Who are the Foreigners Acquiring Property for Citizenship?
Citizenship by foreign investment seems to have exploded in the last two years!
Istanbul, Antalya and Ankara were the top three cities for foreign investment for citizenship acquisition in 2021. In 2020 the rate was 27.9%, whilst in 2021 it was at 22.1%. Although at first glance it seems that last year’s figures are lower than the same time period in 2020, in actual fact, the demand for citizenship in absolute value has increased.
For example, 68,168 real estate investments were made in Turkey in 2021. Of that number, 22.1% were for citizenship procurement. In Istanbul, around 80% of real estate purchased was to acquire citizenship.
According to data, the countries who made the most of this scheme were Iran in the first place, followed closely by Iraq, Afghanistan, Yemen, China and Palestine, with a few other countries following in last place. Most foreigners prefer to live in Istanbul, then the Antalya region, followed by Ankara, Yalova, Mersin and Izmir.