Feb 5, 2023

Learn About Gulf Investments in Turkey Real Estate Sector

The Gulf people in Turkey constitute the basis for most foreign investments in Turkey in various sectors. The real estate sector in Turkey is the most attractive for Gulf and foreign investments in general, but the Gulf people have a special taste that distinguishes them from other foreign investors, and the Gulf money that flows into the real estate market in Turkey is still a focus for real estate, construction and contracting companies in Turkey.. In this article, we will mention everything that needs to be known about the issue of Gulf investments in the real estate sector in Turkey.

In just 4 years, Gulf people bought more than 22 thousand properties in Turkey, and real estate sales to Gulf citizens in Turkey constitute about 21.6% of the total real estate sales sold to foreigners in Turkey.

In 2017, more than one and a half million square meters were sold to Gulf citizens in Turkey, while it increased in 2018 to more than three million square meters sold to Gulf citizens in Turkey. The largest share of these sales was Saudi Arabia, which amounted to about half a million square meters and increased to about 912 thousand square meters in 2018, as Saudi Arabia acquires nearly a third of the real estate areas in Turkey that were bought by Gulf Arabs.

The Saudi community in Turkey has maintained its second place after the German community in terms of real estate spaces that they buy in Turkey, and it is also ranked third in the number of real estate deals in Turkey after the Iraqi and Iranian communities.

What types of real estate do Gulf residents prefer:

In terms of the property's location:

Istanbul ranks first in terms of its attractiveness to Gulf investors because of the new and huge projects in the city that encourage real estate investment in it, in addition to the similarities between real estate in Istanbul and European and American real estate, which made it the focus of attention of Gulf investors.

You can also notice a demand from the Gulf people to buy property in Turkey in the areas of Trabzon and Antalya because of their touristic status, as they are suitable for both residence and investment.

As for the villas and palaces owned by the Gulf people, they are in rural and quiet areas, such as the Jabza area, in which the famous Prince Mohammed bin Rashid Al Maktoum Palace was built.

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In terms of the purpose of buying the property:

There are many types of real estate investment in Turkey, including residential investment and commercial investment, including what is for the purpose of residence or in order to obtain Turkish citizenship, but in general, the purchases made by the Gulf people are based on luxury housing in the first place, and if the goal is real estate investment, it will be It is a long-term investment to benefit from the rise in real estate prices after a period of time.

The Gulf people have greatly benefited from the devaluation of the Turkish lira against the US dollar last year. Turkey imposed the pricing of real estate in the Turkish lira exclusively, which attracted the Gulf people to palaces, especially the Ottoman and historical ones. The Bosphorus and its surroundings witnessed the purchase of historical palaces by the Gulf people, estimated at about thirty palaces, The Qataris had the largest share of it.

In terms of property area:

Gulf people tend to buy large and spacious real estate, and therefore we note that they are at the fore in the real estate sold.

Is Gulf investment in Turkey affected by the political situation?

In short, we can say that Gulf investors choose a certain form of investment in Turkey, including those related to energy and gas, "Qatar", including those related to the export of cars, "Bahrain", and others that are concerned with decorations and home furniture "Sultanate of Oman", and some of them dive into several fields, the most important of which is the real estate field "Saudi Arabia and Kuwait".

Therefore, it cannot be imagined that important relations such as Turkey's with the Gulf states would be affected by media falsities that would destabilize the political situation in the country.

Why do Gulf people invest in the Turkish real estate market?

Real estate investment is a safe portfolio of money with high profits, and it is the goal of foreign investors to invest in Turkey, but for the Gulf nationals, they have other, broader reasons behind their entry into real estate investments in Turkey, the most important of which are:

Turkey is a Muslim country that is suitable for the establishment of Gulf families for long periods without being affected by the negative view directed at Muslims in Western countries, or what is known as “Islamophobia.”
The collapse of real estate markets in several Arab regional countries such as Egypt, Iraq, Syria and Algeria, and the rise of the Turkish real estate market in return.
The interest that Turkey shows in real estate exhibitions in Turkey and abroad, especially in real estate exhibitions in Gulf capitals such as Doha, Riyadh and Dubai, which attracted the attention of Gulf investors and their proximity to Turkish real estate developers.
Considering that Turkey is a tourist country that enjoys all the factors that attract and attract tourists from the climatic, natural and archaeological aspects, it made Turkey an excellent destination for Gulf tourists, which encouraged the idea of buying property in Turkey and staying in it during the tourist holidays.

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