Turkey, Russia, and Iran top the list of the largest foreign buyers of houses in Turkey

Turkey, Russia, and Iran are the top foreign buyers of houses in Turkey, according to the Turkish Statistical Institute.

According to the Turkish Statistical Institute, Russia and Iran remain at the top of the list of the largest foreign buyers of houses in Turkey, continuing the trend of recent months.

In its latest report on house sales in March, the institute announced that Russian citizens bought the most houses with 1,175 purchases, surpassing non-Turkish citizens. Iranian citizens ranked second on the list with 472 house purchases in that month.

After Russia’s attack on Ukraine, Iranian citizens lost their top position on this list and Russian citizens became the largest foreign buyers of houses in Turkey.

A while ago, Mojtaba Yousefi, a member of the Iranian Parliament, announced that $7 billion in foreign currency had been taken out of Iran to buy properties in Turkey between 2018 and 2020.

About four years ago, the Turkish government facilitated property purchases by making changes to investment-related laws in order to attract foreign investment and prevent a decline in the value of the Turkish lira.