Reasons for Gulf ownership of real estate in Turkey

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Reasons for Gulf ownership of real estate in Turkey

Gulf nationals are among the most foreigners and Arabs owning real estate in Türkiye

Reasons for Gulf ownership of real estate in Turkey
25th April 2023
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Turkey is one of the most popular tourist destinations in the world, not only because of its rich history and diverse culture, but also because of its thriving economy and the investment opportunities it offers to investors and among these investors, Gulf nationals are at the forefront of real estate investors in Turkey.

In this article, we will share with you some important details and information in this context.

Find out the reasons for Gulf ownership of real estate in Turkey

Turkey is one of the best countries in the world to invest in real estate, as it provides various and very profitable investment opportunities and among these opportunities, Gulf ownership of real estate in Turkey comes, which is considered one of the main reasons that made them prefer this tourist destination as a place for investment.

Among the most important reasons for Gulf ownership of real estate in Turkey, we mention:

 

1- Investors obtaining Turkish citizenship is one of the main reasons that made them prefer owning real estate in Turkey, as these procedures are facilitated for investors and their families.

 

2- Real estate costs in Turkey are low compared to other countries, and therefore the investor can buy real estate at reasonable prices and in different sizes.

 

3- Turkey's economy is one of the strongest economies in the Middle East and North Africa region, as it provides many and varied investment opportunities in various fields.

 

4- Turkey's location enjoys a distinct geography where several sea and air routes intersect, and therefore it is an ideal place to invest in real estate.

5- The system of government in Turkey is similar to the system of government in some Gulf countries, and therefore the investor feels belonging and harmony with Turkish society.

 

6- Turkey provides a high quality of life for the population, as it provides advanced health and educational services, modern markets and wonderful entertainment places, in addition to its picturesque nature and attractive beaches.



Where do Turkish nationals own real estate in Turkey?

Have you ever wondered about the cities in which Gulf nationals own real estate in Turkey?

Istanbul is the first city that Gulf investors prefer to buy real estate in, due to the high value of real estate and the increasing demand for it and Istanbul is also distinguished by the presence of major real estate projects that include luxury apartments, commercial malls, green spaces, and various entertainment facilities

The city of Antalya comes second after Istanbul, as it is characterized by beautiful weather, wonderful beaches and modern commercial markets, which makes it a favorite tourist destination for Gulf tourists.

 

 Gulf investors prefer to buy real estate in Bursa, which is considered one of the most important Turkish cities famous for its picturesque nature, historical markets, and modern real estate projects.

 

Then comes the city of Trabzon, which is famous for its beautiful tourist places, picturesque nature, and various commercial markets.

 

Conditions for Gulf ownership of real estate in Turkey

First, Gulf investors must have a valid residency in Turkey, and in the absence of a permit, a foreigner is not entitled to buy more than 30 hectares in various parts of Turkey and cannot choose an area in which foreign ownership has reached more than 10% of its total area.

 

Secondly, Gulf investors must obtain a Turkish tax number, which is issued by the Turkish tax administration and obtaining this number requires a transaction with the tax administration, and the submission of some necessary documents.

 

Third, Gulf investors must provide the amount of money required to purchase the property, and the transfer process requires the use of approved banking services in Turkey, which require additional fees

Fourth, Gulf investors must ensure the validity and orderliness of the property before purchasing it, by verifying all required documents and certificates, and ensuring the safety of the property in all aspects.

 

Finally, Gulf investors must deal with reliable and reputable real estate companies in Turkey, in order to facilitate the property purchase process, and to ensure that they receive the best after-sales services.

 

Papers required for Gulf ownership of real estate in Turkey

First, the Gulf nationals must obtain a residence document in Turkey, after submitting an application to the Turkish authorities and providing some necessary documents such as a passport, a personal photo, and a bank certificate and the process of obtaining residency takes about a month from the date of application.

Secondly, Gulf nationals must open a bank account in Turkey, in order to facilitate the process of transferring the amounts of money required to purchase real estate, and also to facilitate the process of paying taxes and fees related to real estate.

 

Third, they must provide a bank certificate confirming their ability to pay for the properties they wish to purchase as this certificate includes information about the depositor's account, the beneficiary's account and the required amount.

 

Fourth, Gulf nationals must provide a copy of the real estate purchase contract to be owned, which contains information about the buyer and seller, the property to be purchased, and the required amount.

 

Fifth, Gulf nationals must pay taxes and fees related to the purchase of real estate, according to the percentages specified by the Turkish authorities.



Common questions:

  1. Can Gulf nationals own real estate in Turkey?

Yes, Gulf nationals are allowed to own real estate in Turkey in accordance with the laws.

 

  1. What are the procedures required for Gulf nationals to own a property in Turkey?

The procedures include verifying the validity of the buyer and seller, ensuring that there are no legal or financial problems with the property, and concluding a purchase contract in accordance with the conditions specified in it.

 

  1. Are there restrictions on Gulf nationals owning real estate in Turkey?

There are no special restrictions on Gulf ownership of real estate in Turkey and it is advised to ensure that all regulations and controls specified in Turkish laws are respected.

 

Get the best real estate offers in Turkey by contacting Binaa Real Estate Company, because we are keen to provide many important services to our customers as you can also benefit from our distinguished network of relations with the most important construction companies in obtaining exclusive and competitive prices, and Binaa Real Estate Company is with you to start the real estate investment project in Turkey in a profitable manner.

 

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