November 9, 2022 real estate

Kuwaiti investors are second biggest purchasers of Turkey real estate


Kuwaiti investors are ranked in second position, following Iraq, for purchases of real estate properties in Turkey, with a total of 8,442 properties acquired in the last seven years, according to the Turkish Statistical Institute.

Iraqi investors purchased a total of 36,391 properties in Turkey, and the other countries that appear in the Turkish institute’s list of top real estate buyers include Saudi Arabia, Qatar, Jordan, Egypt, Yemen, Lebanon and Sudan.

Meanwhile, in a meeting held last month between the Union of Investment companies(UIC) and the Turkish delegation in Kuwait, Abdullah Hamad Al-Terkait, Deputy Chairman of the UIC outlined the significance of the investment opportunities between the two countries, especially in the tourism and real estate sectors, placing bilateral investment figures in the year 2020 at $800 million while Kuwait’s direct investment value in 2022 across different sectors in Turkey was placed at $2 billion.

Tourism in Turkey has seen strong investments with 246,000 people visiting the country from Kuwait last year.

Kuwaiti real estate owners are also offered several incentives for Turkish property deals such as the possibility of getting Turkish citizenship for real estate ownership of properties worth $250,000 in the country.

zawya



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