ARABS SHOW GREAT INTEREST IN PURCHASING A PROPERTY IN TURKEY…
Geographically located almost in the middle of the ring of fire, despite wars and crises around Turkey, continues to be a favorite of foreigners. After the “Law of Reciprocity” which was enacted in 2005, the Arabs bought a lot of residential buildings in Turkey, who showed great interest in the Mediterranean and Aegean Sea region, Istanbul culture, mountain in the Black Sea, Yalova thermal and winter tourism in Uludag discovered.
Turkey in recent years, international investment in real estate sector as one of the most attractive regions, are increasingly popular. In the world geography, the special location of Turkey, geographical beauty, integration with the global economy, new legislation and regulations brought on by ease and attractive real estate projects, among the reasons for this interest.
Hüseyin Sami Çaprak consumer Law Institute, Arab Real Estate Investors Commission Chairman said that, in 2015 10863 of pieces of real estate were sold to the Arabs and that this is half of the number of units sold said real estate to foreigners. For 2016 stipulates that housing be sold to the Arabs 15,000 units. Only in the months of November and December are being sold to the Arabs that real estate is specified as the number of 2,000 units.
The countries who choose Turkey, Iraqis is the first coming. These countries Saudi Arabia, Kuwait, Libya, United Arab Emirates, Qatar, Egypt, Jordan and Yemen are watching Iraq. The most property purchased are first Istanbul and then Yalova, Bursa, Sakarya, Kocaeli and Trabzon.
Before the Law of Reciprocity, more difficult for them to acquire property in Turkey, Middle Eastern countries the Gulf was tied to conditions. Unable to acquire the property directly for citizens of these countries in Turkey, however, they could purchase the property as the owner of the company.
After the Law, health tourism for Arab investors who don’t want to make do with available timeshare instead of 15 days, given the longer and more extensive the use, the apartment began investing in.