Foreigners rushed into to real estate market to obtain Turkish Citizenship: Iranians and Egyptians came on top of property purchases in the 1st quarter of 2021!
The decrease in the monetary amount of obtaining Turkish citizenship by Investment Program (TCBI) launched in January 2017 caused an accelerated growth in the real estate sector, attract foreign investors from all over the world.
Especially, there was a great increase in the real estate purchases of the citizens of the Middle East and Arabian countries.
While housing sales figures were falling due to the pandemic, Egyptian and Iranian citizens stood out in housing sales. According to the latest data of housing sales to foreigners, the negative impact of the pandemic started to decline gradually.
According to the data of the Land Registry Foreign Affairs Department in the same period of 2021 compared to the first quarter sales of housing to foreigners in the first quarter of 2020 covering the months of January, February and March, the purchases of real estate by foreigners decreased by 1% and fell to the limit of 2 million 123 thousand square meters.
While the interest of Iran citizens in Turkey continues to increase day by day, according to the data for the first quarter of 2021, the foreign investors who purchased the most housing from Turkey were Iranian citizens again. If you are planning to buy apartments for sale in Istanbul click the link.
According to the number of purchases, Iran was respectively followed by citizens of Iraq, Russia, Afghanistan, Germany, Kazakhstan, Yemen, Palestine, China and Egypt.
Considering the area that corresponds to the total share in Turkey, Egypt, which was not even in the top 10 in the list of foreigners who made the most purchases in all real estate investment categories, suddenly the number of purchases arose and entered the list in the first place.
While Jordan was ranked first of the top 10 countries last year came out of the list.
Egypt is respectively followed by Palestine, Germany, Afghanistan, Yemen, the Russian Federation, Iraq, Iran, Kazakhstan and China in the first quarter of 2021.
Bursa ranks first in the list of provinces where foreigners made the most purchases, while Antalya, Istanbul, Konya, Sakarya, Mersin, Yalova, Muğla, Ankara, Izmir and Samsun are on the list as the other cities drawing the attention of foreigners.