Algerian Citizens' Interest in Real Estate in Turkey
Ever since the approval of the 2012 amendment that allowed foreigners to gain Turkish citizenship through $250.000 investment, there has been an immediate surge to the country. According to TurkSat's research, 167 thousand houses were sold to foreigners between 2014 and 2019. Being a central business and touristic hub for regions, Istanbul has always been the top choice in the real estate market. Meanwhile, the top summer destination Antalya has seen the second-highest property sold to foreigners.
While some foreign citizens were faced with strict rules against owning properties, or could only own business properties, citizens of Algeria have no restrictions on owning a property in Turkey. Be it for your forever home, or opening up your business to reach Europe through Turkey. Algerians can own a wide range of property in Turkey, such as residential units, villas, as well as businesses such as offices, hotels, shops, and commercial buildings.
Turkey is a dynamic and growing G20 economy that links the east and the west uniquely. In addition to being one of the fastest-growing economies, Turkey also supports international investors’ growth via a business-friendly agenda and through access to a large domestic market and neighbouring global markets.
Through the 2012 accepted Turkish Nationality law, an amendment came into effect. This decision grants citizenship to anyone who buys real estate valued at $250,000 came an exceptional opportunity that does not hide its importance, and this decision included citizens of most of the countries of the world. The amendment includes all close members of the family of the new owner, from partners to children under the age of 18.
A Turkish passport allows you to travel between 114 countries Visa-Free. Passport Index ranks Turkey at #40 globally, with a mobility score of 121, just below Russia. Turkish Passport holders can travel to 72 countries visa-free, while 49 countries give visa on arrival. Some of the visa-free countries include Japan, Brazil, Nigeria, Ukraine, and many Far East Asian countries. A Turkish Passport will ease your visa application process to EU countries as well. You can find the complete list of the countries in our other blog articles.
What are the required documents for Algerians to Apply for a Turkish Citizenship/Residence Permit Through Property Purchase?
Passport or I.D. Card from the Country of Origin (Including a translated copy of each)
1 Photograph of the Seller, 2 of the Buyer
Power of Attorney Document (if applicable)
Taxpayer Number
Document for the Declared Value of the Property
Title Deed of the Property (Tapu in Turkish)
Appraisal Report
Receipts of the Money Transferred (Final transfer must be from and to a Turkish Bank)
Earthquake Insurance Policy
