Nearly 20,000 investors have turkish citizenship in exchange for real estate investment According to statistical data on real estate investments for foreigners in Turkey, issued by the Turkish Statistics Authority, the number of apartments purchased by foreigners in Turkey has reached 287,704 in the last 10 years. As for the number of investors who have acquired Turkish citizenship since the decision to grant citizenship in exchange for a real estate investment, it reached 19,630 as of the end of 2021, and the number of properties owned by investors to obtain Turkish citizenship was 30,358. Over the past 10 years, 2.3% of the total number of apartments sold across Turkey during the period, which numbered 12 million, 263,850, were sold to foreigners, and Istanbul and Antalya were the top selling cities for foreigners during the same period. Iraqis are the most buying foreigners for apartments in the past seven years According to the statistical information mentioned, Iraqis ranked first among the most foreign nationalities buying apartments in Turkey between 2015 and 2022 with 43,351 apartments purchased. Iranians came in second with 29,992 apartments purchased in the last seven years, and Russians came in third with 18,238 apartments purchased during the same period. The top five foreign nationalities were the most purchased apartments in Turkey from 2015 until the beginning of this year as follows: figure Foreign nationality Number of apartments sold for nationality For the last seven years. 1 Iraqis 43,351 apartments 2 Iranians 29,992 apartments 3 Russians 18,238 apartments 4 Saudis 15,290 apartments 5 Kuwaiti 12,689 apartments Turkish nationality is one of the most important objectives of buying property in foreigners Nazmi Dor Bakim, president of the Association of Owners of Construction Companies in Turkey, said in a press statement that Turkish citizenship is at the forefront of foreigners' objectives of buying property in Turkey, noting that three out of four properties purchased by foreigners are intended to be purchased in order to obtain Turkish citizenship. With regard to the recent decision to raise the value of the property eligible for Turkish nationality to $400,000, Bakim said, "The decision to raise the value of the property eligible for Turkish nationality is the right one and will have positive effects in many respects, and I do not think it will be a major obstacle to those who wish to invest the property to obtain citizenship." The Turkish government has passed a new amendment to the law granting Turkish citizenship to foreigners purchasing property in Turkey, as the new resolution published in the Official Gazette last Friday raised the value of properties eligible for Turkish citizenship from $250,000 to $400,000.