REAL ESTATE

• 8.3 million residences were sold in Turkey between 2015 and 2020.
• 189,000 houses were sold to foreigners in Turkey between 2015 and 2020.
• There was 5.6 million m2 Class A office supply in Istanbul in 2020.
• There was 13.6 million m2 active gross leasable area in shopping malls across Turkey in 2020.
• There was a total of 10.2 million m2 logistics real estate stock in Istanbul and Kocaeli in 2020.
• 318,000 m2 logistics leasing transaction was made in 2020.

The most recent regulation regarding the acquisition of Turkish citizenship for foreign investors was adopted in 2018. Accordingly, the process became easier by reducing the amount of investment of foreign investors to obtain citizenship from $1,000,000 to $250,000. Foreigners who acquire real estate worth $250,000 in Turkey have the right to apply for Turkish citizenship. This right is applicable for not only to the investor, but also to his/her legally married spouse and children under the age of 18. International investment inflow to Turkey was 7.8 billion US dollars in 2020. The share of real estate in this amount was 4.4 billion US dollars (57%).