Why are Arabs in the favourite list for real estate investment in Turkey?

The numbers of Arabs' heading for real estate investment in Turkey during the past few years reflect the great interest and facilities granted by the Turkish government to investors from the Middle East countries, the Gulf and the Arab Maghreb in particular, with the aim of buying property in Turkey.

This paragraph quoted from one of the Turkish economic magazines, which wrote a detailed article on real estate investment in Turkey by Arab nationalities, confirms the great interest that the Turkish government attaches to Arabs wishing to purchase property in Turkey for the purpose of housing, investment or obtaining Turkish citizenship.

Turkey has turned during the last ten years to the first tourist, economic, and real estate destination of the Arabs, as they rush towards buying property in Istanbul, Trabzon, Bursa and Antalya their favorite destinations, and it is not limited to one buying process where some investors who bought properties for the purpose of ownership have become commercial Competitors in the Turkish real estate market, multiplying their wealth in a few years due to the dynamism and the large movement witnessed in the activity of buying and selling property in Turkey, which classified it among the best suitable environments for real estate investment in the world.

Factors that attract Arabs for real estate investment in Turkey

There are a lot of motivations that were the reason behind the well of Arab investors to buy property in Turkey, such as the strategic location, natural and historical beauty, Turkey's economic position in the world, and strong infrastructure, but the most important factors that contributed to attracting Arabs strongly to buy property in Turkey of all kinds are the facilities approved by the Turkish government and the private sector in all procedures for buying a property in Turkey.

In what follows, we will list to you the most important points that Turkey has included in the procedures of owning properties specifically for Arab investors in order to increase the percentage of buying property in Istanbul and other cities:

• Adoption of a law that abolishes reciprocity, as it was previously required for foreigners wishing to purchase property in Turkey, that their countries allow Turks to purchase properties on their soils too until Turkey in 2012 issued a decision allowing any foreigner to "own property in Turkey" without taking into account Consideration of the reciprocity law even if the countries of the investors do not allow the Turks to own real estate in them, hence a real renaissance has begun in the real estate sector in which the rates of foreigners buying property in Turkey have grown year after year as it reached 25% in its first year, and Turkey's first customers became the Arabs in the place of Russians and Ukrainians , after only three years of approving the text of the abolition of reciprocity, Iraq topped the list of foreign investors who buy property in Turkey the most, followed by Saudi Arabia 
• Take advantage of obtaining a real estate residence with the ease of renewing it for every Arab who owns property in Turkey, whatever the value of his investment in addition to his ability to grant it to his family members, which made thousands of Arabs, especially from the Middle East and Gulf countries, reside in Turkey according to the real estate residence that entitles them to practice many tasks, including opening investment projects and enjoying all rights such as the Turks, except those related to political powers, such as opening parties, voting and participating in referendums, and others.
• Benefiting from the decision to abolish the value-added tax, as Turkey is one of the few countries in the world that exempted foreign property owners from value-added tax according to a law passed by the Turkish Parliament in 2017 for expatriates and foreigners who want to own, provided that the property is paid through Turkish banks and in foreign currencies. This decision continued until March 2019, which prompted a large demand for the purchase of the property by the Arabs, given that the abolition of the value-added tax, which ranges from 1 to 18% of the price of the property depending on its type, region and level of construction, formed a positive point that contributed to raising the percentage of real estate sales in Turkey during that period .
• Benefiting from the positives of selling properties in Turkish lira only, as Arab investors can buy a property worth 70 thousand dollars after they were buying it earlier at 100 thousand dollars due to the low value of the lira against the dollar, and the stabilization of prices of property in Turkey in Turkish lira has also helped protect Turk investors affected by the effects of the fall in their local currency and at the same time enabled the Arabs to benefit from the move thanks to the maintenance of real estate at its original price in Turkish lira in exchange for the devaluation of the currency, which was reflected positively on the Arab investors who were dealing in dollars.
• Obtaining Turkish citizenship by investment and benefiting from the advantages of the Turkish passport is one of the biggest incentives that encouraged Arabs to possess property in Turkey, especially with the unstable security situations witnessed by many Arab countries and the need for these to a stable country like Turkey that provides them with citizenship and guarantees them a safe and successful investment that doubles their financial wealth, which made many businessmen and wealthy Arabs head to Turkey and they transferred their business and commercial activities to it, as it is the most fertile environment in the Middle East region for profits.
• Extensive participation and strong presence in international real estate exhibitions where Turkey is always working to highlight the aesthetic of its real estate designs in all countries of the world, including the Arab countries, and the activities that Turkey has participated in or organized in recent years have made it the number one destination for Gulf investors and Palestinian investors due to the incentives provided to them regarding the prices of apartments in Istanbul, for example, and other benefits.

Turkey continues its policy of attracting Arab investments by updating the package of legal legislations related to the process of real estate investment in Turkey in favor of doubling the numbers of Arab investors in its various regions, especially real estate attractions such as real estate in Basin Express, cheap apartments in Zeytinburnu, real estate for sale in Maslak, luxury real estate in Kayasehir, buying real estate in Kadikoy, real estate for sale in Sakarya, luxury apartments in Uskudar, low-priced apartments in Başakşehir, cheap apartments in Esenyurt, selling apartments in Buyukcekmece, real estate for sale in Sisli, and real estate for sale in Avcilar.