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Properties in Turkey: Broad Prospects for Saudi Investments

: 2018-11-22 Modified date : 2019-03-12

Properties in Turkey: Broad Prospects for Saudi Investments
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Turkish real estate sector is considered one of the most commercial sectors that are attracting investors and Saudis in particular. Studies show that Saudi companies and investments registered a significant increase after Turkey adopted more laws and regulations that help to invest in many sectors such as tax cuts and other facilities that attracted investors significantly.

Over the years, Saudi Arabia has been one of the most foreign countries to invest in real estate in Turkey.

According to data from the Turkish Statistical Institute, Saudis real estate ownership in Turkey for 2017, for example, exceeded 3,300 properties by up to 100 % of 2016, thus Saudis were the second most foreign nationalities that owned the property that year.

In accordance with the 2012 law on foreign nationals entitled to own real estate in Turkey, the principle of reciprocity was reviewed on the subject of foreign ownership of real estate in Turkey and the restrictions on the ownership of some foreigners including Saudi citizens were left. Thus, Saudis in Turkey can own real estate in Turkey without conditions.

Saudi nationality campaign has the right to own all types of properties in Turkey including apartments, villas, shops, commercial offices, stores, hotels, buildings, lands, farms and other types of residential and commercial properties.

Edited by: Imtilak Real Estate ©

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