Property prices in Turkey increased by 10%. Kapital.KZ

This growth has been recorded since 2010. Currently the cost per 1 sq. m of housing within the first coastline averages 1 thousand 500-2 thousand euros. At the same time, the tax ranges from 50 to 100 euros, depending on the cadastral value of the property, while utilities per year for new residents will cost 380-500 euros. “Türkiye is attractive as a real estate investment. Buying an apartment can pay off in 4-7 years. For example, in Bulgaria the cost of housing within the coastline ranges from 3 thousand to 5 thousand euros per square meter, and in Turkey these figures are two times lower,” explained Alexandra Sokolova , manager of one of the Turkish developers in Kazakhstan. Moreover, experts believe that it is necessary to invest in real estate in Turkey right now. After all, in a couple of years, Turkey plans to join the eurozone, then real estate prices will be equal to European ones. The purchase process is regulated by the Law on the Acquisition of Real Estate in Turkey by Foreign Citizens. The foreign buyer receives a residence permit in the country, with all civil rights. Since August last year, in accordance with changes to the Law of the Republic of Turkey “On Property”, regarding the acquisition of real estate by foreigners, now citizens of the Republic of Kazakhstan, since August 2012, have the legal right to purchase and register real estate in their name in Turkey.