Feb 5, 2023

Pakistani Investment in Turkey real Estate Market

The Turkish government and the Pakistani government are working mutually to improve relations between the two countries to serve the interests of all parties. The dual citizenship agreement between Turkey and Pakistan is the expected fruit to confirm the success of efforts for rapprochement day after day, as the two countries meet on a single strategy aimed at strengthening their presence in the region. It can be said that the gist of the dual citizenship agreement between the two countries is that the Turkish government allows Pakistani citizens to retain Pakistani citizenship and does not need to give it up, and at the same time it allows to obtain Turkish citizenship and benefit from the advantages and benefits that accompany it. Of course, the Turkish passport has great power and vice versa, according to this agreement, Turkish citizens are also allowed to obtain Pakistani citizenship while retaining their original citizenship as well.

It was recently noticed that the number of Pakistanis in Turkey has increased, especially those who buy Turkey real estate from them and invest in this field. And the bulk prefers Turkey real estate to obtain Turkish citizenship by buying a property in it and thus holding a Turkish passport. It may be the best way to get a better future, as a high percentage of those who obtained Turkish citizenship by buying Turkey real estate are from Pakistan, where this idea left them with a positive impact as a promising investment field.

The good diplomatic relations between Pakistan and Turkey are due to the existence of a set of characteristics that make their relations complementary, especially with the remarkable changes that have occurred in the Arab region recently and the change that came by the US administration in dealing with relations with Pakistan.

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Investing in Turkey real estate:

Turkey real estate is one of the most attractive investment options in real estate on the global stage. The real estate sector in Turkey represents an exciting opportunity for investment due to the rapid economic developments and incentive policies and laws adopted by the government for the benefit of the foreign investor. Turkey real estate market offers great diversity, ranging from luxury residential apartments to commercial projects and hotels.

Istanbul is considered the city with the most constant demand for Turkey real estate, as it is Turkey's economic center, a global commercial destination, a unique cultural mix, and an unparalleled strategic location, which makes it a pivotal investment point. In addition, laws that allow foreign investors to easily purchase Turkish property and enjoy many tax advantages make the market inspiring for international investors. The development of infrastructure and mega projects adds to the attractiveness of investing in Turkey real estate, making Turkey an ideal destination for those seeking to achieve stable and sustainable investment returns in the world of real estate.

The Turkish government facilities to foreign investors

Any foreign investor in Turkey is allowed to apply for Turkish citizenship if his investment has met a set of simple conditions that include buying a property in Turkey or several properties, provided that the value exceeds 400.000 USD. Not to mention that the investor must pledge not to sell this property he purchased for a period of 3 years from the date of purchase. According to the amendments made in accordance with the Turkish Nationality Law, the investor will be able to obtain Turkish citizenship after some procedures and studying the application in the Turkish Ministry of Interior within a period of 90 days during which the authenticity of the submitted official papers will be validated, which must be previously certified by a notary whether in the investor's home country or in Turkey. All papers and official documents submitted must be translated by a sworn translator of the Turkish language.

Reasons why Pakistanis want to obtain Turkish citizenship

The reasons for the Pakistanis' desire to obtain Turkish citizenship increase thanks to the great power that Turkey enjoys due to its strategic geographical location, which makes it in the middle of the most important trade routes in the world, whether by land or sea. It has strategic seaports on the most important seas in the continent of Europe, such as the Aegean Sea, the Sea of Marmara, the Black Sea and even the Mediterranean Sea, which makes it an ideal area for commercial investment in its various forms, which is why foreign investors are strongly attracted to it.

In addition to the fact that Turkey's geographical proximity to Pakistan makes it a preferred option for Pakistanis as it shares many customs and traditions prevalent in Pakistani society, which leads them to find one step closer to suffering from the need to fully adapt to a new society. In addition to the fact that Islam is the official religion of the country, which comforts the majority of Pakistani Muslims and removes any fear of racist treatment.

Moreover, Pakistanis prefer to obtain Turkish citizenship due to the great stability that Turkey enjoys. It is considered a safe country enjoying high political and security stability, and it was able to maintain its internal stability despite all the turmoil and conditions in the neighboring countries, whether Arab or Pakistani. So Pakistanis find a safe haven from the turmoil and crises plaguing the country and the insecurity of the security situation, as is the case in some places in it. The crises in Pakistan are not limited to the security aspect only, but also extend to the economic situation, which is notably unstable, so investors resort to buying Turkey real estate to preserve their money thanks to the strength and stability of the Turkish economy.

In conclusion, it cannot be denied that the quality and great advantages that Turkey real estate possesses is a very strong incentive for Pakistanis to invest in real estate in Turkey, as Turkey real estate prices are remarkably low compared to different real estate prices such as European countries, although real estate in Turkey is not less in quality.

Not to mention that Turkey has many features that make the opportunity to buy a property desirable to achieve profits and financial returns, which leads to the availability of many diverse opportunities to invest in these properties from buying, selling and renting, and therefore it is considered an indispensable opportunity for many foreign investors, not only for Pakistanis.

If you want to know more about Turkey real estate and real estate investment, do not hesitate to contact us via WhatsApp, here. Your international real estate consultant will contact you as soon as possible.

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