Iranians flock to buy property in Türkiye after change in residency law
After the change in the Turkish residency and citizenship law, the number of Iranians who obtained citizenship by purchasing property or investing in the country has increased. Last year, six billion dollars worth of property was purchased by foreigners in Turkey.
On Thursday, January 3, the Anadolu Agency wrote in a special report about Iranians obtaining residency in Turkey: "After the change in the Turkish residency and citizenship law, many Iranians have decided to buy property and invest in this country in order to obtain citizenship." Anadolu also spoke with a number of Iranians who bought property and invested in Turkey.
Iranians' interest in buying real estate and investing has increased, especially after the Turkish government changed the citizenship law in 2017.
Fatih Cayabatmaz, the director of VIP Turkish Pas in Tehran, told DW Persian that Iranians decided to buy property in Turkey and obtain Turkish citizenship after it became easier to obtain Turkish citizenship. Fatih Cayabatmaz also said that about one million Iranians work and live in Turkey.
He emphasized that Turkey has made it much easier to obtain a visa than the United States, Germany and other European countries. He added: "By obtaining a tax number from the Turkish Tax Administration, one can open a company, work and enjoy all the rights and benefits of Turkish citizens."
According to the director of the company "VIP Turkish Pass", the rules for obtaining citizenship in Turkey have recently changed. Previously, the amount of investment and property purchase was one million dollars. Cayabatmaz also emphasized that foreigners do not have to give up their first citizenship after obtaining a Turkish passport.
The laws that caused the Iranians to invade Türkiye
Turkey eased the rules for obtaining citizenship in 2017. Citizens of foreign countries can obtain a permanent Turkish passport by investing $500,000 in Turkish banks in the form of securities or by establishing a workshop and employing 50 Turkish citizens.
The director of the VIP Turkish Pass company said that by purchasing property or land worth $250,000, one can obtain a Turkish passport and residency within 45 days. He emphasized that with a Turkish passport one can travel to 113 countries without a visa.
Feyzullah Yatgin, president of the Turkish Real Estate Investment Association, says that in 2018, $6 billion worth of property was purchased by foreigners in Türkiye.
The Turkish Statistical Institute reported in October 2018 that property purchases by foreigners in the country had increased by 150 percent to 5,615 units. According to the same report, Iranians purchased 538 residential units in Turkey in September 2018 alone.
Eight thousand Iranians bought houses in Izmir
As Iran's economic situation worsens and uncertainty about the future spreads, the number of Iranians trying to take their capital out of Iran is increasing. The destination of most of this capital is Turkey. This country has succeeded in attracting many Iranians to its market by changing visa requirements.
Mostafa Gholi Khosravi, head of the Tehran Province Real Estate Consultants Association, recently announced the statistics on property purchases by Iranians. He said that this year alone, eight thousand residential units have been purchased by Iranians in Izmir, Turkey. He also emphasized that property purchases in Georgia were also on the stock exchange until recently.
The head of the Tehran Province Real Estate Consultants Association, while warning about buying property in Georgia, said that after a significant number of properties were sold to Iranians, they announced that buying property was not a criterion for granting residency. However, huge profits were made by the brokers, and the Iranians who lost their money are now facing the problem of returning their lost money.
Source: DW
