Over 14,000 foreign nationals bought homes in Turkey during the first half of 2020
According to the statistics published by Turkish Statistical Institute, the highest number of foreign buyers originated from the following countries, among others:
Iran, Iraq, Russia, Afghanistan, Yemen, Azerbaijan, Jordan, China, Germany, Palestine, Saudi Arabia, Kuwait, Egypt, Kazakhstan, Libya, Ukraine, the UK, Turkmenistan, Lebanon, Uzbekistan, and Pakistan.
The queen of cities, Istanbul, recorded the highest number of sales to foreign buyers (6,902). Antalya (2,708) and Ankara (964) occupied the second and third spots.
"Since the abolition of reciprocity law in May 2012, foreigners continue to show interest in owning a home in Turkey. The first quarter of 2020 saw a 14% year-over-year increase in sales of residential properties to buyers from overseas. While April and May were, understandably, slow because the lock-down and travel restrictions, sales picked up again in June," explained Dr. Hussain Farooq, President of HF Corporation.
"Foreign nationals can also apply for citizenship in Turkey based on a minimum real estate investment of US$ 250,000, which is to be held for three years, and this is what's driving the surge from certain Middle Eastern and Asian countries. Reportedly, over 9,000 foreign investors have acquired Turkish citizenship through investment in the last few years," concluded Dr. Farooq.
Suite 3, Level 1, Cantt. Board Plaza, Tufail Road, Lahore, Pakistan, 54000.
HF Corporation is a citizenship- and investment-advisory firm that advises high net-worth individuals on the acquisition of second citizenship and residence in different countries, including Turkey. The firm also has a government advisory department that offers assistance to different governments to help them in building strategies for increasing foreign direct investment in their countries.
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