Turkey is one of the most important investment destinations for foreign investors from different parts of the world, as real estate in Turkey is gaining tremendous popularity among those wishing to buy real estate from foreign nationalities, especially Arab countries, as it has recently been observed that the number of investors from Arab countries has increased. In particular, there is an increase in the percentage of Algerians wishing to buy property in Turkey, as Algeria has become classified in the list of twenty foreign countries that buy real estate in Turkey. Specifically, it occupies the seventeenth place on this list.
Algeria has recently suffered from some economic crises that led to a sharp decline in the Algerian dinar, which prompted Algerians to search for new places to invest in preserving their money from the inevitable loss because all investment sectors are vulnerable to being affected by the local currency exchange rate. It does not leave any safe investment option for them, so it was necessary to anticipate any future local currency collapse by transferring those funds to guaranteed foreign investments. Here came Turkey as the ideal option.
In addition to the fact that the presence of many common characteristics between Arab societies and Turkish society in terms of customs and traditions made Arab investors find Turkey a place closer to them and more comfortable, and this had a positive double effect as the similarity attracted many Arabs, which led to an increase The number of Arab communities in Turkey, and this, in turn, contributed to encouraging more of them to choose Turkey instead of Europe.
Turkey is a suitable environment for the prosperity of various forms of investment. Still, thereal estate investmentsector, in particular, is considered one of the most vital sectors in Turkey, as it is considered a guaranteed area to achieve investment profits in addition to being safe away from market fluctuations, which attracts thousands of foreign investors annually to buy real estate in Turkey.
The real estate market in Turkey is one of the strongest real estate markets, thanks to the great interest that the Turkish government attaches to it, as it works diligently to develop and facilitate everything that contributes to strengthening and enhancing its spread, unlike what the real estate market in Algeria is witnessing. But unfortunately, most Arab governments do not take care of these sectors, not to mention the great recession that hit the real estate market in Algeria in the past period. All of these factors together led to the Algerian investor losing confidence in investing within his country and seeing it as a losing deal, which prompted him to search for a strong market and Guarantee that embraces his investment and achieves financial returns for him. From this standpoint, the real estate market in Turkey was chosen thanks to its excellent reputation.
As we have already mentioned, the Turkish government is working to pay special attention to everything that contributes to attracting more foreign capital and investors to it because the real estate sector in Turkey contributes to the Turkish economy, so in 2012 it canceled the work of the reciprocity law, which was to prevent Foreigners who own real estate in Turkey if their mother country does not allow foreigners to obtain real estate in it, and this was a quantum leap in front of the real estate market in Turkey, as according to which the door was opened to the influx of foreign investments, and the Algerians were one of them. Turkey
Amendments and reforms were not limited to that. Still, many laws contributed to attracting more investors, the most important of which was providing the opportunity to obtain Turkish citizenship by buying a property in Turkey in addition to modifying the required minimum investment to achieve the condition of obtaining Turkish citizenship, as it has been reduced. The amount of one million US dollars previously, which was relatively difficult to collect for many investors and prevented them from buying real estate in Turkey, currently becoming only two hundred and fifty thousand US dollars, is a reasonable amount for many investors with limited income.
Therefore, all these amendments and facilities formed positive impressions that reached the Algerian investors and many members of the Arab, Islamic, African and foreign communities, contributing to attracting more of them and continuously choosing Turkey's real estate as a place to invest without from other European neighboring countries.
A set of factors contributed to drawing the attention of many Algerian investors towards buying real estate in Turkey, including tourism, as increasing numbers of Algerians flock to Turkey for tourism, which helps them to look at Turkey's real estate, which may make many of them want to buy a property in Turkey. Later, many of them may take advantage of this opportunity to learn more about the real estate market in Turkey and investment opportunities in it, as the Turkish clothing market in Istanbul attracts large numbers of Algerian tourists who fall in love with Turkey and contribute to attracting them to settle in it and make the decision to buy a property in Turkey.