18,000 foreign investors obtain Turkish citizenship through real estate

The number of real estate investors who obtained Turkish citizenship from 2017 until the end of June of this year reached nearly 18,000 investors

18,000 foreign investors obtain Turkish citizenship through real estate
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2021-08-17 Last update 2021-09-23

18,000 foreign investors obtain Turkish citizenship through real estate

Since the amendment of the executive regulations of the Turkish Citizenship Law in 2018, the real estate market has witnessed a great demand from foreign investors, and as a result, a large number of real estate investors were able to obtain Turkish citizenship. Follow the details through Imtilak Real Estate.

18,000 real estate investors have obtained Turkish citizenship

In early 2017, the Turkish government started to offer incentives and facilities to foreign investors on its territory by granting Turkish citizenship to those who invest in a property worth $1 million, and in September 2018 issued a decision to reduce the value of the Turkish citizenship donor to $250,000.

These decisions had a significant impact on increasing the demand for foreign investors to invest in real estate in Turkey, as reports indicated that Turkish citizenship has become at the forefront of the priorities and objectives of foreign investors wishing to invest in Turkish real estate.

The previous three years witnessed record numbers in real estate sales to foreigners, culminating in the last record achieved in sales last July, where sales of apartments to foreigners during this month amounted to 4,495 apartments, achieving the best sales number during the month of July during the past years.

Obtaining Turkish citizenship

10,000 citizenships within 6 months

According to data issued by the General Directorate of Land Registry and Real Estate Survey, the number of people who obtained Turkish citizenship in exchange for real estate investment reached 17,968 investors, from the beginning of 2017, until the end of June of this year.

These investors who obtained Turkish citizenship belong to 122 countries from different countries of the world, and they obtained Turkish citizenship in exchange for real estate investment in 48 cities of different cities of Turkey.

According to the same data, 70 people obtained Turkish citizenship in exchange for a real estate investment of $1 million between 2017 and 2018, while the number of people who obtained Turkish citizenship in exchange for a real estate investment of $250,000 between 2019 and 2020, nearly 7,500 people.

This year, there was a record number of Turkish citizenship in exchange for real estate investment, with 10,000 foreign nationals acquiring Turkish citizenship through real estate investment during the first six months of this year.

الجنسية التركية انجليزي الجنسية التركية انجليزي

The Iranians are in the lead and the Chinese are in the top five

In the details of the data on the nationalities of foreign nationals with Turkish citizenship in exchange for a real estate investment, Iranians ranked first among the most foreign nationalities with Turkish citizenship in exchange for the purchase of a property.

Afghans ranked second, after the Iranians, Iraqis ranked third, Yemenis ranked fourth, Chinese ranked fifth, Palestinians ranked sixth, Jordanians ranked seventh, Lebanese ranked eighth, Egyptians ranked ninth, and Pakistanis ranked tenth.

It was remarkable for the Chinese to seek Turkish citizenship in exchange for a real estate investment, which brought them up to the top five in a year and a half.

 

Edited by Imtilak Real Estate©

Reference: Emlak Kulesi

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