Data released by the Foreign Investors' Website of General Directorate of Title Deed and Cadastre shows the top demand for Turkish Citizenship came from Iran with 2093 applications- followed by 1252 Afghan and 1153 Iraqi applications. Yemenis, Palestinians, Jordanians, Chinese, Libyans, Egyptians and Pakistanis are also in top 10. Followers include Indians, Russians, Ukrainians, Lebanese, Bengalis and Malaysians -data shows.
As per the June 2020 Foreign Property Sale Statistics, regularly released by General Directorate of Title Deed and Cadastre, the foreign sales dropped only 27% between last years January to May and this years January to May despite stopped flights and COVID-19 pandemic.
1.644 units of real estate were sold in Turkey in June 2020 to foreigners. Iranians purchased 398 units of real estate as the top investor nationality, followed by Iraqis (275), Chinese (78), Azeris (70) and Russians (63). Main motivation behind those real estate purchases is Turkey's leading Citizenship by Investment Program that attracted 9011 applicants until today.
Resource [May Statistics]: https://www.tkgm.gov.tr/tr/icerik/mayis-2020-konut-satis-istatistikleri
Endeksa.com, a proptech startup in Turkey, has analyzed the real estate prices of Istanbul various neighbourhoods. The analysis shows prices in USD kept constant, despite rise in USD/TRY rates. Here are the TL increases in real estate prices in various neighbourhoods of İstanbul:
When adjusted to USD, they demonstrate that values are generally kept constant or even rose for a limited number of neighbourhoods in Istanbul.
This actually is a great sign for foreign investors of Turkish property. Many investors have been waiting for the bottom prices for Turkish real estate, to profit off the appreciation more. Seeing the crisis to not have a significant impact on prices clearly indicates the prices to recover and rise with the post-Corona economic recovery and boosts.
It is a great time to get Turkish Citizenship by Investment by investing in Istanbul property. Apart from the security Turkey provides, it is clever to invest in Turkey with a good price, purely from an investor perspective. Maximise your investment return, get Turkish Citizenship by Investment with Viya.
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