By the end of 2013, Kazakhstan will enter the top five countries whose citizens buy real estate in Turkey. It is predicted that the number of transactions for the purchase of real estate by Kazakhstanis in Turkey will increase almost 9 times. This was stated by Alexandra Sokolova, the manager of the Turkish construction company Sinan Insaat in Kazakhstan.
This year, Sinan Invest experts expect an increase in transactions for the purchase of real estate in Turkey by citizens of the Republic of Kazakhstan to 500 properties. Since August 2012, Kazakhstanis have acquired 57 properties.
“In the near future, Kazakhstan may be included in the list of leading countries for the purchase of real estate in Turkey. Only since the adoption of the law abolishing the principle of reciprocity for the purchase of real estate by foreigners, Kazakhstani citizens have acquired 57 real estate properties in Turkey,” says Alexandra Sokolova.
Recall that in August 2012, a law came into force in Turkey, abolishing the principle of reciprocity for the purchase of real estate by foreigners. Kazakhstan entered the list of 129 countries that have the right to buy Turkish real estate without restrictions.
“Today, citizens of Kazakhstan can purchase real estate as an individual with the receipt of a residence permit for all family members of the owner on the first line. The law that prohibited citizens of Kazakhstan from buying real estate in Turkey as an individual has been abolished. Until now, it was only possible to purchase jointly with the owner - a citizen of Turkey as a legal entity,” says the expert.
The owner's income from renting out is from 80 to 160 euros per day in season and 600-1200 euros per month in the off-season.
"During the crisis, all prices in Europe for real estate fell by 30-50%. In Turkey, since 2010, there has been a growth of 10-20% depending on the region. Further price growth is predicted. In some regions of Turkey, prices grow by 50 euros in 3-5 months," explains the manager of the Turkish construction company
According to Mrs. 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 acquired by citizens of Germany. 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, and British citizens own 365 properties, with the total area of property owned by Russians and English being 118 thousand square meters.
Author: ANTON LINNIK
