Today, Turkey is a favorite destination for many Saudi real estate investors, due to the great opportunities that Turkey offers in the real estate sector.
By investing in Turkish real estate, the Saudis can obtain a large profit and achieve more profits, in addition to obtaining a Turkish passport, which facilitates their movement and travel without the need to obtain entry visas to other countries.
In this article, we will talk about the reasons why Saudis own real estate in Turkey, and how they can take advantage of these wonderful opportunities.
Saudis' increasing interest in real estate in Turkey:
Turkey is witnessing increasing interest from Saudi investors, as they increasingly own real estate and invest in various economic sectors.
This interest comes as a result of the Turkish government's support for investment programs and tax exemptions, in addition to a law that grants the right to Turkish citizenship to anyone who owns real estate worth $400,000.
High demand for the real estate market in Turkey:
This increase is due to flexible regulations and laws that promote investments in various sectors, such as tax cuts and other facilities that greatly attract Saudi investors.
Besides, the cultural similarity between the two countries also encourages the purchase of real estate in Turkey, as Turkey is an attractive destination for real estate investment due to the relatively low price of real estate compared to Saudi Arabia, and the opportunity to apply for Turkish citizenship by purchasing real estate.
The reasons for the rush of Saudis to buy real estate in Turkey:
In addition to all of the aforementioned, there are many reasons that have made the real estate sector in Turkey an essential destination for everyone who wants to obtain a property in a safe and stable area that lacks nothing in stability and here are some important details about it:
1 - Increase confidence in the Turkish economy:
The Turkish economy has achieved rapid growth in recent years, as it is today one of the most important economies in the region, as the Turkish economy is characterized by diversity, as it includes many important sectors such as tourism, industry and trade and in addition, the development of economic policies in Turkey and the government's pursuit of economic stability confirmed the existence of a suitable investment environment, which prompted many Saudis to invest in Turkish real estate.
2 - Strategic geographical location:
It is located between Europe and Asia, and contains the Mediterranean Sea on one side, and the Black Sea on the other, which makes it an ideal place for real estate with high investment value.
Turkey is also characterized by its eternity with a solid and strong investment climate, supported by important economic reforms over recent years, which makes it a safe and suitable place for real estate investment, as Turkey was also distinguished by a variety of famous tourist areas in various parts of the country, which increases the demand for real estate in it.
Tips for Saudis owning real estate in Turkey:
You must ensure that all papers and documents necessary for ownership are properly completed before purchasing and the buyer must also comply with the tax laws and legal regulations related to the purchase of real estate in Turkey and there are legal ways to obtain Turkish citizenship through the purchase of a property, and the validity of the entity with which it was agreed to purchase the property must be verified, as it is advised to contact a local legal attorney to obtain the necessary advice and to review all papers and documents carefully.
Steps to follow when owning real estate in Turkey:
Choose a well-known and reliable real estate company to deal with, as it can provide many services that include all stages of purchase, from searching for the right property to registration and transfer procedures.
Be sure to obtain all legal documents proving your ownership of the property, which include the purchase and transfer contract and the documents necessary to obtain residence permits and obtain a tax code.
Make sure that there are no legal or previous ownership problems on the property you want to buy, as this information can be obtained by conducting a detailed examination of the real estate registry.
Negotiate the price of the property you want to buy before making any purchase, and try to get discounts as much as possible, and you can achieve this by negotiating reasonably and setting a specific ceiling for the price you would like to pay.
Do not forget to check all expenses associated with the purchase, such as agent fees, registration, taxes, contract value and other additional expenses, as this can be done by contacting your real estate agent.
Be sure to visit the property you want to buy before making any purchase, inspect the property well, and ensure the safety of all facilities and services available to the property.
Make a good evaluation of the area in which the property you want to buy is located, and check the availability of schools, hospitals, commercial centers and tourist places in the vicinity of the property, and compare them with the prices that are offered.
Work to complete all the necessary procedures quickly, and do not hesitate to get help from the real estate agent with whom you dealt, so that you can obtain the property as quickly as possible, and without any legal or property problems.
Common questions:
Why do Saudis own real estate in Turkey?
Turkey is a popular tourist destination among Saudis, and it has many advantages that make it ideal for real estate investment, such as high demand for residence there, reasonable prices for purchase, and flexible laws that facilitate the buying and selling process.
Are there any risks in buying real estate in Turkey?
As with any real estate transaction, there are some potential risks, such as changes in the real estate market or the legality of the project and therefore, the investor must ensure that all papers and documents are correct before making any transaction.
How can Saudis buy real estate in Turkey?
The procedures for buying real estate in Turkey differ from those followed in Saudi Arabia, and the investor must obtain the assistance of a reliable real estate agent to ensure the integrity of the transaction and obtain all the necessary papers and documents and the validity of the project and the developer's records must also be verified before any transaction is made.
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