Iraqi Nationals are Top-2 Homebuyers in Turkey
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Iraqi Nationals are Top-2 Homebuyers in Turkey

In the first quarter of 2022, Iraqi nationals retain the second position among foreign homebuyers in Turkey. Iraqi buyers made 15% more housing purchases in March 2022 compared to March 2021, reports Turkstat. However, Tranio's market data shows that the current Iraqi demand for housing in Turkey is declining.

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In March 2022, international housing sales in Turkey increased by 31.0% with 5,567 residential properties sold to foreign nationals. The share of housing sales to foreigners in total housing sales was 4.1%. Istanbul became the most popular destination among foreign homebuyers with 2,245 housing sales. Istanbul was followed by Antalya with 434 sales and Ankara with 347 sales, respectively.

In Q1 2022, housing sales to foreigners increased by 45.1% compared to the same period of the previous year and totaled in 14,344 deals. The most active foreign homebuyers in Turkey are the citizens of Iran, Iraq and Russia. The detailed statistic on foreign homebuyers by the country of origin is presented in the table above.

However, the demand of Iraqi buyers for housing in Turkey is currently declining. According to Tranio's market data for Q1 2022, the inquiries for Turkish homes by Iraqi nationals dropped by 2 times compared to Q1 2021. The slowing demand is associated with the new requirements in the "citizenship-for-homes" programme – the minimum investment level is raised from 250,000 to 400,000 US dollars.

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