Reasons attract Kuwaitis to buy real estate in Turkey:
The real estate market in Turkey has received the attention of many Arabs during the past years, and Turkey has become the most appropriate option for their aspirations and conditions, and among the most popular people buying real estate in Turkish cities are Kuwaitis, and they have become a prominent name in the field of real estate investment in Turkey and the number of properties owned by Kuwaitis during the past year reached 1903 Real Estate The number of Kuwaiti tourists in Turkey during the year 2019 reached more than 49 thousand tourists.
What are the reasons that attract Kuwaitis to buy real estate in Turkey?
- Kuwaitis are of nationalities that have the right to own any property in Turkey, and therefore there are no restrictions on Kuwaitis' ownership of real estate in Turkey.
Existence of luxury residential properties for tourist accommodation (villas - palaces - chalets).
Provides wide offers for investing in tourism real estate, such as hotels, restaurants and tourist resorts.
- The charming nature of Turkey, which makes it a place to stay for comfort and relaxation.
The cultural, religious and social affinity, customs and traditions between the Turkish and Kuwaiti peoples.
Turkey is characterized by a moderate climate in the summer, which encourages Kuwaitis to stay in tourism during the summer holidays.
The political and social stability in Turkey, which makes it a desirable destination for investment, residence and tourism for Kuwaitis.
Its geographical proximity to Kuwait, as it is only 3 hours away by plane.
The lack of real estate opportunities in Kuwait for those who own small capitals.
Economic growth and safety in Turkey provides a safety factor to ensure a long-term profitable investment.
- Real estate prices in Turkey are lower than real estate prices in Kuwait and the Gulf countries in general.
- Existence of government incentives that are granted to investors and businessmen, including exemptions from value-added tax for first-time buyers.
The scarcity of housing projects and land suitable for construction in Kuwait.
Providing the advantage of paying in installments when buying a property in Turkey in convenient monthly installments.
- The presence of a large number of Arabs in Turkey, which provides human resources that are intensively engaged in Kuwaiti real estate projects in Turkey.
- The existence of the Kuwaiti Turkish Bank, which facilitates many transactions of paying for the property from outside Turkey for Kuwaitis, in addition to providing real estate loans to Kuwaitis.
- The existence of real estate laws to help foreigners own real estate in Turkey and ease of legal and official procedures that help Kuwaitis invest in Turkey
Obtaining real estate residence permits when buying a property in Turkey.
Obtaining Turkish citizenship when buying a property in Turkey worth 250 thousand US dollars.
- Real estate prices in Turkey remained in Turkish lira despite the decrease in the Turkish lira's exchange rate against the US dollar, which constitutes a profitable opportunity for foreign investors to buy a property in Turkey.
- The presence of educational opportunities of advanced level, high quality and low costs in Turkish schools and universities, in addition to the provision of many educational scholarships by Turkish universities.
In which areas do Kuwaitis prefer to buy real estate in Turkey? Why?
Usually, those who want to invest in real estate in Turkey, head to major cities such as Istanbul and Bursa.
- As for those who wish to buy a property for tourism and recreation, they head to areas in Yalova, Antalya, Bursa, Kush Adası, Bodrum, Marmaris, Fethiye, Kusudasi and other tourist areas due to the beauty of their views, climate and nature.
Istanbul acquires 70% of the Kuwaiti ownership of real estate in Turkey, and the other 30% is distributed over a number of Turkish regions.
- The number of Kuwaiti companies operating in the Turkish market is estimated at about 300 Kuwaiti companies, 30% of which invest in the sectors of stocks, nutrition and clothing, while 70% of them invest in the real estate market.