War Outbreak Halts Overseas Property Purchases: Turkish Capital Hits 13-Month Low in March
"CNBC-e: Geopolitical conflicts in the Middle East dragged Turkish overseas real estate investments down by 18% in March to $187 million. Woven CEO Burak Ustaoğlu considers this a temporary cooldown."
CBRT Data Reveals Geopolitical Headwinds in Capital Outflows
Bilateral economic data released by the Central Bank of the Republic of Turkey (CBRT) clearly indicates the immediate shockwaves of the late-February geopolitical crisis on international real estate demand. The total amount spent by Turkish residents on global real estate declined by 18% year-over-year in March 2026, dropping to $187 million—marking the lowest monthly figure in the last 13 months.
Market analysts note that a near-total standstill in transactions within Dubai—traditionally one of the primary targets for Turkish offshore capital—during the opening weeks of the conflict catalyzed this sharp correction. Concurrently, defensive diplomatic stances in alternative European markets like Greece also temporarily checked investor sentiment.
Burak Ustaoğlu: "A Temporary Market Cooldown; Demand is Already Bouncing Back"
Providing an on-the-ground assessment, Woven CEO Burak Ustaoğlu offered a reassuring perspective regarding the sudden market contraction. Speaking to CNBC-e, Ustaoğlu evaluated: "The 18% dip recorded in March reflects a purely situational and temporary pause. As the conflict escalated, Turkish high-net-worth individuals naturally adopted a cautious 'wait-and-see' approach in Dubai. However, market dynamics are recovering quickly; we have seen a substantial resumption of inquiries and transactions over the past few weeks as buyer confidence returns."
Strategic Alignment via Diplomatic and International Networks
To help investors navigate these fluctuating global landscapes, Ustaoğlu emphasized that Woven Global remains in constant active dialogue with embassies and international financial networks. This ensures secure pathways for Turkish capital not only in the Gulf but also across European Golden Visa destinations. Industry insights also reveal that amidst the current ceasefire breathing room, institutional developers in Dubai are quietly offering off-market discounts of 15% to 20% along with flexible payment schedules to close deals with serious buyers.
Source: CNBC-e – Full Report