Real estate investment statistics in Turkey in terms of its growth among Arabs are increasing because it has become an aesthetically distinctive geographical kiss in terms of terrain and beautiful nature, so it has taken its share of tourism globally as an important economic tributary and the other tributary mediated between three continents, which made it an important commercial and industrial center and added to that the facilities provided by the Turkish government to attract foreign investments.
In this article, you will learn about the most important information related to the purchase of houses by Algerians in Turkey and the most important reasons that prompted them to take Turkey as their destination.
Why do Algerians choose to buy a house in Turkey?
There are many reasons that encourage foreigners in general, including Arabs and Algerian citizens, to search for homes for sale in Turkey, and through the following paragraph you can see each in detail:
Turkey’s Fresh Economy:
One of the most important reasons for the Algerian citizen to buy a house in Turkey is that it is economically sophisticated and refreshing and has managed to outperform many other economies of the world thanks to its young population and the many strategic plans developed by the Turkish government.
What you do not know is that a strong economy has a high impact on all sectors in the Turkish state, especially the real estate sector, where it contributes to the increase in its value and price continuously, which ensures that you receive abundant profits.
Geographical location of Turkey:
Turkey occupies a distinct geographical position in the middle of the world and between three continents and oversees four seas, which gave it a lot of importance and is also considered close to the Arab world and is especially close to the brown continent.
This exceptional location made it easy to travel to and from Turkey at low cost and convenience without spending a lot of time, effort and fatigue.
Obtaining real estate residence permit:
Among the main reasons that drive foreigners to own real estate in Turkey is the desire to obtain real estate residence permit, which is considered one of the most important types of residence permit in Turkey due to the many privileges that can be obtained through it, in addition to the ease of applying for it.
Applying for Turkish citizenship:
Most of those who want to own real estate in Turkey choose to obtain Turkish citizenship in exchange for buying a property with a value of at least four hundred thousand US dollars and committing not to sell it before the passage of at least three years.
Turkish citizenship offers its bearer many privileges and positives, and this is what encouraged foreigners to obtain it, especially investors, as it opens up wider avenues for them to obtain abundant profits.
Government facilities and support:
The Turkish government did not hesitate to provide all the privileges that help the investor in the process of buying a house in Turkey, such as through reduced taxes and exemption from the value of the added tax for the foreigner who owns it for the first time.
Add to your information that buying the property in Turkey takes only a few simple procedures and days.
Proper property prices:
If you want to compare prices between European countries and Turkey, you will find that real estate prices in Turkey are cheap and appropriate, in addition to its high luxury and modern designs.
Documents required to buy an apartment in Turkey for Algerians:
Who wants to get an apartment has to bring some official papers:
- Extracting the tax number from the tax department in any Turkish province .
- The passport must be translated in Turkish.
- Two personal photos of the investor willing to buy.
- Green Title deed fee (4% of the property value).
- The presence of the investor or his official agent, under the provision of an official power of attorney notarized by the notary.
- The existence of a bank account in Turkey, in order to deposit the amounts required to complete the purchase of the property.
There are some additional basic points that can be explained in order to benefit from it when completing the purchase process and financial and legal procedures such as the amount of the reservation of the property, which is usually about 500$ to 1,500$, and there is a legal term of the contract if the buyer does not exceed it, he can legally terminate his contract.
The title deed fee we mentioned is about 4% of the value of the property, but it can be shared with the seller or you may benefit from the deduction of the amount if the real estate owner company pays for it.
value added tax is calculated on the buyer and is known as kdv, which is a tax paid when buying real estate or investing in urban projects and ranges between 1% and 18% from the value of the property, and it is often 1% for the foreign investor, except for the fact that the invested property is commercial or luxurious with a very large and luxurious area, so the percentage is 18%. There are some exceptions to this and exemptions from the 18% fee.
Important information when buying houses in Turkey:
- Real estate appraisal fees are necessary and are paid to the Turkish Government before the title deed is paid. The fees are assessed by valuation experts and are only about 200 dollars.
- Fees for the opening of basic accounts for living, housing and use, such as electricity, water, gas and the Internet, amounting between 200$ and 300$.
DASK tax paid in order to insure the property against natural disasters such as floods its value is 50 dollars, of course the government in case of disasters pays 190 thousand Turkish liras to the affected people after 30 days
Conditions for the purchase of real estate by Algerians in Turkey:
The same applies to holders of Algerian nationality, which applies to all other nationalities:
– They cannot buy a property in a security or military area.
– Their real estate properties do not exceed 30 hectares across Turkey.
– They cannot buy a property in a region where foreigners own 10% of its total area.
It is advisable to review all laws and steps that must be followed so that the choice is not made incorrectly or inappropriate for the goal to be achieved.
You can visit our website continuously to see the latest and most important news and developments of the real estate market in Turkey, and also do not forget to communicate with our real estate consultant to inform you of the most important offers that are available and suitable for you.
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