Kazakhstan may soon enter the list of leading countries for purchasing real estate in Turkey, said Alexandra Sokolova, a representative of a large Turkish investment construction holding, at a press conference in Almaty on Tuesday, April 16.
Since August 2012, a law came into force in Turkey abolishing the principle of reciprocity for the purchase of real estate by foreigners. Kazakhstan was included in the list of 129 countries that have the right to purchase Turkish real estate without restrictions, said Alexandra Sokolova, noting that after the law came into force, Kazakhstanis had already purchased 57 real estate properties.
According to the company, Kazakhstanis most often buy housing in Istanbul, Ankara, and resort areas. As Alexandra Sokolova noted, the economic crisis had virtually no effect on prices for Turkish real estate, since it is being built with its own funds, on purchased land, without subcontractors. “Even when the complex has not yet been built, state insurance companies insure all real estate, and people receive a certificate of ownership,” explained a representative of the construction company.
According to her, real estate prices in Turkey have increased by 10-20% since 2010 and continue to rise “by 50 euros [per 1 sq. m] every 3-5 months.” In Istanbul, real estate prices vary greatly depending on the area and proximity to the sea coast. You can find a standard apartment with an approximate area of 80 square meters. m and for 30-50 thousand euros in remote areas (more than 5 km from the sea). In beach areas, prices range from 80 to 120 thousand euros for a two-bedroom apartment. The average price of housing per square meter on the middle coastline is 1.5-2 thousand euros, depending on the finishing. At the construction stage, you can buy real estate from 600 euros per square meter; in completed complexes with built-in furniture and appliances - from 850 euros.
- Many investors buy several apartments and rent them out. The rental cost in the complexes ranges from 80 to 160 euros per day during the beach season, which lasts 9 months, and 600-1200 euros per month in the off-season. The apartment pays for itself in 4-7 years,” said Alexandra Sokolova.
.The right to own real estate in Turkey is protected by law, and it is indisputable, as in European countries. Along with the housing, a plot of land under the house is also purchased.
- What is important is that Türkiye is not a double taxation country. In this country, property taxes are minimal - 0.027% of the cadastral value, which is about 50-70% of the commercial value: this is approximately 50-100 euros per year. Utility payments range from 380 to 500 euros per year, which includes the use of the entire infrastructure of the complexes: beaches, swimming pools, saunas, etc., noted a company representative.
At the same time, property owners do not pay for transfer from the airport and water, which is free in Turkey. In their absence, the management company looks after the housing and is responsible for the safety of the property.
On April 4 of this year, the law on foreigners and international protection came into force in Turkey, making it easier for homeowners, including Kazakhstanis, to obtain a residence permit. Now, to do this, it is enough to present only a certificate of ownership of real estate, a passport and fill out a form. All family members also receive a residence permit and the right to work. After 8 years of holding a residence permit, Turkish citizenship is granted.
Author: Larisa Chernenko
