Will it be prohibited for Iranians to buy property in Türkiye? – Tejarat News

According to Tejarat News, as the Turkish presidential and parliamentary elections are approaching, Kemal Kılıçdaroğlu, the opposition candidate and Erdogan’s main electoral rival, has released a promotional video entitled “Rent” and in explaining his election promises to solve the housing problem in Turkey, he has announced that If he wins the election, even a foreigner will not be able to buy a house in Turkey until the Turkish people’s housing problem is solved.

The main reason for the increase in housing prices in Türkiye

In addition to macro and international factors that can affect the disorder of the housing market of countries, there are always local factors involved in this matter.

A few days ago, the Republic of Turkey newspaper considered the implementation of the policies of Recep Tayyip Erdogan, the acquisition of citizenship and residence of foreigners in Turkey in exchange for buying or renting, as an important factor for the increase in the price of buying and renting housing in the recent period.

The survey of the housing market of 70 countries in the world last year (2022) also shows that Turkey was the leader in housing inflation with 189 percent.

It is worth mentioning that in order to implement the foreign investment policy of Turkey, which was mentioned, any foreign citizen can obtain an unlimited residence permit by buying a house for 75 thousand dollars and Turkish citizenship by buying a house for 400 thousand dollars.

This factor has been the reason for the citizens of different countries, especially in Turkey’s neighborhood, to buy houses in this country. With the continuation of this trend in recent years, in addition to the issue of price increase, the population balance has also been upset in some areas of Turkish cities and has resulted in the dissatisfaction of the local people.

Facilitating the acquisition of citizenship, the possibility of buying housing and the legalization of long-term residence of more than three months have been among the policies criticized by the opposition movement of Erdogan in recent years.

10-year property purchase statistics in Türkiye

According to the latest statistics that have been published for the past 10 years, Istanbul ranks first with the sale of 138,840 residential units and Antalya ranks second with the sale of 90,266 residential units.

Sputnik’s report indicates that between 2015 and 2023, Iraqis ranked first with the purchase of 49,113 units, Russians ranked second with the purchase of 38,465 residential units, and Iranians ranked third with the purchase of 38,187 residential units. Are.

Interest of Iranians to buy property in Türkiye

Along with Iran’s economic crises in the past years and the emergence of uncertainty in the financial markets, in recent years a large number of Iranians have bought real estate in Turkey in order to keep their capital safe or obtain residency.

Now, with the new laws and taxes that have been applied to the housing market, it is not unlikely that the process of domestic capital outflow and property purchase in countries like Turkey and Cyprus will increase.

Should we buy an apartment in Türkiye or not?

Mansour Ghaibi, an expert on the real estate market, previously told Tejarat News about real estate investment in Turkey: “People cannot be invited to invest in Turkey, because in any case domestic capital is leaving, but unfortunately, Iran’s economic situation is now It is such that if people invest in a field whose value is determined by dollars, it will be profitable for them.”

He continued: “But it must be said that the situation will not continue in this way, either in Turkey or in our country, because if a relative balance is established economically and the value of the rial increases, investing in Turkey can no longer be recommended. Currently, even if its economic situation is not worse than that of Iran, Turkey is economically inflammatory.

Ghaibi said in this regard: “On the other hand, according to Turkish laws, an Iranian investor cannot buy or sell property from non-Turks, so the level of liquidity is greatly reduced and the person may be forced to sell his property below its value.” sell the real thing.”

This housing expert also explained: “On the other hand, these people may suffer with the decrease in the price of the dollar in the country in the future.” For this reason, buying property in Turkey is not recommended for short-term investment to earn profit.

Now the question arises that if the promises of the Turkish presidential candidate are implemented and the sale of property to foreigners is banned in this country, where will be the next destination of the capital fleeing from Iran’s economy?

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