Kazakhstan citizens are actively investing in real estate in Turkey, a trend driven by multiple factors that make this a popular choice:
- Investment Appeal and Asset Preservation:
- Real estate is seen as a safe source of passive income, protecting savings from devaluation and offering stable monthly rental income. This is a key reason why people invest in properties abroad.
- Attractive Reasons for Kazakhs Investing in Turkey:
- Kazakhstan ranks fifth globally in terms of the number of properties bought in Turkey. This is not only due to the investment attractiveness of Turkey (even despite the local currency's depreciation) but also as a means for Kazakhs to safeguard their capital. Real estate transactions in Turkey are often conducted in euros, adding to its appeal.
- Significant Kazakh Presence in Turkey:
- A considerable number of Kazakhs living in Turkey contribute to this trend. They are drawn by Turkey's favorable climate, low prices, affordable living costs, and higher quality of life compared to what the same money would buy in Kazakhstan. Real estate agencies report that Kazakhs are now the fifth largest national group buying property in Turkey this year, preceded by citizens of Iran, Iraq, Russia, and Germany.
- Reasons for Kazakhs' Preference for Turkish Real Estate:
- Kazakhs can purchase high-end apartments on Turkey's resort coasts for the same amount they would spend on an average apartment in major Kazakh cities like Astana and Almaty.
- Turkey's high construction standards, particularly in coastal areas, are a draw. Kazakhs understand that investing in Turkish property can yield annual returns of 30-70%.
- The strong Kazakh diaspora in Turkey is focused on preserving culture, customs, and language. Kazakhs are particularly active in buying properties in Antalya, Alanya, and Mersin, where various business and cultural events involving Kazakhstan take place. Antalya also has a Kazakh consulate.
- The secular nature of Turkey, aligned with European standards but with a Muslim tradition, is important for Kazakh buyers.
- Language is a crucial factor. Kazakh, part of the Turkic language group, makes learning Turkish easier for Kazakh speakers. Turkey offers many Turkish language programs for adults and children.
- Kazakhs are known for their strong family and social ties. If a family buys and enjoys a property, they often bring friends and relatives to live nearby.
These factors, combined with the growing demand for rental properties and the ability to save and increase funds, make Turkey a highly attractive destination for Kazakh real estate investors.
Kazakhstan citizens find various opportunities for both business and leisure in Turkey through real estate investment:
- Leisure and Vacation:
- Those who purchase apartments in resort cities often do so for extended vacations, enjoying the lifestyle and spending time at the beach, exploring entertainment spots, and visiting attractions.
- Long-term Stay and Permanent Residency:
- Those moving to Turkey for longer periods or permanently often consider starting their own businesses. This can include opening a restaurant, café, shop, or other enterprises.
- Employment Opportunities:
- Despite some challenges, foreigners can seek official employment in Turkey. The legal framework in this area is continually improving, with future plans to simplify the hiring process for foreign specialists who invest in Turkish real estate.
- Diverse Activities:
- Kazakh property owners in Turkey have various options and can find suitable activities based on their interests and skills.
- Earning from Real Estate Investments:
- Generating income from real estate investments is accessible to many, and it doesn't always require years of saving. The growing interest of Kazakhstanis in passive income and the market's attractive offerings are noteworthy.
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