Iranians Second Biggest Foreign Buyers of Real Estate in Turkey

It is not new to the world public opinion that Turkey has become one of the largest tourist destinations in the world, as it annually receives more than 51 million foreign tourists who wish to explore its beauty and enjoy a unique vacation in it, but has mere tourism in Turkey become fulfilling the desired purpose?

Those who are passionate about the magic of geography and the fragrance of history, and those looking for a different pulse of life, of course not!

Astonishment, evidenced by the number of foreign tourists who had turned into investors or the number of investors who chose to be residents even before they visited Turkey.

The nationalities that land in Turkey's international airports vary every year in varying proportions. Among the higher percentages, we find the "Iranians" considered among the most famous people in various Turkish cities in recent times. Buying a property in Turkey and here, tourism turns into permanent residence after obtaining Turkish citizenship, for example.

What are the numbers of Iranian investors in Turkey, the motives of their rush, and the advantages of buying real estate in Istanbul, Izmir, and Ankara?

Fatih Jayapatmaz, the representative of the Turkish Independent Businessmen and Industrialists Association (MUSIAD) in Tehran, said that the number of Iranians residing in Turkey for investment has increased at a remarkable pace over the past five years and continues to move towards more remarkable numbers, as about 6 thousand Iranians have purchased a property in Istanbul, Ankara, and Izmir. During the past year, that is, the year 2019, it has nearly doubled, after the number of real estate buyers in Turkey reached 3,652 investors in 2018.

A number that reflects the great interest among Iranians to pump investment funds in the real estate sector for various reasons, some of which are counted in the following address.

The motives of the growing demand for Iranians to buy real estate in Turkey

The worsening of Tehran's dire economic conditions, where unemployment in some Iranian cities has reached 60 percent, is at the forefront of the reasons driving Iranians 'ownership in Turkey. Since Washington's withdrawal from the nuclear agreement and the American president's signing of the withdrawal decision, Iranians' fears about their future in their country have increased, so they have been searching for the country. The most secure in economic terms to avoid the sanctions imposed on transferring money abroad or Iranian citizens' possession of hard currency money outside the country, so they found no better option than Turkey and a safe alternative to their financial investments.

Many middle-class Iranian citizens agree that the demand for apartments for sale in Istanbul, Trabzon, Ankara, or Izmir provides them with the most effective way and an alternative plan to escape the obstacles to returning home and the most appropriate refuge from the US sanctions that deliberately targeted the Central Bank of Iran through it.

The Iranians' rush to invest in Turkey is also due to the facilities approved by the Turkish authorities two years ago for all those wishing to buy apartments in Turkey, most notably the procedure for obtaining Turkish citizenship by owning a property in Turkey worth $ 250,000 only after the legal texts stipulated that the purchase price should not be less. The real estate is about one million US dollars.

The Iranians considered obtaining a Turkish passport an excellent incentive for their demand for various types of real estate investment in Turkey. In this regard, 250 Iranians obtained Turkish citizenship during the past year.

The Turkish-Iranian economic relations also contributed to reassuring the Iranians, as Ankara continued to buy gas and oil from Tehran despite US sanctions.

Among the factors that attract Iranian real estate investment in Turkey, we find the similarity of the culture of the Muslim majority, which helps Iranians a lot in adapting to society without being subjected to any societal pressures or harassment due to race or religion compared to the surroundings in western countries, Iranians used to buy real estate in them like America, which most of them see Anti-immigrant and hate-feeding policies against foreigners are contrary to the calm they enjoy if they own real estate in Turkey.