Iranian Home Purchases in Turkey Grew by 30 Percent
A new report from Turkey’s Statistical Institute shows that Iranians purchased 10,056 residential units in Turkey last year, representing approximately 30 percent growth compared to 2020.
Iranians broke the historical record for monthly home purchases by foreigners in December by buying 1,462 units. After Iran, citizens of Iraq, Russia, Afghanistan, and Germany had the highest number of property purchases in Turkey.
Data from Turkey’s Central Bank also shows that foreign investment inflows in the country’s real estate sector amounted to 5.1 billion dollars last year. In total, more than 59,000 residential units were sold to foreign citizens in Turkey last year, which is 44 percent higher than 2020 and sets a new record.
The largest growth in property purchases by foreigners occurred during the final two months of the year, when the value of Turkey’s national currency, the lira, experienced a sharp decline.
Turkey grants citizenship to foreigners who invest a minimum of 250,000 dollars in property purchases within the country.
During 2019 and 2020, a total of 7,500 foreign citizens obtained Turkish citizenship through property purchases, but this process accelerated significantly in 2021, with 10,000 people acquiring Turkish citizenship rights in just the first six months of 2021.
According to official statistics, Iran, Afghanistan, Iraq, Yemen, China, Palestine, Jordan, Lebanon, Egypt, and Pakistan are the 10 countries with the largest share in this ranking.
Source: Radio Farda
