Why Saudi Arabia is investing in Turkish real estate?

Investing in Turkey for Saudis, especially real estate investment, is one of the types of trade that thousands of Saudis want to start in Turkey, as it has many investment advantages that make it at the forefront of investment countries in the world.

The Saudis are among the most Arab communities investing in Turkey with the aim of achieving financial profit and collecting investment returns that fulfill their ambitions and meet their aspirations.

Saudis owning Turkish real estate:

The Saudis’ ownership of Turkish real estate began after the Turkish parliament approved allowing citizens of 183 countries around the world to own real estate in Turkey, regardless of the reciprocity law, including citizens of the Kingdom of Saudi Arabia.

The Saudis view the purchase of Turkish real estate as an opportunity to obtain a home in a country located between the continents of Europe and Asia and enjoys mild weather and a charming nature away from the desert atmosphere, with the aim of spending the tourist season and enjoying the summer months, especially during holidays and vacations.

goals that drive Saudis to own Turkish real estate

Among the other goals that drive Saudis to own Turkish real estate is real estate investment, since Turkey is among the world's investment countries thanks to the strength of its economy, industry and trade, as well as its location in the middle of the world.

peak of Turkish real estate sales

The year 2017 was the peak of Turkish real estate sales for the Saudis who replaced as the second Arab and foreign nationality possessing Turkish real estate after Iraqi citizens, as Saudi citizens bought 3345 real estate at that time, an increase of 100% over the purchases of Saudis from Turkish real estate for the year 2016, which amounted to 1886 real estate.

Trade numbers between Turkey and Saudi Arabia returned to rise again in the year 2022 after a decline that lasted for nearly four years, especially in terms of trade and exports, which began to rise little by little, in addition to the return of Saudi tourists to Turkey.

Saudis returned to the Turkish real estate market

The Saudis returned to the Turkish real estate market, to record official figures, and after a long absence, the name of the Kingdom of Saudi Arabia among the countries that own the most Turkish real estate in August 2022.

According to the official data issued by the Turkish Monthly Statistics Authority, Saudi citizens ranked eighth among the most foreign nationalities owning Turkish real estate, and the third Arab country to buy 150 properties during the month of August in various Turkish regions and states.

This is a positive indication that the Turkish real estate sales record for the third and fourth quarters will witness the presence of Saudis in the list, and the numbers of their ownership of Turkish real estate will return to their previous state, but gradually.