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More than 20% of foreigners who bought real estate in Turkey did it for the sake of citizenship

  • 09.02.2022
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More than 20% of foreigners who bought real estate in Turkey did it for the sake of citizenship

Among foreigners who purchased housing in 2021, 22% did so to get citizenship in the republic. The property value required by law must exceed USD 250,000.

In the past year, expats bought 68,168 housing units, the number includes residential real estate. EVA, a real estate valuation consulting agency, indicates that 22.1% of buyers wanted to buy real estate to obtain a Turkish passport.

Thus, foreigners invested in about 15,000 assets in the real estate sector. 80% of this number was located in Istanbul, the commercial and financial center of the country.

In 2020, 28% of expats bought real estate to get citizenship. In absolute terms, citizens of other countries have purchased 41,000 properties.

By nationality, the top buyers are headed by Iranians. They are followed by citizens of the following countries: Iraq, Afghanistan, Yemen, China, Egypt, Jordan and Pakistan.

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