In August of last year, Turkey adopted a law abolishing the principle of reciprocity for the purchase of real estate by foreigners. Since then, citizens of Kazakhstan have purchased 57 units of real estate in the Turkish Republic, according to BNews.kz correspondent.
The most active buyers of real estate on the Aegean coast are residents of Almaty, Shymkent and Astana. Basically, these are businessmen who consider buying real estate in Turkey as an investment or buying housing for their children and parents.
Alexandra Sokolova, the managing director of Sinan Invest construction investment holding in Kazakhstan, announced this at a press conference in Almaty.
According to Sokolova, investors from 183 countries purchased 2,578 Turkish real estate properties in 2012, with a total area of 1,162 thousand square meters. Most of the properties in Turkey were purchased by German citizens. 561 Germans own 775 Turkish real estate properties with a total area of 789 thousand square meters. The top three also include English and Russians. Citizens of the Russian Federation have been allowed to purchase property as individuals since 2008. Russian citizens own 416 properties in Turkey, while British citizens own 365 properties, with a total area of 118 thousand square meters. In 2012, Kazakh citizens purchased 57 properties, and Turkey predicts an increase in the share of Kazakhs among foreign investors.
As previously reported, Turkish businesses, on the other hand, intended to invest in the construction of pharmaceutical plants in Kazakhstan. At a business forum in Istanbul, the issue of developing investments in the construction and production of building materials, processing industry, and the construction of a plant for the production of caustic soda in Kazakhstan was discussed.
Last year, Kazakhstan and Turkey adopted a plan of measures to implement the joint economic program "New Synergy", which aims to bring the level of trade and economic relations to 10 billion euros and increase the volume of investments by 500 million euros annually.
Author: ALIMA BOLATBEEK
