Looking at the statistics and studies, we will find a great turnout by Arab and foreign investors for real estate investment in Turkeyin particular, as this turnout has increased dramatically, and Turkey has become one of the most important investment destinations, especially for the Gulf, and in the following, we will devote more attention to Kuwaiti investments in Turkey. What do they prefer? And what are the factors that contributed to their polarization? And where are they now in the Turkish real estate market? This is what we will discover in this article so stay with us.
After the law abolishing reciprocity in Turkey was issued in 2012, the number of Kuwaiti investors in Turkey increased dramatically, as this law allowed Kuwaitis to buy real estate in Turkey even though the Kuwaiti government does not allow the Turks to do so, and with this, we find that real estate investments that belong to Kuwaitis have started. It has risen steadily since that time, as the Kuwaiti community has managed to reach third place in the list of Arab investments on Turkish lands and then surpassed that to reach the second place, and its ranks still range in the first ranks with slight differences from year to year, but it has preserved its name and importance. Within the real estate market in Turkey.
- Real estate prices in Turkey, which are considered cheap when we compare them with real estate prices in Europe, as you can buy a property in Istanbul with a good location, large area, and excellent view at a reasonable price that you cannot find in any other European city.
- The numerous laws and legislations issued by the Turkish government on an ongoing basis facilitate the process of real estate ownership for foreigners in Turkey, attract them to real estate investment on its lands and ensure that they are not exposed to fraud and deception.
- The strategic location that Turkey enjoys, as it is located between the countries of the Middle East on the one hand and the European continent on the other hand, and this is what many Arab investors prefer, as it is not far from their countries and does not take much time to reach.
- The pleasant climate that Turkey enjoys, which differs greatly from the desert atmosphere prevailing in the Gulf countries, including Kuwait, and the spread of beautiful terrains such as seas, rivers, mountains, and plains means that it is a major destination for tourists and is, therefore, a suitable place for investment and profits.
- The opportunity to obtain real estate residency by buying a property in Turkey, so the investor does not worry about obtaining an entry visa to Turkish territory, but he will be able to visit the country at any time he wants with the possibility of renewing this residence.
- The opportunity to obtain Turkish citizenship through real estate investment in Turkey, when buying a property or group of real estate at a price of at least 250 thousand dollars after this amount was reduced, which was previously amounting to one million dollars, and of course, Turkish citizenship carries many advantages, as well as the passport Turkish travel, has an advanced ranking in the world.
- Reducing taxes on foreigners when investing in Turkey, and is what attracted Kuwaitis to take advantage of this advantage that is not present in many countries.
- The large spread of Arab communities on Turkish lands, and thus you will be able to include a workforce and employ your countrymen within your projects.
- With the hospitality and morals of the Turkish people and the similarity of customs between them and among the Arabs, the investor will not feel alienated, and Turkey will be the incubating environment for him and his family.
Kuwaiti investors are turning to real estate investments that can achieve profits as quickly as possible even if it costs a lot of money. Therefore, we find that their investments are concentrated in hotels, restaurants, cafes, and shopping centers, i.e. mainly commercial real estate, which is widely spread in Turkey. To the location of this real estate, and therefore their interest is focused on the cities of Istanbul and Bursa, which are famous as important investment destinations.
The second place for investments that are popular with Kuwaitis is the share of residential real estate, especially the luxurious ones, as Kuwaitis prefer to buy luxury villas, spacious apartments, and distinctive residential complexes, and for this reason, it is a challenge that they prefer prominent cities such as Istanbul, Antalya, and Yalova.
The lands in Turkey come in third place, where Kuwaitis buy them and build various investment projects on them, and this is the reason for their interest in the city of Trabzon, which is full of spacious and suitable lands.
In general, the statistics indicate an expected increase in the number of Kuwaiti investments during the coming period despite the challenges that the region faces, but the Turkish government is carrying out many maneuvers and facilities that would encourage Kuwaitis to own real estate in Turkey and guarantee their rights.