Initiatives, such as citizenship in exchange for a property purchase of at least $250,000 are driving foreign property sales in Turkey.
The number of properties sold to foreigners in Turkey has boomed, with an increase of 87 percent at the start of the year compared to the same period last year, according to the Turkish Statistical Institute
In January and February 2018, 3,471 houses were sold to foreigners. In 2019, the number of house sold for the same two months had reached 6,489.that foreigners were motivated by good value for their money. “So this tells us that real estate getting so cheap in USD terms and the advantage of getting Turkish citizenship plays a big role in the increased demand from foreigners,” he said further.
Iraqis led the pack when it came to property purchases, with 628 purchases, followed by Iranians with 307 properties, Russians with 236, Afghans with 166, and Kuwaitis with 150. that market conditions were ripe for investment.
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