Properties Purchased for $300,000 Five Years Ago Now Sell for $1 Million

Investors who purchased residential properties in Türkiye five years ago for $300,000 under the "citizenship by investment" scheme are now actively selling these assets. There are two main reasons for this trend: firstly, the significant increase in property values provides an opportunity for substantial profit. Secondly, many of those who bought properties during that wave of foreign investment have now completed the mandatory holding period required to retain their Turkish citizenship, allowing them to sell without risking their new citizenship status.

Given the current market dynamics, properties that were bought for $300,000 five years ago are now selling for up to $1 million. This significant price increase highlights the profitability of investing in Turkish real estate.

Current Market Conditions for Foreign Investors

The sale of residential properties to foreigners is one of the most discussed topics in the Turkish housing sector. In February 2024, the volume of transactions involving foreign buyers reached a 33-month low, declining by 44.9% compared to February 2023. This downward trend continued in March, with a decrease of approximately 47%. These figures indicate shifts in market dynamics and suggest potential adjustments in investor strategies.

At BARNES Türkiye, we closely monitor changes in the real estate market and provide our clients with up-to-date information and professional advice. The significant price increase in Turkish real estate over the past five years confirms that investing in this market can be highly profitable.

If you are considering investing in Turkish real estate or want to learn more about current market trends, contact us. Our experts will help you find the best options for buying or selling properties, tailored to your needs and goals.

BARNES Türkiye is always looking out for your interests in the real estate world. We will assist you in making profitable investments and finding the perfect home in Turkey.