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Turkish Citizenship Exploded Housing Sales to Foreigners

Update 13.03.2022

In the Presidential Cabinet, increasing the value of the real estate that should be purchased for exceptional Turkish citizenship was discussed. At the Cabinet Meeting, it was decided to increase the value of the real estate to be purchased for the application for exceptional Turkish citizenship from 250 thousand dollars to 400 thousand dollars.

Housing sales to foreigners increased 50.7 percent in August compared to the same month of the previous year and became 5 thousand 866. Iranians took the first place in housing sales.

While it was enough to buy real estate worth 400 thousand dollars in order to obtain citizenship from Turkey, there was an explosion in the sales of residences to foreigners. The weak course of the Turkish lira against the dollar caused foreigners to increase their investments in Turkey. In this context, house sales to foreigners increased by 50.7 percent in August compared to the same month of the previous year and became 5 thousand 866.

You may interested: Turkish Citizenship by Investment

Turkey Statistical Institute (TUIK) announced the house sales statistics for August 2021. Accordingly, house sales in Turkey decreased by 17 percent in August compared to the same month of the previous year and became 141 thousand 400.

Housing sales to foreigners increased by 50.7 percent in August compared to the same month of the previous year and became 5 thousand 866. In the housing sales to foreigners, Istanbul took the first place with the sales of 2 thousand 729 houses. Antalya was followed with 976 house sales, Ankara with 400 house sales, Mersin with 242 house sales and Yalova with 233 house sales, respectively.

Housing sales to foreigners increased by 47.6 percent in the January-August period compared to the same period of the previous year and became 30 thousand 849.

Iranians are in the First Rank

In August, Iranian citizens bought 911 houses from Turkey. Iranian citizens ranked first, followed by Iraq with 900 residences, Russian Federation with 451 residences, Afghanistan with 313 residences and Kuwait with 264 residences.

Resource: https://www.tgrthaber.com.tr/ekonomi/tc-vatandasligi-yabanciya-konut-satisini-patlatti-2794969

Enes Sahin

Hello, I am Enes, I write content for Expat Guide Turkey every day. Don't forget to check it out!

One Comment

  1. What is the crime rate in turkey are expats rights safe in turkey? What if govt changes? Oppsition also has the same supportive attitude to foreign immigrants?

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