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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraqis lead the Arabs in buying real estate in Turkey

    Rocky
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    • Post n°1

    Iraqis lead the Arabs in buying real estate in Turkey Empty Iraqis lead the Arabs in buying real estate in Turkey

    Post by Rocky Tue Apr 27, 2021 3:09 pm

    Iraqis lead the Arabs in buying real estate in Turkey

    •  Time: 04/27/2021 13:17:10
       
    •  Read: 4,043 times

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    {Economical: Al Furat News} Turkey has turned into the preferred destination for foreigners wishing to acquire residential real estate, since the country's ownership law was updated at the end of 2018, to allow those wishing to own the property to obtain Turkish citizenship according to easy terms
    Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. [You must be registered and logged in to see this link.] 
    Globally, Iranian citizenship topped the residential real estate purchases in Turkey last year, with a total of 7,189 properties, up from 5,423 properties in 2019.
    And in second place in the world and first in the Arab world, the Iraqi nationality came with a total of 6,674 properties during the past year, compared with 7,596 properties sold in the previous year.
    While the Russian nationality ranked third in the world, with total properties sold, which amounted to 3078 last year, up from 2893 units in 2019.
    In the list of the top 20 nationalities around the world buying residential real estate in Turkey, there were 8 Arab countries that purchased 13.26 thousand properties in 2020, which are: Iraq, Yemen, Jordan, Kuwait, Palestine, Egypt, Lebanon and Saudi Arabia.
    After the Iraqi Arab nationality, the Kuwaiti came with a total of 1231 properties sold in 2020, then the Yemeni with 1181 properties, followed by the Jordanian with 1080, and the Palestinian with 926 properties.
    After the Palestinian, the Egyptian nationality with a total of 784 residential properties, then the Lebanese with 707 properties, and the Saudi nationality with a total of 679 properties.
    During the first quarter of 2021, the total number of properties sold to foreigners reached 10 thousand housing units, compared with 11 thousand in the corresponding period on an annual basis, which is a positive figure in view of the continued use of travel restrictions in most economies.
    The law of ownership
    In a previous report by the semi-official Anadolu Agency, the number of real estate sold to foreigners in 2013 was about 12 thousand and 181, but the rise in residential real estate sales began since the beginning of 2019, with the amendment of the ownership law.
    In December 2018, the Turkish authorities approved new legislation for real estate ownership, which added facilities for foreigners wishing to own real estate, and made the path to obtaining Turkish citizenship through that step paved.
    And there are several ways to obtain citizenship, including the purchase of one or more properties with a total value of more than 250 thousand dollars (instead of a million dollars previously).
    Among the tools for obtaining citizenship are depositing $ 500,000 in Turkish banks (instead of $ 3 million previously), establishing a company in Turkey with a fixed capital of $ 500,000 (instead of $ 2 million previously), or establishing a company and providing a job opportunity for fifty Turkish citizens.
    In the event that any of the previous conditions are met, the foreign investor will obtain citizenship with his wife and children who are less than 18 years old.
    Analysts believe that reducing real estate investment to 250 thousand dollars has contributed greatly to the demand for buying real estate in Turkey, in order to obtain citizenship, unlike what was in the past, where the turnout was limited.
    And in Article 35 of the Turkish Law - Concerning the Right to Ownership - the foreigner has the right to own in any area of ​​real estate in the country, as long as the property is not located within the scope of military areas or in rural areas or any land belonging to the state in general.
    Forgiveness Al-Khalidi
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