Iraqis Make a Strong Return to the Turkish Real Estate Market

The Turkish real estate sector has witnessed a significant presence of Iraqi investors over the past few years, as they have been among the top foreign nationalities contributing to the revival of the real estate market, especially through the purchase of residential apartments and land.

Despite a slowdown before the recent Turkish elections due to fluctuations in the lira's value, recent months have seen a notable increase in the volume of Iraqi investments in Turkish real estate. This resurgence is attributed to several factors, including the ability to obtain Turkish citizenship through real estate investment, Turkey's advantageous geographic location, and the cultural and social proximity between the two countries.

According to data from the Turkish Statistical Institute, Iraqis have returned to the top ranks of buyers in the Turkish real estate market, occupying third place in September, after Russians and Iranians. Istanbul, Antalya, and Mersin recorded the highest sales rates to Iraqis, who are particularly seeking a safe haven amid geopolitical tensions in the region, especially in Iraq and Lebanon.

Sector specialists attribute this renewed Iraqi demand to the unstable conditions in the Middle East, which has driven Iraqis, including influential economic figures, to seek safe real estate investments that can protect their capital.

With Turkish government incentives aimed at attracting foreign investors, Iraqis are finding increasing opportunities to own property in Turkey, whether for residence or investment purposes.

Experts predict that the demand for Turkish real estate from Iraqi investors will continue in the coming months, especially as regional crises persist and Turkey continues to offer promising investment opportunities at competitive prices compared to other real estate markets.

Edited by: Imtilak Real Estate©