Azernews.Az

By Leman Mammadova

At present, getting the property in foreign country has become a kind of investment.

People buy real estate in foreign land for various purposes - for profit and personal accommodation.

Most of Azerbaijanis prefer to get properties in Turkey. Azerbaijan is among the top countries in terms of investment in real estate in Turkey.

Azerbaijani citizens purchased 1,134 properties in Turkey in 2018, the Turkish General Directorate of Land Registry and Cadastre told Trend.

Most of all, Azerbaijani citizens purchased real estate in September last year - 180 objects. Over the past four years, Azerbaijani citizens purchased 3,501 properties in Turkey. Azerbaijani citizens acquired 815 properties in 2015 in Turkey, 610 properties in 2016 and 942 properties in 2017.

The state authorities reported that in 2018, among foreigners most of all, Iraqi, Iranian, Saudi Arabian and Russian citizens purchased properties in Turkey.

At the end of 2018, Iraqi citizens in Turkey acquired over 7,300 properties, Iran - more than 3,200, Saudi Arabia - 2,400, Russian citizens - over 2,000 properties.

It should be noted that foreigners purchased 99,240 properties in Turkey for the period of 2015-2018.

Istanbul, Antalya, Bursa, Aydın, Ankara and Muğla are the cities where foreigners buy more properties in Turkey.

According to the law in Turkey, real estate prices will be determined for each city, region. Thus, citizens will not be able to set their sales prices as they like.

There are general prohibitions established by the legislation. A person of foreign nationality may purchase up to 30 hectares (300,000 square meters) of property all over Turkey and acquire limited real rights

Foreigner is not permitted to purchase property from military zones and their neighborhoods and security zones of these regions or to rent real estate in the areas mentioned

More than 10 percent of the total land area in a district can not be sold to foreigners.

Currently, citizens of 183 countries, including Azerbaijan, Georgia, Russia, Central Asian Republics, Ukraine, Arab countries, Russia, and Iran have the right to acquire property in Turkey. Syria, Armenia, North Korea, Cuba and Nigeria are not allowed to buy property in Turkey. Number of properties is limited in Turkey for the citizens of China, Denmark, East Timor, Israel, Jordan, and Fiji, that is, the citizens of these countries can get only 2 apartments, one business entity. Territory restriction exists for citizens of some countries. Russian and Ukrainian citizens are not permitted to get property from the provinces of the Black Sea coast and Greek citizens from the coasts of the Aegean Sea.

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