The reasons and motives of Libyans Ownership in the Turkish real estate sector

Libyans  Ownership in the Turkish real estate sector has become common in recent years, especially after the Turkish government worked to grant Turkish citizenship and real estate residence in Turkey according to certain conditions for those wishing to invest in real estate in the real estate sector in Turkey, so investors and businessmen poured in to pump business capital into the Turkish real estate market , and live and settle down with their families and children for the long term.

Motives for Libyan ownership in the Turkish real estate sector

The following are the most prominent reasons and motives for Libyan ownership in the Turkish real estate sector:

1. Similarities between the customs and traditions of Libya and Turkey, which made the Libyans in Turkey feel as if they were in their country of origin.
2. The prosperity and diversity of the Turkish real estate market, as it includes various types of real estate, including: villas, penthouses, triplexes, hotel apartments, and studio apartments.
3. Facilities in the law of Libyans ownership in Turkey made the Libyan investor coming to Turkey think about the Turkish real estate market.
4. Granting the property owner the right to move between the cities of Turkey with the utmost comfort.
5. The possibility of buying a property with a minimum value of $400,000, obtaining Turkish citizenship with ease, and enjoying the rights of a Turkish citizen.
6. Those wishing to buy a property in Turkey can obtain a real estate residence permit when investing an amount of $75,000.
7. The possibility of obtaining a Turkish passport after granting Turkish citizenship to investors who have invested in the real estate sector in Turkey.
8. The Libyan investor can open a bank account in a Turkish bank through his real estate residence and ownership of the property.
9. The low price of real estate in Turkey in general compared to similar real estate in European countries.
10. The low cost of living and housing in Turkey, this contributed to the increase in the number of Libyan investors to Turkey with the aim of buying real estate and then settling down and housing.
11. Turkey includes a modern and strong health and education system, which led to attracting the Libyan citizens to make Turkey a haven for family housing with the family, where modern Turkish universities and schools are located.
12. The presence of all the service and entertainment facilities needed by the Libyan citizens was the most important reason for investors to buy real estate in Turkey.
13. Turkey has a strong infrastructure, which means that there is no worry about settling and living on Turkish soil.
14. Take advantage of tax incentives when buying an apartment in Turkey.
15. Security and political stability in Turkey, as the crime rate is low in Turkey, which prompted Libyans to buy real estate in Turkey without hesitation in order to invest.
16. Turkey is characterized by its strategic geographical location, which affected real estate prices in Turkey and raised its value and therefore, real estate projects in Turkey are the most successful for the Libyan or foreign citizens in general.

Areas of concentration of Libyans in Turkey

Istanbul is home to many Libyan investors and expatriates where the Libyans chose Istanbul as a main center for their residence on Turkish lands, and it is where the vast majority of them are located, in addition, there are other people who chose to reside in the nearby Turkish tourist cities, such as Sakarya and Bursa.

In addition, one of the most important things that distinguishes the Libyans is their complete inclusion in the societies they inhabited, and therefore you find that one of the most important points of their concentration is the areas of Basaksehir and Bahcesehir, which attracted a large part of the Arab mechanism, in addition to Esenyurt and Laleli, which includes an entire street for Libyans, where Most of the shops, restaurants and businesses in the neighborhood belong to Libyan nationals.

An advice for Libyans before owning real estate in Turkey 

As long as you are a Libyan for the first time going through the experience of buying a property in Turkey, you must read the following tips and instructions to avoid falling victim to real estate fraud, continue reading .

1. In the beginning, you must make sure that there is no tenant in the property concerned, and if there is, it is necessary to confirm the date of eviction.
2. Later, it must be ensured that the property is free of any legal problems, mortgage, rent or any other rights.
3. Visit the website of the property in question and verify its validity, whether for housing or for real estate investment in Turkey.
4. Verify that there are no accumulated taxes owed by the property owner.
5. Ensure the eligibility of the seller or the owner of the property.
6. Hiring a reliable real estate company with a good reputation to guide and assist you in buying an apartment in Turkey.
7. Ensure that the area and specifications in the title deed correspond to the actual shape of the property.

Real estate that Libyans can own in Turkey

There are many types of residential, commercial and industrial real estate that Libyans can own on Turkish lands, including:

1. Residential apartments of all kinds, whether separate or in residential complexes.
2. Shops.
3. Commercial offices.
4. Villas of all kinds.
5. Buildings and houses.
6. Residential lands.

The papers necessary for Libyans to own property in Turkey

When buying a property in Turkey by Libyans, the necessary papers and documents must be submitted, the following are the most important:

1. Submit a real estate insurance document against earthquakes.
2. Bring a real estate appraisal or real estate appraisal document.
3. Provide personal photos of the seller and two photos of the buyer with a white background, provided that they are not more than 6 months old.
4. The tax number of the Libyan citizen, which is extracted from the tax department.
5. Presentation of the passport, valid for a period of not less than six months, translated into Turkish and notarized by the notary public or the Turkish embassy in Libya.
6. Bank receipts stamped with a live stamp from the bank stating the payment of the price of the property.
7. Hiring a lawyer who can speak Turkish to facilitate purchase transactions.

Buying an apartment in Turkey suitable for Turkish citizenship

In the Turkish years, the Turkish government worked to issue laws that work for the benefit of Libyan citizens in particular and foreign citizens in general residing on the territory of the Turkish Republic and it is one of the most prominent of these laws is the Turkish Citizenship Law

Where it is possible to obtain Turkish citizenship by buying an apartment in Turkey at a value of 400 thousand US dollars and benefiting from the nationality, which is one of the strongest nationalities in the world, in addition to obtaining the Turkish passport, which is one of the most powerful passports in the world, and enjoying the ease of travel, movement and entry to more than 100 countries without a visa.

IstHomes real estate company always answers your questions:

We are keen to constantly monitor various and important topics.
We answer your inquiries aboutTurkish citizenship.
We talk aboutreal estate residencyand other residencies.
We share with you the steps tobuy real estate in Turkey.
We offer you information about real estate investment in Turkey.
We simplify the procedures that you must take when buying a property in Turkey.
We highlight the most important areas for buying apartments in Istanbul.

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