In 2013, Kazakhstan will be among the top five countries whose residents are most actively purchasing real estate in Turkey. Analysts predict that approximately 500 apartments will be sold to Kazakhstanis this year. "Currently, all the preconditions for this are in place; the necessary laws have been passed, and Kazakhstan residents are interested in real estate in the country," explained Alexandra Sokolova, manager of a Turkish developer in Kazakhstan.
Last year, citizens of Kazakhstan purchased 57 properties in Turkey. As is known, since August of last year, Kazakhstanis have been allowed to purchase real estate in Turkey everywhere except on the Black Sea coast. "Currently, citizens of Kazakhstan can purchase real estate in their own name and obtain residence permits for all first-degree family members of the owner. To obtain a residence permit, you must present a TAPU (property ownership certificate), a passport, and an application to the Turkish embassy," explained Alexandra Sokolova. The TAPU must be processed in person in Turkey.
Overall, in 2012, investors from 183 countries purchased 2,578 Turkish properties, totaling 1,162,000 square meters. German citizens accounted for the largest number of Turkish property purchases, with 561 Germans owning 775 Turkish properties totaling 789,000 square meters.
British and Russian nationals also made the top three. Russian citizens owned 416 apartments in Turkey, while British citizens owned 365 properties.
Since 2010, housing prices in Turkey have risen by 10%. Currently, the cost per square meter of housing within the first coastal line averages 1500-2000 euros. The tax will range from 50 to 100 euros, depending on the cadastral value of the property. Meanwhile, utility costs for new residents will amount to 380-500 euros per year.
"Turkey is an attractive real estate investment. After all, buying an apartment will pay for itself in just 4-7 years. For example, in Bulgaria, coastal housing costs between €3,000 and €5,000 per square meter, while in Turkey, these figures are half that," explained Ms. Sokolova.
Moreover, experts believe that investing in Turkish real estate is essential now. After all, Turkey plans to join the Eurozone in a couple of years, and then real estate prices will be on par with European ones.
Author: OLGA VESELOVA
