Real Estate

Egyptians and Iranians broke a record in foreigners buying housing to get citizenship in 2021

With the lowering of the monetary limit applied for granting citizenship to the foreigner who bought a house, there was a great increase in the housing sales demands of foreigners. Especially, there was a sharp increase in the purchases of the citizens of the Middle East and Arab countries who wanted to get rid of the turmoil in their own countries. Egyptian and Iranian citizens came to the fore in housing sales due to the falling housing sales figures due to the pandemic.

According to the last announced housing sales to foreigners, the negative impact of the pandemic started to decrease gradually. The results of the research conducted by EVA Real Estate Valuation also revealed a gradual improvement.

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 real estate acquisitions of foreigners decreased by 1% and decreased to the limit of 2 million 123 thousand square meters.

IRAN AGAIN IS FIRST IN THE NUMBER OF HOUSING SALES TO FOREIGNERS

While the interest of Iranians in Turkey continues to increase day by day due to the sharia applied in their own countries, the foreigners who bought the most housing from Turkey according to the first quarter figures of 2021 were Iranian citizens. This country was followed by citizens of Iraq, Russia, Afghanistan, Germany, Kazakhstan, Yemen, Palestine, China and Egypt, respectively, according to the number of sales.

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 investments category, suddenly took a big buy and entered the list in the first place. Jordan, the winner of last year, came out of the top 10, followed by Palestine, Germany, Afghanistan, Yemen, the Russian Federation, Iraq, Iran, Kazakhstan and China.

Bursa ranks first in the list of provinces where foreigners make the most purchases, while Antalya, Istanbul, Konya, Sakarya, Mersin, Yalova, Mugla, Ankara, Izmir and Samsun are on the list as the other favorite cities of foreigners.

Source: Emlak365 / Translated by Irem Yildiz

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