Iranians Rank 1st in Buying Real Estate in Turkey

Official statistics released by Turkey show that Iranians have set a record in buying real estate in Turkey as they rank first in purchasing 6,425 real estates in this country in the first 11 months of 2020 which indicates 38% growth comparing to the same period in 2019. Reports coming from Turkey show that the purchase of real estate by foreigners in this country has declined by 9% but the official statistics show that Iranians have set a record in buying real estate in this country.

Being granted residence and citizenship with purchasing real estate are of the major incentives for attracting Iranian investors into Turkey’s housing market. According to Turkey’s law, foreign nationals by purchasing real estate worth US$250,000 or more can get residence and Turkish nationality. Since the approval of this law, the purchase of real estate by foreign nations has experienced a considerable boom.

Statistics show that in 2019, some 40,616 real estates have been purchased by foreign nationals but the figure has declined by 9% in 2020. Iraqis who ranked first in 2019 in buying real estate in Turkey lost their interests in 2020 and their purchase fell by 11% and lost the top place in rankings to Iranians whose purchases grew by 38%.

Ankara, Antalya, and Bursa have been the top destinations for Iranians for purchasing real estate in Turkey. They have bought 6,425 items of real estate in 11 months of 2012 according to the official statistics. - Iran News Daily