|Thursday, January 12, 2023
The Iraqis ranked first among the people who buy the most real estate in Turkey, and the
In search of comfortable stability and profitable investment, and in order to avoid wars and political, security and economic crises, increasing numbers of foreigners are heading to Turkey, and statistics have shown that foreigners have purchased 67 thousand and 322 properties in Turkey (6 thousand 307 real estate lands, and 61 thousand and 15 apartments) only within Last year 2019, in which the Iraqis ranked first among the people who buy real estate in Turkey , the British came in third, then the Germans fourth, the Russians ranked fifth, and the Saudis ranked sixth. Istanbul topped the list of the most attractive cities for foreign real estate buyers in Turkey, where 25,872 apartments were sold to foreigners last year, followed by Antalya, then Ankara and Bursa. What makes Iraqis go to buy real estate in Turkey ?
Reasons that encourage Iraqis to buy real estate in Turkey:
Unrest and crises inside Iraq:
The successive crises, unrest and wars that Iraq witnessed prompted large numbers of Iraqis to go to Turkey as it enjoys political and economic stability suitable for residence and investment, and this is one of the most important reasons that prompted Iraqis to own real estate in Turkey .
The presence of the Arab and Iraqi community:
Turkey has a large number of Arab residents, whose number is close to 7 million, including businessmen, students, and refugees, which created a comfortable environment for Iraqis who wish to settle in Turkey without feeling any kind of racism or alienation there.
The proximity of Iraq to Turkey and the common border between the two countries is a factor that makes it easier for Iraqis to travel and reside in Turkey, and thus encourages them to own real estate there.
Presence of recognized Arab schools:
Many Iraqis accept to reside in Turkey when they are sure that there are opportunities to educate their children in schools that suit them. The number of schools in Turkey that are recognized by the Iraqi Ministry of Education has reached 27 schools in various Turkish cities.
The possibility of obtaining Turkish citizenship:
Turkish laws allow foreigners to obtain Turkish citizenship when buying a property or group of real estate for an amount of $250,000 or more, provided that it has not been sold for at least three years.
Turkish real estate laws contribute to encouraging Iraqis to own property and real estate investments in Turkey, after allowing them to buy real estate of all kinds after obtaining the approval of the Ministry of Interior and the Turkish Ministry of Foreign Affairs.
Granting real estate residency when buying a property:
The Iraqi who bought real estate in Turkey obtains the real estate residency that allows him to legally reside on Turkish lands, move, travel and enter Turkey without the need for a visa, and not only alone, but also his family members (wife and children under the age of 18) get it. This residence permit is renewed annually.
Diversity of offers on real estate in Turkey:
Turkey offers an ideal opportunity to choose the property according to the most appropriate specifications due to the presence of a large number and variety of offers on all forms of real estate and in various regions on the vast Turkish lands, in addition to the advantage of buying the property in long-term installments, and Turkey also allows foreigners to obtain a mortgage from banks to be able to of buying a home.
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