these nationalities to own real estate in Turkey ?
Certainly there are some ways in which the owners of some nationalities can be allowed to own real estate in Turkey , but the owner of the property does not obtain all the rights that realtors enjoy from other foreign nationalities .
The most prominent and easiest way is to establish a company in Turkey . Establishing a company in Turkey that allows you to buy real estate under the name of the company that you founded , and you have the right to live in it or invest and sell it , but in this case the property owner does not obtain real estate residence in Turkey , nor can he apply for citizenship through real estate investment in Turkey .
Details of establishing a company in Turkey are in the following article : Establishing a company in Turkey