In The First Half Of 2020, More Than 14,000 Foreign Citizens Purchased Real Estate In Turkey

Almost 14,500 foreign citizens bought a property in Turkey in the first half of 2020. Most of all, Turkish real estate is popular with citizens from:

  • Iran

  • Iraq

  • Russia

  • Afghanistan

  • Yemen

  • Azerbaijan

  • Jordan

  • China

  • Germany

  • Palestine

  • Saudi Arabia

  • Kuwait

  • Egypt

  • Kazakhstan

  • Libya

  • Ukraine

  • Great Britain

  • Turkmenistan

  • Lebanon

  • Uzbekistan

  • Pakistan.

Investors are primarily interested in real estate in Istanbul (6,902), then Antalya (2,708), and Ankara (964).

“Since the abolition of reciprocity law in May 2012, foreigners continue to show interest in owning a home in Turkey. The first quarter of 2020 saw a 14% year-over-year increase in sales of residential properties to buyers from overseas. While April and May were, understandably, slow because of the lock-down and travel restrictions, sales picked up again in June,” explained a representative of the consulting firm. “Foreign nationals can also apply for citizenship in Turkey based on a minimum real estate investment of US$ 250,000, which is to be held for three years, and this is what's driving the surge from certain Middle Eastern and Asian countries. Reportedly, over 9,000 foreign investors have acquired Turkish citizenship through investment in the last few years.”

Source: openpr