Why do Saudis tend to buy real estate in Turkey

The real estate market in Turkey has recently been able to be a destination for all foreigners around the world to buy real estate, and according to many statistics that were presented in this field, it was found that holders of Arab nationalities are the most popular because they have found the stability and development that they lack in their country.

The Saudis are among the first Arabs who chose to buy real estate in this country, and their numbers in Turkey are increasing greatly. What is the reason for that?

Through this article, Right Way will be with you to provide all the details and information related to the purchase of real estate by holders of Saudi citizenship in Turkey.

The presence of the Saudis in Turkey:

Real estate is one of the most important Saudi investments in Turkey at all, in light of all the facilities and advantages that characterize the Turkish real estate market. What prompted the Saudis to take this step is that there are very good relations between the two countries, and during the last period there were commercial exchanges with a material value of more than fifty million dollars.

It is worth noting that there are more than two hundred and fifty Saudi companies based in Turkey and it was an incentive for many Saudis to buy real estate in that country. Let us tell you that almost a quarter of Saudi capital in Turkey chose real estate as an investment field.

The Saudis occupy the second place in Turkey in terms of their search for apartments for sale after the Iraqi investors, who got the lead.

Reasons why Saudis buy real estate in Turkey:

There are many reasons and motives that motivated the holder of Saudi citizenship to buy real estate in Turkey, as follows:

1 - The close relationship between Saudi Arabia and Turkey:

Without looking at the political aspect, and whether there is an agreement in this aspect or not, you can be sure of the extent of good relations between any two countries in the world in terms of their trade relations. You can also take a look at economic growth. The trade and economic relationship between Turkey and Saudi Arabia is wonderful, as there are many plans Which is being studied in order to increase the volume of mutual investments, Turkey has a lot of business in Saudi Arabia, and each of the two countries seeks to help achieve the dreams and goals of the other.

2 - Turkey is a safe and developed haven for the Saudis:

In the beginning, the Saudis chose the Arab countries or the countries of the Middle East in general in order to establish their investments, and often they chose Egypt or Lebanon, but with the deteriorating economic conditions in those countries, they were forced to direct their compass to Turkey, where the economic recovery and prosperity and the geographical proximity of Turkey to the Arab world made it a destination distinct for them.

The investor is always looking for the safest place to invest in order to ensure his success and stability, and Turkey has proven that through its ability to face any crisis it faces and get out of it with the least possible losses.

Turkish laws that support the investor:

- For nearly 20 years, the Turkish economy has been in a state of growth and recovery, which has had a positive impact on various sectors, especially the real estate side, It has witnessed many plans for development and urban transformation. These projects have reached the Turkish countryside and dilapidated areas. Huge residential and commercial complexes have been built, designed according to the highest standards of quality and safety.

- The Turkish government has provided a lot of facilities to foreign investors, and the first thing it provided is the abolition of the reciprocity law. If the foreigner's country does not allow the Turkish citizen to own real estate on its land, this does not mean that Turkey also allows the foreigner to buy real estate on its land.

- It also allowed them to obtain real estate residency, which is one of the most important residencies in Turkey and can be obtained easily.

- Granting a foreigner Turkish citizenship in return for buying a property with a value of no less than two hundred and fifty thousand US dollars.

- A foreigner can only buy a property in Turkey specifically in Turkish lira.

- Ease of procedures for owning real estate in Turkey and providing tax deductions, and in some cases the foreigner is exempted from it.

- Buying a property in Turkey is a completely safe step, and the reason for this is due to the real estate appraisal document that prevents manipulation of real estate prices, in addition to the presence of many projects that are guaranteed by the Turkish government.

- Suitable real estate prices, and you can take advantage of many discounts offered by construction companies.

Turkish real estate is a promising opportunity:

Over the past years, real estate in Turkey has been able to prove that it is one of the best and safest investments ever, and that it is a hundred percent profitable, especially that this country is characterized by its tourist nature, which annually hosts thousands of tourists who need suitable hotels and apartments to reside in during their stay, and this increases their chances of profit. .

Also, the real estate market in Turkey is witnessing a great real estate diversity, as well as containing huge and modern real estate projects, whose investment value increases as we approach the infrastructure projects.

In Turkey you can find all kinds of real estate: offices / restaurants / apartments / villas / old and new houses / industrial real estate.

Documents required for Saudis to buy real estate in Turkey:

In order to complete all the procedures for buying real estate in Turkey, these papers must be prepared:

- The tax number can be obtained from the tax department and this will not take more than just minutes.

- The Turkish passport must be translated into Turkish.

- The passport should be attested by the notary public or at the Turkish embassies.

- Personal photos, and the Tapu fee must be paid.

- In order to sign the sale contract, the person concerned must be present in person, and if he is not able to attend in person, he must assign a person he trusts.

Can a Saudi own what he wants from Turkey real estate?

Although Turkish laws are very flexible, this does not negate the existence of many laws and restrictions that must be adhered to, such as:

- A foreigner, regardless of what nationality he holds, is not entitled to own more than thirty hectares in various parts of Turkey.

- He cannot own more than ten percent of the area administratively.

- You have to make sure that the property is not located in a security or military area.

The Saudis are one of the Arab nationalities who come to Turkey to buy real estate for the reasons we mentioned above, and if you have any questions about this topic, you only have to contact us so that we can update you on the latest developments in the real estate market in Turkey and secure the best suitable real estate investment opportunities for you.

Why do Saudis tend to buy real estate in Turkey

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