Last August, Turkey passed a law abolishing the principle of reciprocity for foreign real estate purchases. Since then, Kazakh citizens have purchased 57 properties in Turkey, reports a BNews.kz correspondent.
Residents of Almaty, Shymkent, and Astana were named the most active buyers of real estate on the Aegean coast. These are primarily businessmen considering buying property in Turkey as an investment or buying homes for their children and parents.
Alexandra Sokolova, Managing Director of the Sinan Invest investment construction holding in Kazakhstan, announced this at a press conference in Almaty.
According to Sokolova, investors from 183 countries purchased 2,578 Turkish properties in 2012, with a total area of 1,162,000 square meters. German citizens purchased the largest amount of real estate in Turkey. 561 Germans own 775 Turkish properties with a total area of 789,000 square meters. The top three also include British and Russian citizens. Citizens of the Russian Federation have been allowed to purchase real estate in the name of an individual since 2008. Russian citizens own 416 properties in Turkey, and British citizens 365 properties; the total area of real estate owned by Russians and British citizens is 118,000 square meters. Citizens of Kazakhstan purchased 57 properties in 2012, and Turkey predicts an increase in the share of Kazakhs among foreign investors.
As previously reported, Turkish businesses, on the contrary, intended to invest in the construction of pharmaceutical plants in Kazakhstan. At a business forum in Istanbul, the development of investment in construction and building materials production, the processing industry, and the construction of a caustic soda plant in Kazakhstan were discussed.
Last year, Kazakhstan and Turkey adopted an action plan to implement the joint economic program "New Synergy," which aims to increase trade and economic relations to €10 billion and increase investment by €500 million annually.
Author: ALIMA BOLATBEK
