$100 billion in capital fled Iran in just two years

Due to sanctions, economic problems, and dissatisfaction, Iranians have been buying homes in Turkey, the UAE, and Georgia. It is said that about $100 billion in capital has left Iran in just two years.

Buying property and obtaining citizenship is a policy that some neighboring countries, including Türkiye, have adopted to attract the capital of Iranians who have wandered away.

The "Fararo" website, quoting Masoud Khansari, head of the Tehran Chamber of Commerce, reported that $100 billion in capital had left Iran in two years.

It is said that most of this money was spent on buying property in neighboring countries, especially in Türkiye, the United Arab Emirates, and Georgia.

Citing government statistics, Khansari said that the amount of investment in Iran has had a negative trend in recent years, while the amount of capital flight from Iran has increased.

"Ferraro" continued in his report: "With the rise in the price of the dollar in recent years and the crippling economic sanctions against Iran, the process of capital outflow from the country has also strengthened. In the meantime, some neighboring countries, including Turkey, the UAE, and Georgia, were able to attract some of the Iranian capital."

Buying a house and establishing a company

Official statistics indicate that between 2017 and 2019, about 1,500 property purchases in Türkiye were made by Iranians.

Five percent of real estate in Turkey is purchased by foreign customers, of which Iranians are in first place. The trend of real estate purchases by Iranians in Turkey has even accelerated in the past year.

The head of the Tehran Chamber of Commerce says that in the first nine months of 2020 alone, Iranians have purchased about 7,000 apartments and houses in Türkiye.

These same statistics show that in less than four years, Iranians have established more than 2,700 companies in Türkiye and purchased more than 13,000 houses and apartments in that country.

Source: DW