Turks Bought $2.4 Billion in Overseas Housing in 11 Months

Turks Bought $2.4 Billion in Overseas Housing in 11 Months

According to Central Bank of the Republic of Turkey (CBRT) balance of payments data, the amount paid by Turkish residents for overseas real estate purchases rose 26.2% year-on-year in January–November 2025 to reach $2.423 billion — an all-time high. The peak monthly figure was $288 million in August; the lowest was $144 million in January.

UAE, Greece, US and UK Lead the Market

GİGDER Chairman Bayram Tekçe noted that overseas housing demand has grown strongly over the past few years, driven primarily by lengthening domestic payback periods and inflation. He identified the UAE and Greece as the two markets with the strongest current demand, citing Dubai's institutional, transparent property market and low-tax investment advantages. Greece appeals through its Golden Visa program and tourism sector, offering EU residency and Schengen freedom of movement. Tekçe underlined a stark contrast: domestic rental payback in Turkey can stretch to 30 years, while in Dubai it ranges between 12–15 years. The US and UK continue to attract steady interest for currency-denominated income, residency, and education.

Average Spend: €500,000

Tekçe noted Golden Visa purchases range from €250,000 to €1 million, averaging €500,000, with buyers gravitating to centrally located, easily managed, newly built properties. He also highlighted alternative markets: Spain's southern coast, Malaga and Barcelona remain active; Hungary, which launched a Golden Visa program, and EU-candidate Balkan countries offer affordable entry with visa flexibility.

From $216 Million in 2021 to $2.6 Billion Today

International real estate expert Burak Ustaoğlu summarized the scale of growth in his comments to Anadolu Agency: "The level that stood at $216 million in 2021 has now cumulatively surpassed $2.6 billion. This represents approximately a 12-fold increase in scale. The upward trend in overseas investment has been extremely sharp."

Identifying three core motivations behind this surge, Ustaoğlu explained: "These are 'currency risk and asset diversification', 'return calculation', and 'life planning and the visa/residency equation.' Along the Dubai–Athens–London corridor, demand starts as an investment decision and very quickly becomes a family relocation plan; in Baku, more accessible budgets and regional mobility motivations are coming to the fore." Ustaoğlu also flagged Montenegro and Baku as increasingly prominent emerging destinations alongside Dubai, Greece and the UK.

Could Exceed $6 Billion by 2026–2027

International real estate expert Özden Çimen projected that Turkish overseas housing expenditure could surpass $6 billion in the 2026–2027 period. "Behind this growth are not just domestic market conditions but investment opportunities offered by foreign markets. Profit potential, currency-denominated rental income, and improving visa conditions are directing Turks toward overseas housing investment." Çimen noted Turkish nationals remain in the top 10 buyer nationalities in Dubai and observed that Turkish buyers generally prefer apartments over villas, favoring newly launched installment-based projects with high return potential.

Source: Capital – Read the Full Article