Huge investment…Why Arabs Race to Buy Real Estate in Turkey
It is no secret that the Arabs favored the idea of buying a property in Turkey during the last decade, specifically after the economic and urban renaissance in the country, regardless of the political and regional stability that it enjoys, which made it a safe haven for citizens of Arab countries and the Middle East, so they are only competing to own property in it? There are several reasons we mention in this article.
Reasons why Arabs buy real estate in Turkey?
The Turkish real estate market is crowded with foreigners, especially Arabs, but why did they choose Turkey over other neighboring countries? Through the following we will give you the answer:
1.Turkey’s Strategic Position:
Turkey is known to occupy a geostrategic position on the world map. It is located between the two strongest continents, Asia and Europe. What we want to say is that it forms a link between East and West of the world, and this has a remarkable friendly effect in granting it many advantages in all commercial, industrial and political aspects, which made it a haven for Arab investors. Besides, these advantages are located near their country.
2.Real estate prices in Turkey:
If you take a look at the prices of real estate and apartments located within the borders of the Turkish state, you will find them low and most layers of society are able to acquire them, despite the prosperity that Turkey is witnessing and the beauty and wonderful design of its real estate, and this will become clear if you buy an apartment in one of the most luxurious Turkish cities, such as Istanbul, for example, the economic capital of the country, with an amount of money that is not enough to buy any apartment, no matter how bad it may be in other European cities, because real estate prices in European countries are very expensive in front of real estate prices in Turkey.
3. Real estate investment boom:
What attracts Arab investors most towards Turkey is its success in various fields, especially in the field of real estate investment, as real estate experts confirmed that the real estate sector in this prestigious country is still witnessing successes and is still emerging on an increasing trend, and statistics indicate that real estate prices in Turkey will increase significantly in the coming years, which means achieving more profits and gains, and this has had a positive impact on the rate of Arabs’ demand for Turkish real estate and guaranteed them a good return.
4.Establishing projects that guarantee promising investments:
Construction companies in Turkey offer many large real estate projects from high-end residential complexes, villas, etc., which are common to all these projects. They are designed according to several international standards to keep pace with the latest developments in modernity and development in the world, which has attracted huge numbers of foreign investors, especially Arabs.
The Turkish state has played the same role to increase the number of real estate investments in it by Arab investors, as it has established several huge projects, which, although still under implementation, have caused a significant increase in the prices of real estate and raised the areas close to it to the desired summit. In this context, the Turkish state culminated in its efforts by announcing the launch of the new Istanbul Canal project on the European side of Istanbul, which is described as one of the largest projects in the world during the 21st century, as it is working to change the shape of maritime transport in Turkey and the entire world, in addition to being a new tributary of the Turkish economy.
In this context, we must refer to the most important project that has led to a surge in real estate investment in Turkey and has worked in a way that cannot be overlooked in increasing the turnout of all investors towards Turkish real estate, especially Arabs, who find that it will increase their profit rate by buying a property near it, which is Istanbul Airport, which is one of the latest and largest airports in the world, in addition to containing more than 300 airline points, 250 of which are international airline points.
In addition to the third Istanbul Bridge, which was completed several years ago, but its impact on the nearby real estate is still present, as it is the link between the European Bank and the Asian Bank of Istanbul, specifically above the famous Bosphorus Strait, and it has worked to ease the congestion on the Strait and within easier and safer traffic in the city of Istanbul.
5.Turkish social environment:
Turkey shares with the Middle East and Arab countries some customs and traditions. Turkish food is somewhat familiar to the Arabs, and there are cultural divisions and values between the Turks and the Arabs as evidence that the social environment between them is close, as both parties owe the Islamic religion.
6.The Arab community in Turkey
More than the percentage of Arabs’ demand for Turkey is that it contains a large Arab community, which makes them feel safe and easy to adapt, especially after the increase in the number of Turkish language schools for Arabs, and the spread of Arab schools throughout the Turkish state, especially in the major cities, which proves the interest in this language and provides Arabs with a good education in their language if they do not have a Turkish language, so Turkey has become one of the most suitable destinations for Arabs outside the Arab world.
7. Turkish citizenship:
As an encouragement from the Turkish state to foreign and Arab investors, it gave them a golden opportunity to obtain Turkish citizenship in exchange for buying a property on their lands for an amount of at least 400 thousand US dollars, provided that it is purchased by a Turkish construction company or a Turkish seller and after sale for a minimum period of three years.
8. Job creation:
The Turkish state provides unlimited job opportunities in all sectors, but most of them are tourists because Turkey is a top-class tourist country that is visited by thousands of tourists on a daily basis, and thus the Arabs will benefit greatly from this point as they will get housing and work.
9.The diversity of the real estate market in Turkey:
which motivated The Arab investors to buy a property in Turkey the infinite options of the real estate available to them, including commercial and real estate, for example, smart apartments that provide a range of services that are not provided by ordinary apartments, such as opening doors with a special card or fingerprint that is previously defined in the database of the home information network, and its owner can control all the devices around it, such as air conditioning and cooling devices electronically and remotely as well, and it also contains security alarms and surveillance devices that send an immediate alert to the owner of the house or in the event of any emergency while he is outside the house or when any attempted theft occurs.
One of the most demanding types of real estate by the Arab is residential complexes with its strong infrastructure and social environment that has become attractive to it because of the integration of its services, which differ in content from one residential complex to another such as gardens, walkers, football stadiums, basketball, tennis, and playgrounds for children because they are safe, sports halls, outdoor and closed swimming pools, Turkish baths and saunas, as well as massage rooms, in addition to caravans and security services that include preventing the entry of strangers and surveillance cameras that operate 24 hours a day and other protection measures.
