At the end of 2013, Kazakhstan will be one of the 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. Alexandra Sokolova, manager of the Turkish construction company Sinan Insaat in Kazakhstan, spoke about this.
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 objects. Since August 2012, Kazakhstanis have purchased 57 real estate properties.
“Kazakhstan may soon enter the list of leading countries for purchasing real estate in Turkey. Only since the adoption of the law abolishing the principle of reciprocity for the purchase of real estate by foreigners, citizens of Kazakhstan have purchased 57 real estate properties in Turkey,” says Alexandra Sokolova.
Let us recall that in August 2012, a law abolishing the principle of reciprocity for the purchase of real estate by foreigners came into force in Turkey. Kazakhstan is included in the list of 129 countries that have the right to purchase Turkish real estate without restrictions.
“Today, citizens of Kazakhstan can purchase real estate for an individual with a residence permit for all first-line family members of the owner. The law that prohibited the purchase of real estate by citizens of Kazakhstan in Turkey as an individual has been repealed. Before this, it was possible to purchase exclusively through a legal entity together with the owner, a Turkish citizen,” says the expert.
The owner's income from rental ranges from 80 to 160 euros per day during the season and 600-1200 euros per month in the off-season.
“During the crisis, all real estate prices in Europe dropped by 30-50%. In Turkey, since 2010 there has been an increase of 10-20% depending on the region. Prices are expected to rise in the future. In some regions of Turkey, prices rise by 50 euros in 3-5 months,” explains the manager of a Turkish construction company
According to Ms. Sokolova, investors from 183 countries purchased 2,578 Turkish real estate properties in 2012, with a total area of 1,162 thousand sq.m. Most of the real estate in Turkey was purchased by German citizens. 561 Germans own 775 Turkish real estate properties with a total area of 789 thousand sq.m. The top three also include the British and Russians. Citizens of the Russian Federation have been allowed to purchase real estate for an individual since 2008. Russian citizens in Turkey own 416, and British citizens own 365 real estate properties, the total area of real estate owned by Russians and British is 118 thousand sq.m.
Author: ANTON LINNIK
