Turkey, as a country is well known to be an attractive tourist destination. From medical facilities to overseas property, Turkey has witnessed a steady growth in the number of visitors for either vacations, or business purposes.
Turkey includes a majority of visitors coming from countries like Iraq, Kuwait, UAE, and Saudi Arabia. In fact, 40% of Turkey’s visitors are Arabs more so, for the purpose of investment and buying properties in Turkey. Sales to foreign investors became popular in 2015, with Arabs accounting for a majority of sales. Turkey has contributed greatly to the arab investment turkey program.
Titles
Reasons for Arab investment in Turkey
- Arabs are known for buying mansion like properties and Turkey serves to fulfill their purpose. Being a connection between the East and the West, investing in properties became an enchanting site for the Arabs. Turkish real estate prices are cheaper compared to Europe and America. A close geographical location made it easier for Arabs to invest in Turkish properties.
- Turkey has an environment and atmosphere very close to the culture in Arab countries. For Arabs it feels like home to be in Turkey. Many Turkish people are Muslims having very similar customs and traditions.
- The Turkish government has implemented laws stating that any foreign investor who invests in Turkey's real estate with a sum of at least US $250,000 will be granted Turkish citizenship. This lead to an increased demand for arab investment turkey.
- Turkey being a tourist attraction, has paved the way for Arabs to think about investment in Turkey. With Arabic-speaking hotel staff, workers, and guides, it has become so much more convenient for Arabs to visit Turkey and enjoy their stay.
- Turkey is a great place to flourish in your business, especially in hospitality service. In the sense that because Turkey is a famous tourist spot, visitors from across the globe visit Turkey. A majority of them being from the Middle East. Turkey receives and welcomes over 40 million visitors every year. This lead to a number of Arab entrepreneurs entering the hospitality business in Turkey.
- Turkey is an emerging state in terms of medical and educational scope. The medical facilities in the State attract people from many parts o the world. Even the academic sectors impart quality education at a very reasonable cost.
Significant real estate areas by Arab investment in Turkey
Iraq purchases of real estate properties are now leading the list of real estate investing in Turkey. The number of Arab invested properties have doubled over the years. Istanbul, a major city in Turkey, has attracted most real estate property investors. According to statistical analysis, Istanbul has been the most attractive city for Arab investors with its cultural heritage. Areas surrounding Bosphorus, such as Kandili and Bebek, are preferred by Arabs because of their exuding class and status. Beachfront villas in posh Istanbul have contributed to the arab investment turkey. The city of Trabzon, with its scenic beauty and abundant natural beauty on the shores of the Black Sea, serves as a remarkable Arab investing area.
The historic city of Bursa, Bosphorus areas like the Vanikoy, Kandili, Bebek, Sapanca Lake, and Karpete has been an Arab attraction. It has now been proven and declared by the Turkish government that Arabs are the most committed investors in their State with a booming investment environment.
Conclusion
Despite all attractions, the one major reason that encourages Arabs to invest in Turkey is their love for the nation because of the way Turkey connects them to the West. In spite of being two distinctive nations, the cultural similarities are what draw Arabs closer, paving a smooth way for arab investment turkey.