10.Infrastructure in Turkey:
The novelty of the infrastructure in Turkey cannot be overlooked, as it includes a distinctive network of services of all kinds, such as schools, hospitals, malls, and transportation, including air, land, and sea transportation, with high-quality technologies and at low prices.
Conditions for buying real estate in Turkey for Arabs:
The Turkish government has set some restrictions for Arabs and foreigners wishing to own real estate in it, including:
- They are not entitled to purchase a property near security or military areas before obtaining approval from the competent authorities.
- No Arab person can own land or real estate that exceeds 10% of the total area of the area.
- The Arab investor must not buy a property with an area of more than 30 hectares.
The most owned Arab nationalities of real estate in Turkey:
The successive crises, upheavals and wars that have taken place in the State of Iraq have prompted quite a few Iraqis to turn to the Turkish State because it enjoys political and economic stability suitable for residence and investment. This is one of the most important reasons that led Iraqis to buy real estate in Turkey, as they are at the top of the list of Arab nationalities owned in it.
The citizens of the State of Kuwait won the second place among the Arab countries in real estate ownership in Turkey and the first place in the Gulf. In one year, they buy hundreds of different types and places of real estate.
The State of Yemen and its citizens ranked third. The number of real estate purchased by them reached 1332 real estate.
They were able to be in fourth place over the most owned Arab countries in Turkey with a balance of 1,296 properties.
Cities where Arabs buy Turkish real estate:
Through this paragraph, we will present you with a list of the most densely populated Turkish cities:
First- Istanbul City:
Arab investors are now able to establish real estate projects and invest real estate in Istanbul, which is the economic capital of the Turkish state, and it also has a strategic location that supports it to be the best city not just in Turkey, but in the entire world, as it connects the two most important continents of Asia and Europe, and Istanbul includes hundreds of real estate projects close to tourist areas and service facilities, and the largest percentage of which were of Arab nationalities.
Many Arab investors, especially those from Iraq and the Arab Gulf countries from Saudi Arabia, Qatar, Kuwait, Oman and Libya, were able to buy real estate and invest their money in distinctive and successful investment and real estate opportunities in the most prestigious areas in Istanbul, especially in Turkey in general, such as Basaksehir, Beylikduzu, Sariyer and Sisli, through which they achieved optimal profits in practice, most notably investing near the new Istanbul airport and buying dozens of agricultural plots next to the new Istanbul Canal, which works to connect the Black Sea with the Marmara Sea.
The city of Istanbul is the largest city and is seen as the cultural, economic and financial center of Turkey. The area of the city covers 39 provinces that constitute the province of Istanbul, which is located on the Bosphorus Strait and surrounds the natural port known as the Golden Horn located in the northwest of the country.
Second – Bursa City:
Real estate investment in Turkey is generally considered one of the distinctive economic activities in the world, which made it a point of attraction for many Arab investors, and among those Turkish cities famous for real estate investment in Turkey is Bursa City, the city of Al-Jawhara for its luxury and distinctive real estate in the heart of nature, which made it a destination for many foreign investors, especially the Arabs who are stationed in it.
Bursa City is characterized by a huge number of apartments intended for real estate investment, and it is characterized by being a combination of options for those wishing to invest in Turkish real estate, such as apartments with a sea, natural or interior view, in addition to the diversity of the number of rooms, their areas and their location.
Because green Bursa is located in a distinctive geographical location and is distinguished by the most important archaeological, natural and service features, which made it a destination and the focus of attention for tourists and investors from various parts of the earth, especially those of Arab nationality, in addition to the large number of forests, one of which includes the historical tree and the famous Green Valley in addition to containing the historical monuments and monuments that tell the story of the Ottoman Empire, which made it attractive to Arab investors that they provide them with all kinds of services they need, such as Arab schools.
third- The City of Antalya
Arab investors have turned to the real estate sector in Antalya, especially after the series of facilities provided by the Turkish state to them, so they have surpassed foreigners in ownership in this city, and despite the beauty of its nature and location and the sophistication of its services and resorts, the price of real estate in the city of Antalya is considered low and encouraging if we want to compare it to the price of another property with the same specifications but located in a coastal tourist city in one of the European countries whose prices are doubled.
The city of Antalya has a high level of services in the fields of electricity, water and communications, as well as health care in advanced hospitals equipped with one of the medical devices and means, and education in important schools and universities, and its beaches and gardens are clean and safe with easy access to transportation without suffering from distances or congestion with a large number of shops, restaurants and luxury cafes.
The increasing number of tourists in the city of Antalya makes it one of the most important cities in the world for real estate investment, as this city is witnessing a great demand in the number of tourists from Europe and in a greater proportion of Arab countries, as Antalya enjoys an international airport with direct lines for most countries of the world.
The city of Trabzon ranked fifth on the list of the most sold cities for real estate in Turkey, and some Arab nationalities had the largest share in this competition, and the investments of Arab businessmen in Trabzon contribute to the high tourism rates and vice versa, as the increase in the flow of Arab tourists to it was one of the most important factors attracting Arab investments to it, and the Turkish state’s interest in serving the city and nearby areas and providing all the needs of its residents, and it also worked to provide all the facilities for Arab investors and people wishing to buy real estate in it.
The order to buy real estate in the city of Trabzon and settle in it is ideal for people who are looking for a healthy life. The air is clean and the pollution index in the city is minimal. There are no large factories or industrial facilities in the city, and it is also famous for the existence of many types of agricultural crops and animal farms that cover the food needs of the population.
With the rise of investment opportunities and Turkish government incentives for those who are going to buy apartments and real estate in Turkey, the demand of investors from all over the world has increased towards Turkey, specifically the Arabs who are at the top of the ownership list in this prestigious country due to several reasons, the most important of which is its proximity to their country.
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