Algerians are investing in Turkey
Last Updated: 2023-07-27Algerians invest in Turkey
Recently, there has been a noticeable increase in the demand of Algerians to buy real estate in Turkey, and the demand for buying real estate has reached a rate of 225% of what it was previously.
This is a remarkably high rate, as we cannot ignore the fact that in 2019, Algeria became one of the twenty most buying countries for real estate in Turkey , ranking seventeenth.
We can summarize the most important reasons for the increase in real estate investment in Turkey by Algerians as follows:
In light of the Algerian dinar crisis, it was necessary to find a way to secure their money away from it
The problem with the Middle East and North Africa is that all their economic sectors are vulnerable to the exchange rate of local currencies, which prompted some Algerian businessmen to work to find a safer escape for their money and investments in the hope that they will be preserved from being affected by any future collapse of the Algerian currency to the locality.
First, they went to Europe, and Turkey was chosen by some due to factors related to the proximity of the characteristics of Turkish society to the characteristics of Arab societies, in addition to the increasing numbers of Arab communities in Turkey.
In addition to the most important reason, which is that the best form of investment in Turkey is real estate investment itself, which is classified as a safe haven for huge numbers of foreign investments that come to Turkey annually.
The recession that hangs over the real estate markets in the visitor
Most North African countries do not pay much attention to the field of real estate investments, in addition to the lack of incentives that promote progress in this important economic sector, and Algeria itself has been hit by a recession in its real estate market for nearly seven years, according to an Algerian newspaper report.
This led to the movement of real estate investments away from home in search of an alternative real estate market that embraces them.
Turkey was an obvious alternative for Algerians to resort to, and Algerian investments in the Turkish real estate market were increasing day by day.
Reforms to Turkey's Real Estate Law
The abolition of reciprocity for foreign investors is one of the best and safest decisions taken by Turkey, as it opened the doors for Algerian real estate investments inside Turkey starting from the date of issuance of this decision in 2012.
It was followed successively by all other amendments and reforms, the most recent of which was the law to obtain Turkish citizenship through real estate investment in Turkey and the reduction of the minimum investment allowed that allows applying forTurkish citizenship to $ 400,000.
These reforms have created positive impressions for Algerians and many members of the Arab, Islamic, African and foreign communities to act as motivation for all of them to work to increase their real estate investments in Turkey.
Real estate investments are heading towards Turkey moving from Europe
Initially, the attention of Algerian real estate investors was mainly directed towards a number of European countries, led by Italy and Spain, and in particular the city of Alicante in Spain.
But recently, data from the Turkish Statistical Authority show a significant increase in the number of Algerian nationals who own real estate in Turkey.
This led to an increase in interest in identifying and inquiring about the nature of real estate in Turkey and real estate investment opportunities in Turkey, even by non-buyers.
The Spanish financial crisis played an influential role on many real estate companies in Spain, eventually causing them to go bankrupt, prompting many Algerian investors to shift their main destination from Spain to Turkey.
Major Algerian traders have benefited greatly from the facilities that accompanied the laws of real estate ownership in Turkey by foreigners.
Many real estate companies in Turkey are also working to attract more Algerian investors by paying special attention to clarifying all the details that may be important to them regarding the subject of real estate prices in Turkey or the procedures for registering the title deed or the so-called title deed.
Without ignoring the talk about the various investment opportunities in Turkish real estate, especially that the trend towards buying apartments and houses is not very high by Algerians, as many real estate brokers in Turkey are trying to work to attract Algerians to the field of commercial real estate in Turkey.
The role of tourism in achieving greater knowledge for Algerians about real estate in Turkey
There is no denying the role of tourism in Turkey in raising, feeding and developing the demand for buying real estate in Turkey, as many Algerian tourists consider the tourist seasons in Turkey an irreplaceable opportunity to expand their knowledge of real estate in Turkey in addition to making real estate tours on a number of real estate projects in Turkey as well as to collect greater information about the real estate market in Turkey and investment opportunities in it, as experts say that Turkey is a distinctive attraction for hundreds of Algerians who do not miss the opportunity to visit it in the summer.
The Turkish clothing market, especially in Istanbul, is the most attractive market for Algerian tourists to Turkey, which allowed the spread of many commercial malls that aim to attract Arabs and Algerians in particular.
Algerian workers in Turkey have increased Algerian investment in Turkey
One of the most important things that provided a definition of real estate in Turkey within Algerian societies is the presence of Algerian workers in the tourism and real estate sectors in Turkey, which facilitated the spread of Turkish advertisements for social media in Algeria and even radios and newspapers, which do not stop talking about real estate in Turkey.
The trend of Algerians to invest real estate in Turkey is the starting point towards a continuous increase in real estate investment in Turkey by North African countries after Turkey became the new destination for real estate investment to succeed Europe.
Editorial Mersat Real Estate Team©
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