It's much more profitable for Kazakhs to buy real estate in Turkey, which is 2-5 times cheaper than in Kazakhstan, reports a Tengrinews.kz correspondent. This is the opinion of Alexandra Sokolova, .
According to her, the cost of housing in the Mersin region of Turkey ranges from €55,250 to €93,500 per square meter for 85-110 square meters, or from €600 (in complexes under construction) to €850 per square meter (in completed complexes with furniture and appliances). Moreover, apartment sizes range from 75 to 195 square meters.
"Those looking to earn additional income by renting out apartments can earn an income of €80 to €160 per day during the season and €600 to €1,200 per month during the off-season," Sokolova . Furthermore, the average cost of apartments on the beachfront in other regions of Turkey ranges from €1,500 to €2,000.
As the construction company manager noted, a law came into effect in Turkey on August 7, 2012, abolishing the principle of reciprocity for real estate purchases by foreigners (individuals). Previously, real estate in Turkey could only be purchased by a legal entity jointly owned by a Turkish citizen.
Now, under this law, the residence permit validity for foreign citizens who own real estate in Turkey has been extended to one year. "And after eight years of holding a residence permit, foreigners can obtain citizenship," Sokolova .
With the entry into force of this law, Kazakhstan joined the list of 129 countries eligible to purchase Turkish real estate without restrictions. According to analysts, investors from 183 countries purchased 2,578 properties in Turkey in 2012. The total area of Turkish real estate purchased was 1,162,000 square meters.
According to Sokolov , German citizens accounted for the largest number of Turkish real estate purchases, with 561 Germans owning 775 properties totaling approximately 800,000 square meters.
The United Kingdom and Russia also made the top three. "Russian citizens purchased 416 Turkish properties, while British citizens purchased 365," the company's managing director reported. She also noted that Kazakhstanis acquired 57 properties in Turkey in 2012, 15 of which were purchased in the Mersin region of Turkey.
Analysts believe Kazakhstan could soon join the ranks of active foreign investors and become one of the top five.
Author: Azhar Ashirova
