The interest of foreign investors in real estate investment in Turkey in particular has increased to become one of the most preferred investments by them. It has been noted that the number of Arab investors has increased significantly and their entry into the real estate world in Turkey and their integration into the Turkish real estate market. Among the most Arab nationalities that have entered the real estate field are the Algerians What are the reasons that encouraged them to do so? This is what we will learn together.
The reasons that encourage Algerians to buy real estate in Turkey:
1- Low real estate prices in Turkey: Real estate prices in Turkey are very reasonable and anyone can buy a property in Turkey, despite its excellent specifications, and this is a unique opportunity for anyone who wants to own real estate.
2- The various options for real estate in Turkey: What distinguishes the real estate market in Turkey is the great diversity of real estate, as it is possible to find cheap apartments for sale in Turkey, and luxury properties such as villas in Turkey, palaces, and others can be found, so everyone can get what suits him.
3- The crisis experienced by the Algerian dinar: Like the rest of the countries in the Middle East and North Africa, the economy of these countries is greatly affected by the surrounding conditions and this leads to the depreciation of the local currency and consequently the loss of many funds, and this is why Algerian investors resorted to insuring their money By investing in real estate in Turkey because it has a solid and stable economy.
4- Opportunity to obtain Turkish citizenship: According to Turkish laws, foreign investors can obtain Turkish citizenship by buying a property in Turkey with a minimum value of 250 thousand US dollars, and this is certainly a golden opportunity that does not miss for Algerian investors to enjoy the advantages of Turkish citizenship and hold a Turkish passport Which allows entry to a large number of countries around the world without the need for a visa.
5- The stagnation of the real estate market in Algeria: According to statistics and studies, the real estate market in Algeria is not living its best days, but rather it suffers from stagnation and lack of buying and selling movement, and this is what prompted real estate investors to search for alternatives and the choice fell on Turkey With its nature close to the Arab countries and the many facilities provided by the Turkish government to foreign investors .
6- Encouraging Turkish laws: Several laws and amendments were issued that encouraged Algerians to buy real estate in Turkey, perhaps the most important of which was the abolition of the reciprocity law, which was only allowed to own real estate in Turkey for foreigners whose countries allow Turks to buy real estate on its land, and the Reducing the value of real estate taxes so that foreigners are treated like Turks, in addition to reducing the amount needed to obtain Turkish citizenship through real estate investment, which has become 250,000 dollars after it was 1 million dollars.
7- Obtaining residence in Turkey: If the investor is not able to collect enough money to apply for Turkish citizenship, he can at least obtain a residence permit in Turkey when he purchases property in Turkey, whatever its price, with the possibility of renewing this residence and from it to family members from Wife and children.
- Statistics and figures for the ownership of real estate in Turkey by Algerians:
Speaking in terms of numbers, we will notice the significant increase in the number of properties purchased by Algerian investors on Turkish lands, as in 2018 the number of properties purchased reached 56 properties, and in the same month of the following year, in 2019, the number of properties in Turkey that were 199 properties were purchased by the Algerians, and with this we find that real estate sales increased in one year by 225%, which is a very large percentage.
Also, in 2019 specifically, Algeria managed to become among the first twenty countries to buy real estate in Turkey, where it was able to occupy the seventeenth place.
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