The volume of Saudi investments in the real estate sector in Turkey has an important place, as more businessmen flock to it to build their own investments and to build their distinctive projects in light of all the facilities and advantages that Turkey is keen to provide that may be difficult to find in other places.
Table of Contents
- Reasons for Saudi investments in Turkish real estate
- Saudis in Turkey buy luxury real estate
- Papers required to buy a property in Turkey
- Will Saudi investments in Turkey increase?
- The reasons for this are many, but some of the most common include:
- Notes when buying real estate in Turkey
- Do Saudis choose to live in Turkey or invest?
Reasons for Saudi investments in Turkish real estate
- The Saudi government encourages its citizens to invest in Turkish real estate as part of a new economic partnership between the two countries.
- The move comes within the framework of an investment package worth $100 billion that was announced during a meeting between the leaders of the two countries earlier.
- Turkey is one of the fastest growing economies in the world in recent years, and its real estate market is booming as a result.
- In addition to the investment package, the Saudi government is also offering citizenship to any investor who purchases real estate worth $400,000 or more, an unprecedented move that is likely to attract a lot of interest from Saudi investors.
- Turkey is well located geographically, being at the crossroads of Europe and Asia and this makes it an ideal location for companies looking to expand into new markets.
- The real estate market in Turkey is undervalued, as prices are still below their pre-recession peak and this presents a great opportunity for investors to buy low and sell high in the future.
Saudis in Turkey buy luxury real estate
- Whether you are looking for a sprawling mansion or a comfortable waterfront apartment, you will be able to find it in Turkey.
- The luxury real estate market in Turkey is very competitive, which means buyers can get more for their money.
- Turkey is just a short flight from Saudi Arabia, which makes it the perfect place to buy a second home.
- Real estate prices in Turkey, despite all its advantages, are cheap compared to other countries.
- The facilities provided by the Turkish government were not provided by the developed European countries.
- They also invest in commercial real estate because it provides them with a lot of profits over time, thanks to the busy tourist seasons that the country is witnessing.
Papers required to buy a property in Turkey
- You must have your passport with you when you buy a property in Turkey and the passport must be valid for at least six months from the date of purchase.
- You will need a tax number in order to buy a property in Turkey. This number can be obtained from the Turkish consulate in your country or from the nearest tax office in Turkey.
- The title deed is the most important document that proves that the seller is the rightful owner of the property and that there are no outstanding debts or obligations associated with the property.
- You must extract the real estate appraisal document that controls real estate prices and puts sellers in front of the fact that it is not possible to increase the price as they wish. It was established by the Turkish government in order to regulate the buying and selling operations.
Will Saudi investments in Turkey increase?
It is expected that the volume of investment between the two countries, Saudi Arabia and Turkey, will increase during the coming period, especially after the recent agreements that arose between the two countries, and in light of the many facilities provided by the Turkish government, the matter has become very encouraging.
Istanbul is the destination for Saudis to buy real estate
The reasons for this are many, but some of the most common include:
- The city of Istanbul is home to a large number of Saudi students who study at the university there.
- Istanbul is one of the most popular tourist destinations for Saudis, and it has been for many years.
- The city offers a wide range of real estate options, from apartments to villas, and Saudis are increasingly investing in Turkish real estate.
Notes when buying real estate in Turkey
All those intending to own real estate in Turkey should take into account some important details related to this regard in order to ensure that they get the best offers.
1 - Consider the location of the property carefully, is it in a desirable neighborhood? Is it close to public transportation and amenities?
2 - Know the prices in different regions of Turkey and this will help you in negotiating a good price for your property.
3 - Find an experienced agent who knows the Turkish real estate market well, as he will be able to guide you through the process and help you avoid any obstacles.
4 - If you need financing for the purchase, it is a good idea to get pre-approved for a mortgage before starting your search and this will give you an idea of how much you can spend on the property.
5 - When buying a property in Turkey, you will be required to pay a title deed issuance fee of 4% of the purchase price.
Do Saudis choose to live in Turkey or invest?
Saudis have chosen to live in Turkey for a variety of reasons in recent years. The country offers a high standard of living, good schools and universities, and a tolerant attitude towards foreigners. Istanbul in particular is a very attractive city, with its mix of modern and traditional architecture, vibrant nightlife and cosmopolitan atmosphere.
Buy a property in Turkey through the Level Immigration Real Estate Company and get many advantages, as we are keen to provide our customers with many services that start from searching for what suits them according to their budget and goals, and we are also keen to take care of them from many routine procedures that are difficult for them to deal with as a result Their little experience in the Turkish real estate sector.
As for our website, it is the adequate guide for the buyer wishing to own property in Turkey, through which we monitor various and varied topics of interest to you.