Iranians worried about US sanctions have increased property investments in Turkey

إيرانيين في تركيا

Iranians worried about US sanctions have increased property investments in Turkey

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According to Reuters, Iranians worried about US sanctions on their country have moved to Turkey during the year for buying property there and acquiring Turkish citizenship.

According to a Reuters report, the number of Iranians buying property in Turkey has doubled compared to the same period last year, and the number of Iranians has risen to second place among foreign real estate buyers in Turkey, followed by Iraqis.

Commenting on Reuters news, it was said that with the increase of US sanctions on Tehran, the Iranians, in order to protect their own savings, were trying to break the laws in their country and buy property in Turkey.

In an interview with an Iranian real estate agent who was working in an electrical shop and currently he helps his countrymen to buy property in Turkey, he explained that hundreds of self-employed Iranians had been forced to transfer money illegally ways since banks were reluctant to do so.

Also read: Fluctuation of the commercial real estate sector in Moscow

Concern over US sanctions increases

Reuters reported that the rise in the exchange rate in Turkey last year made the government sought to attract foreign exchange from abroad and for this purpose the government facilitated the acquisition of Turkish citizenship by buying real estate by reducing the amount required to buy property ,with the condition not to sell for 3 years, from one million to 250 thousand US Dollars.

Iranians are likely to come to Turkey for many resons and the most important reasons are that the majority of Turkey’s population is Muslim and Turkey does not apply US sanctions on Iranians who came as foreigners wishing to invest in Turkey.

In addition, the increase in US sanctions on the middle class of Iranians who want to protect their savings was an important reason for them to come to Turkey.

“Although hundreds of Iranian companies are investing in Turkey, but all these companies are only on paper, the main purpose of these companies is to easily transfer money to Turkey and get Turkish citizenship,” said an Iranian citizen who preferred to remain anonymous.

Edit By: Realty Group

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