Those foreigners who have purchased residential real estate — apartments and villas — in Turkey to obtain "citizenship by investment" under an accelerated procedure, sell them. There are two reasons: the first one is a sharp rise in price, which means that it is an opportunity to make good money on the price difference, especially when this housing is not the only one, and was purchased for resale. Second, during this temporary situation, when a large number of foreigners purchased housing here, several years passed, which, according to the conditions, had to wait before reselling the property not to lose their Turkish citizenship.
Considering the dynamics, the prices of housing, which was purchased five years ago for $300,000, reach $1 million.
The sale of residential real estate in Turkey to citizens of other countries and the conditions for this are one of the most discussed topics in the housing sector. The volume of transactions with foreigners in February 2024 reached a 33-month low falling by 44.9% compared to February 2023. The decline in March was more significant: about 47%.
Nevertheless, experts expect a revival in real estate sales to investors from abroad. In addition, the leading countries for home purchases in Turkey are almost unchanged. The average payback period for residential real estate has been reduced to 15 years.