(TÜRKIYE) — Foreign buyers purchased 21,534 homes in Türkiye in 2025, down 9.4% from 2024, as a price surge, a fraud investigation tied to citizenship applications and tougher international scrutiny reshaped a market that once drew large inflows.
The Turkish Statistical Institute (TÜİK) figures showed foreign buyers’ share of the overall housing market fell to 1.3% in 2025, down from a peak of 4.5% in 2022, even as Istanbul and Antalya remained the biggest hubs for international demand.
Where buyers came from and regional hotspots
Russian nationals stayed the largest buyer group with 3,649 units, followed by Iranians, Ukrainians, Germans, and Iraqis, the TÜİK data showed. Istanbul recorded 7,989 sales to foreigners and Antalya 7,118.
The decline in purchases by foreigners has sharpened debate over home sales to foreigners and the role of Citizenship by Investment (CBI) in a country where Turkish citizens face an affordability crisis.
Why foreigners buy in Türkiye
Foreign buyers typically cite three overlapping motives for buying in Türkiye: lifestyle, investment returns and residency planning. In practice, these goals can pull a purchase in different directions, especially when buyers aim to pair a property deal with a citizenship pathway that carries its own documentation and compliance burden.
Buyers face a basic distinction that shapes nearly every decision: a standard property purchase versus a purchase structured to support a Citizenship by Investment application. A buyer can complete a normal transaction and never pursue a passport, while a CBI-driven purchase often brings extra scrutiny around pricing, funding flows and how the property gets recorded.
Practical checks and common hurdles
Even before a viewing, foreigners often run into practical checks that do not affect local buyers in the same way, including nationality-based limitations, restricted zones and the title deed status of the property. Those checks, along with routine due diligence, can determine whether a buyer can proceed at all.
Funding plans often come next, especially for buyers moving money across borders. In CBI-linked purchases, buyers generally treat the funding trail as part of the application record, not just a banking detail, because authorities can scrutinize proof of funds and how payments moved.
Due diligence begins with confirming that the property exists as marketed and that its status supports the intended use. Buyers often focus on title deed checks to confirm ownership and encumbrances, and they pay close attention to whether the property sits in a restricted zone for foreign ownership.
Valuation and appraisal expectations can play a central role even for buyers who are not pursuing citizenship, because the appraised value can shape financing, taxes and later resale. For those linking the purchase to CBI, consistency between the purchase price, valuation documents and payment records often becomes a make-or-break issue.
Documentation, registration and closing
Foreigners also generally need practical setup steps that locals may already have, including a tax number and banking basics that support lawful transfers and registration. Those steps can affect the timeline because delays in banking or documentation can push back closing dates.
The core transaction usually ends at the land registry with a formal transfer and issuance of the tapu, Türkiye’s title deed. Buyers often treat that stage as the point when legal ownership changes hands, while earlier stages revolve around deposits, contracts and document preparation.
Because many buyers rely on third parties, risk often concentrates in representation and document handling. In a market shaped by a fraud investigation, buyers commonly seek clearer documentation, ensure translations match originals and verify that all filings reflect the same personal details and the same property description.
Fraud investigation and policy responses
Rules and enforcement can change. September 2025 marked a turning point when Turkish Interior Minister Ali Yerlikaya confirmed an investigation into the “BABATAK” criminal network, which authorities said facilitated fraudulent real estate sales for citizenship.
That investigation triggered the revocation process for 451 foreign investors who used sham transactions to meet the $400,000 threshold, and authorities moved to seize assets, including 1,240 apartments.
The same period brought stronger signals from the United States about “Golden Passports,” a label often used for citizenship-by-investment programs. On January 1, 2026, the U.S. government put Presidential Proclamation 10998 into effect and said:
“The administration specifically flagged ‘citizenship by investment’ programs, often called ‘Golden Passports.’ Officials view these as security loopholes that allow individuals to bypass travel restrictions by purchasing a second nationality.”
Those pressures — and the criminal probe — have changed how many buyers and intermediaries approach the market. With 451 foreign investors facing revocation and authorities moving to seize assets including 1,240 apartments, transaction counterparties have incentives to insist on cleaner documentation and more verifiable pricing.
Process checklist for buyers
For many buyers, the immediate question is not politics but process: how to buy safely, transfer funds cleanly and secure a title deed that matches what was promised. The most common delays start with basics such as budgeting, paperwork consistency and the choice of professionals.
- Choose a location that fits the buyer’s purpose and set a budget beyond the sale price.
- Confirm closing costs, fees and taxes that vary by municipality and circumstances.
- Establish a funding plan for cross-border transfers and preserve proof of funds.
- Conduct title deed checks, verify encumbrances and confirm restricted zone status.
- Coordinate valuations, translations and apostilles so documents align at closing.
For CBI-linked purchases, buyers generally treat the funding trail and valuation paperwork as part of the immigration record and ensure consistency across all documents and transfers.
Family, translations and post-approval planning
Family considerations influence planning, including who the application may cover and how each family member’s documents will be presented. Buyers often discover late that mismatched spellings, missing civil records or inconsistent translations can slow an application.
Translations and apostilles can become a practical bottleneck for foreign families, especially where documents originate in multiple countries. Buyers who plan early often coordinate document preparation with the expected closing date so that property records and immigration filings remain aligned.
After approval, investors typically face decisions about maintaining the qualifying investment for the required period and planning the timing of any resale. Buyers also raise tax and estate-planning questions, especially if the property will be held long term or used by multiple family members.
International implications and official guidance
For applicants who interact with foreign governments after acquiring citizenship, the purchase can have consequences well beyond Türkiye. The U.S. embassy notice issued on January 21, 2026 tied visa processing to Presidential Proclamation 10998 and said:
“Pursuant to Presidential Proclamation 10998. the United States is suspending or limiting entry and visa issuance to nationals of 39 countries. [and] individuals applying using travel documents issued or endorsed by [certain authorities]. Applicants may be ineligible for visa issuance or admission if they cannot provide reliable identity data.”
The notice also said Turkish citizens remain eligible for E-2 Treaty Investor visas, while vetting has tightened. For some investors, that puts a premium on ensuring any citizenship obtained through investment remains “genuine and lawfully obtained” for E-2 purposes, a point the U.S. has emphasized.
Several official sources provide reference points that foreign buyers use when checking requirements and following policy changes. Among them are the Turkish Statistical Institute (TÜİK), which publishes housing data; the U.S. Embassy in Türkiye, which posts notices affecting visa applicants; the USCIS Newsroom, where U.S. immigration updates can appear; and the U.S. Department of State’s Investment Climate Statements, which include material on Türkiye.
Market outlook and final observations
Türkiye’s foreign sales numbers hit a nine-year low as of 2025, a development that some in the domestic market view as potential relief, though prices remain high amid currency volatility and construction costs.
The fraud investigation and tightened international scrutiny have made legitimate pathways more complex: a purchase intended to support Citizenship by Investment can require tight coordination between the closing process, valuation paperwork, banking records and the immigration file, and mistakes can become expensive.
For many foreigners, the biggest lesson in Türkiye’s shifting market is that property ownership, immigration pathways and international mobility now intersect more directly than before. As the U.S. proclamation put it, “Officials view these as security loopholes that allow individuals to bypass travel restrictions by purchasing a second nationality.”
