In this article, we will review the most important answers and clarifications to Saudi investors regarding the real estate ownership in Turkey, such as:
What kind of real estate can the Saudis own?
How many Saudi companies invest in Turkey?
What is the ranking of the Saudis on the list of most nationals that owns a real estate in Turkey?
What services does the Saudi Consulate in Istanbul offer to its citizens who wish to invest in real estate?
At the end of the article, a new video episode entitled "Real Estate is the best decision" entitled "The Ownership of Saudis in Turkey". Prepared and presented by Abdullah Al-Hammad CEO of Imtilak Real Estate.
The interest of the Saudis in the Turkish real estate market
Saudi investors are at the top of the list of foreign investors within the various investment sectors in Turkey, including the real estate sector.
The number of Saudi companies that invest in the real estate sector of Turkey more than 400 companies, with Saudi capital.
Saudis have become more interested in property ownership in Turkey recently, with Saudis occupying the second most foreign owners of real estate in Turkey over the past five years.
This is due to the large government support for investment programs, tax exemptions, and residency programs, in addition to the Turkish Citizenship Law, which gives the right to grant citizenship for those who own a property worth one million dollars.
Saudi investments Are Wise
We in Imtilak Real Estate through our great experiences with Saudi real estate investors in Turkey, we found that Saudi investments in Turkey are wise where the Saudi consulate in Istanbul, within the Saudi Embassy, provides unlimited consulting services to all Saudi investors wishing to own in Turkey. The consulate can inquire about all the Turkish projects and projects that are implemented in Istanbul in particular and Turkey in general.
The best real estate projects for the Saudi investor
In choosing the most appropriate project for the Saudi brothers who wish to own in Turkey, we at Imtilak Real Estate provide consultancy services and select the best investment projects in Turkey in terms of location, views, and feasibility of real estate investment.
The growth of Saudi real estate investments in Turkey
In the data of the Turkish Statistical Institute, we found that the number of Saudis who owned real estate in 2017 exceeded 3300 properties by 100% compared to 2016, thus the Saudis were the second most foreign nationalities that owned real estate in that year.
Properties that a Saudi citizen can own in Turkey
As Saudi interest and Saudi Arabia's real estate investments surged in Turkey, there were many questions about real estate that Saudis could own in Turkey, and what types that Saudis can own in the Turkish real estate sector.
In accordance with the 2012 law on foreign nationals entitled to own property in Turkey, the law on reciprocity on the subject of foreign real estate ownership in Turkey was identified, where restrictions on the ownership of some foreigners have been lifted. Saudi Arabia is one of the countries that is entitled to own real estate in Turkey without any restrictions or conditions. Thus, the Saudi nationality holders enable them to own all kinds of real estate in Turkey, includingapartments, villas, shops, commercial offices,Stores, hotels, buildings, land, farms and other types of residential and commercial properties.
Legal documents required to complete the procedure for the Saudis ownership in Turkey
In order to complete the real estate ownership procedures in Turkey and the works of the title deed, the following are required:
1- Getting a tax number.
2. Translation of the passport into Turkish.
3. Ratification of the passport translated by the notary public or through the Turkish embassies abroad.
4. Two personal photographs.
5 - Paying the fees of the title deed.
6 - The presence of the owner or his official agent, under the submission of a notarized power of attorney, or through the Turkish embassies abroad.
You can watch the rest of the episodes about the ownership of the other nationalities in Turkey in this series, such as the Palestinians ownership, The Jordanians ownership, and The Yemenis ownership.