Azerbaijani citizens buy more real estate in Turkey

25 September 2019 19:27 (UTC+04:00)

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By Rasana Gasimova

Azerbaijan is among top countries to invest in real estate market in Turkey. Many Azerbaijani citizens prefer Turkey as a real estate investment destination.

Azerbaijani citizens bought 711 pieces of real estate over the period of January-August 2019 which is 128 pieces more compared to the same period of 2018, Trend reported on September 25, citing the Turkish General Directorate of Land Registry and Cadastre.

According to the Directorate, in January 2019 Azerbaijani citizens acquired 95 pieces of real estate in Turkey, 105 pieces in February, 87 pieces in March, 87 pieces in April, 90 pieces in May, 67 pieces in June, 92 pieces in July, and 88 pieces in August.

110,500 pieces of real estate were sold in Turkey in August 2019. This is 5.1 percent more compared to August 2018. Moreover, 3,604 properties in Turkey were sold to foreigners, which is 6.8 percent less compared to August 2018.

Azerbaijani citizens purchased 1,134 properties in Turkey in 2018.

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, Iranians - over 3,200, Saudi Arabians - 2,400, Russians - over 2,000 properties.

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.