The amount paid for real estate purchases from abroad reached 2.513 billion dollars. Turks mostly bought housing from the United Arab Emirates and Greece.

According to the balance of payments data announced by the Central Bank of the Republic of Turkey (CBRT), the amount paid by residents in Turkey for real estate purchases from abroad reached 2.513 billion dollars in 2024, increasing by 20.5% compared to the previous year. In the first month of the new year, this figure stood at 144 million dollars. “GOLDEN VISA PURPOSED PURCHASES INCREASED” Experts commenting on from which countries Turks buy the most real estate abroad highlighted that the increase in purchases was driven by the golden visa program. Bayram Tekçe, Chairman of the Real Estate Services Exporters Association (GİGDER) Board of Directors, noted that annual real estate purchase from abroad was around 130 million dollars 5-10 years ago, emphasizing that this figure has multiplied over time.

“ENTRY TO EUROPE OPENS WITH A 250 THOUSAND EURO INVESTMENT” Tekçe, pointing out the reasons for real estate expenditures, continued his words as follows: “The primary reason for buying housing abroad is for those who want to travel freely to obtain a golden visa. Dubai and Greece stand out in Turks’ real estate investments abroad. The main reason for choosing Greece is that with a 250 thousand euro investment, the door of all European countries opens to the buyer. By policy, they sequentially direct visa programs to countries in need of investment. For example, Spain and Portugal were preferred before but their visa programs are currently closed, and Hungary has initiated golden visa programs for 250 thousand euros.”

LANDLORD-TENANT DISPUTES AS SECOND REASON Tekçe noted that the second reason is the shift of investors who buy property and rent it out towards abroad, explaining that the increase in conflicts between tenants and landlords in Turkey in recent times has accelerated the inclination of investors towards foreign countries.