Buying a house in Turkey – Buying a property in Turkey for Algerians
Many Algerians recently want to buy a house in Turkey, looking to invest their money in Turkish real estate, and seeking to elicit accurate information about Turkish real estate from the right sources.
Returning to the text of the Turkish law related to buying a house in Turkey for foreigners in 2012, we note that there is nothing to prevent Algerians from owning real estate.
According to the data of the Turkish Statistics Department, the purchase of a house in Turkey by Algerian owners has increased in recent years, and their interest in Turkish real estate in general has increased.
Especially after the decision to grant Turkish citizenship to investors for the year 2018, where it became possible to obtain Turkish citizenship in exchange for a real estate investment of only 250 thousand dollars instead of one million US dollars..
In 2018, the Turkish passport made great progress and ranked 39th in the world, allowing its holder to enter more than 72 countries without obtaining a prior entry visa, as well as to more than 42 countries with an entry visa issued upon arrival, and more than 7 countries grant the Turkish passport holder Online electronic entry visa.
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– Algerians own property in Turkey – What are the allowed real estate ?
Turkish law allows Algerians to own all real estate in Turkey, such as houses, apartments, villas and commercial real estate, including shops, offices, stores, hotels, buildings, agricultural and residential lands..
Documents required to buy an apartment in Turkey for Algerians :
Those who want to buy an apartment in Turkey or who want to own a property in Turkey should acquire the following papers:
- Extracting the tax number from the tax department in any Turkish province.
- Translating the passport into Turkish and attesting it from the Notre.
- Two personal photos of the person concerned.
- Pay the Tapu fee (4% of the property value).
- The presence of the concerned person or his official representative, according to the presentation of an official power of attorney authenticated by a notary public.
- Opening a bank account in Turkey, in order to facilitate bank transfers between Algeria and Turkish banks.
The reasons that encourage Algerians to buy real estate in Turkey
1- Low real estate prices in Turkey: Real estate in Turkey is fairly affordable, despite its excellent specifications, and this is what drives many Algerians to invest in it.
2- Diversity of real estate in Turkey: The real estate market in Turkey is characterized by the great diversity of its properties that correspond to the requirements of Algerian investors of low-priced apartments and high-priced homes such as villas and palaces..
4- Opportunity to obtain Turkish citizenship: According to Turkish law, a foreign investor can obtain Turkish citizenship by buying a property in Turkey with a minimum value of 250 thousand US dollars, and this is a golden opportunity for Algerian investors through which they enjoy the advantages of Turkish citizenship and hold a Turkish passport that allows entry A large number of countries around the world without the need for a visa.
6- Encouraging Turkish laws: A statement was issued by the Turkish law stipulating the abolition of reciprocity that prevented foreigners whose country does not allow Turkish ownership of property in Turkey, in addition to reducing taxes imposed on real estate in Turkey.
– Statistics of real estate ownership in Turkey by Algerians :
If we go to the language of numbers and statistics, we will notice a significant increase in the number of properties purchased by Algerian investors on Turkish lands. In 2018, the number of properties purchased reached 60 properties, and in 2019 the number of properties in Turkey that were purchased by Algerians 205 real estate and this indicates that real estate sales rose within one year by 225%, which is a very large percentage.
In addition, in 2021 the Algerian investor became one of the first ten foreigners in Turkey to buy real estate in Turkey, and this indicates the Algerian’s interest in investing in Turkey and the extent of the facilities provided by the Turkish government to him.
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