“With stunted supply in new builds due to restrictions and raw material prices combined with regional demand due to instability in Iran, Iraq, and Afghanistan, we have seen an increase in Turkish real estate prices and no sign of cooling down,” says Ahmet Şener, Managing Director and Founder of Smar
ISTANBUL, Turkey (PRWEB) August 19, 2021
The real estate market in Turkey is booming. Urban home prices worldwide rose at their fastest rate since 2007 with Turkey recording the highest rate of annual price growth according to International property broker Knight Frank’s latest Global Price Index which found a 32% change in Turkey (Q1 2020 – Q1 2021). Data shows that foreigners bought 14,000 residential properties in Turkey in the first four months of the year, with a strong preference for real estate in the major cities of the country.
The Turkish Citizen By Investment (CBI) Program grants residency, citizenship, and a second passport to foreign investors who make a minimum investment of 250,000 USD and pledge to hold the property for 3 years. Foreign investors were attracted to this program when they saw real estate prices rise by an average of 5-20% per year, and since the beginning of the coronavirus pandemic, saw prices increase by 15-30%, according to the head of the Chamber of Realtors, Antalya Seref Saglam. With no restrictions in the Turkish CBI program for an applicant’s country of origin, this route is a popular option for those who are banned from participating in the programs of other nations.
Although the pandemic has affected property investment worldwide, Iranians, Iraqis, and Russians were the top three countries whose citizens bought the most Turkish property in 2020, according to the Turkish Institute of Statistics, 2020.
An investor in the Turkish Citizenship program from Iran, Azadeh F. says, “The Turkish program is almost tailor-made for the Iranians. It’s ‘halfway’ between a European country and Iran. There is no cultural shock, but the upgrade in lifestyle and safety is indisputable.”
Consulting firm Ernst & Young’s recent Attractiveness Survey Report June 2021 revealed that despite the 13 percent decline in the number of Foreign Direct Investment (FDI) projects in Europe due to Covid and global economic uncertainty, FDI projects in Turkey increased 18 percent in 2020, making it one of the largest investment destinations in Europe. The economic confidence index in Turkey increased in July of 2021 to the highest since May of 2018.
“With stunted supply in new builds due to restrictions and raw material prices combined with regional demand due to instability in Iran, Iraq, and Afghanistan, we have seen an increase in Turkish real estate prices and no sign of cooling down,” says Ahmet Şener, Managing Director and Founder of Smart Citizenship. “The increase in remote working and mobility combined with our algorithmic thinking and big data have allowed us to become the next generation of Citizenship By Investment. Our insight into the aspirations and needs of our clients is why we can successfully match the right route and investment with the right client,” says Şener.
In addition to opportunities for capital appreciation, there’s been a growing demand for “Plan B” passports and citizenships. Investors desire risk-free legacy planning for their family including taxation, diversified income, and geopolitical risk insulation. Expanded visa-free travel and enhanced global opportunities including education and business prospects are also factors.
About Smart Citizenship
Smart Citizenship is a next-generation Residence and Citizenship by Investment Boutique with a presence in three outbound and ten inbound markets. The pioneering immigration investment boutique is managed by a team of industry veterans to revolutionize the RCBI (Residency and Citizenship by Investment) industry. Keeping both the investor and the product owner at arm’s length, Smart Citizenship focuses on the developing world where people look for cross-border investments plus citizenship connected to their investment. Smart Citizenship uses Smart Choice, an algorithm that grades potential investments and guarantees access to insider data that offers growth opportunities and data-driven strategies. Since its founding, Smart Citizenship’s international team has raised over €55 Million in capital, and successfully helped clients from 24 countries. For more information see http://www.smartcitizenship.com
About Ahmet Şener
Ahmet Şener is one of the earliest promoters of residency by investment programs in Turkey. In 2018 and 2019 alone he onboarded 160+ investors from 19 different countries to the Turkish CIP and the Portuguese Golden Visa. In 2021 Şener founded Smart Citizenship.As Managing Partner of Smart Citizenship, Şener led the team that created an algorithm based cross-border investment decision support system. Şener has a diverse professional background in digital marketing, real estate, education technologies, and investment immigration. He is the former Vice President, Marketing at Optylon Krea, a Pan-Mediterranean investment management and real estate development company,
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