The volume of sales of residential real estate to buyers from other countries in Turkey increased by 172% in the period from 2018 to 2022, largely due to the cheaper Turkish lira. But the possibility of obtaining Turkish citizenship for investment is also an important factor.
According to the newspaper Sözcü, referring to the data provided by the Ministry of the Minister of Environment, Urbanization and Climate Change, in the period from January 1, 2018 to February 15, 2023, sales to foreign individuals in total reached almost 200 billion Turkish lira: 190 124 624 488 TL.
The first 10 places in the ranking of countries whose citizens bought the most residential real estate in the territory of the Republic of Turkey were Iran, Russia, Iraq, Germany, Afghanistan, Kuwait, Saudi Arabia, Kazakhstan, Azerbaijan and Ukraine.
Recall that Turkey is recognized as a world leader in the growth of housing costs. And for Russians, citizenship by investment from April 1, 2023 has remained available in almost only Turkey, except for Vanuatu.