Turks Break Record in Overseas Property Investments as $2.5 Billion Flows Abroad

Turkish investors are increasingly turning their attention to foreign real estate markets, with new data showing an unprecedented surge in overseas property purchases. According to the Central Bank of the Republic of Turkey (CBRT), residents bought a net $288 million worth of real estate abroad in August 2025 — the highest monthly total ever recorded.

Over the past 12 months, Turkish investors’ foreign real estate purchases have surpassed the $2.5 billion mark for the first time, reaching $2.562 billion. This figure not only breaks the previous 2024 record of $2.153 billion but also represents more than a tenfold increase since 2019, when overseas property investments totaled just $196 million.

Experts say that this rapid rise underscores a major shift in investor sentiment as domestic housing markets become increasingly unaffordable and unpredictable.

A Reverse Flow: More Turks Buying Abroad Than Foreigners Buying in Turkey

While Turkish citizens expand their footprint abroad, foreign investors appear to be cooling on the Turkish market. In August, foreigners purchased $202 million worth of property in Turkey, bringing the 12-month total to $2.217 billion — well below the outflow generated by Turkish buyers abroad.

Analysts note that this is the first time the outward property investment by Turks has outpaced foreign inflows, marking a symbolic reversal in the country’s real estate dynamics.

Why Turks Are Investing Abroad

Economists and real estate analysts point to several reasons for the growing trend:

• Soaring property prices in Turkey’s major cities such as Istanbul, Izmir, and Ankara.

• High mortgage rates that have made domestic housing increasingly inaccessible.

• Longer investment return periods, as rental yields fail to keep pace with rising purchase prices.

• Legal and regulatory uncertainty in the real estate sector, which has prompted investors to seek more predictable markets abroad.

This combination of factors has led to an accelerated capital flight into foreign housing markets, particularly in Europe and the Gulf region.

Greek Islands and Gulf Cities: The New Real Estate Destinations

Though official CBRT data does not specify destination countries, market trends and industry reports highlight Greece and the United Arab Emirates (UAE) as the top choices for Turkish investors.

Over the last three years, CBRT figures show Turkish direct investments — including property — have soared:

• In Greece, from $61 million to $1 billion.

• In the UAE, from $743 million to $1.627 billion.

The shift reflects both geographic proximity and investment incentives. In Greece, for example, investors gain access to the “Golden Visa” program, offering residence permits in exchange for property purchases of at least €250,000.

The Golden Visa Boom

Interest in Greece’s Golden Visa scheme has exploded among Turkish nationals. According to data published by Ekathimerini, the number of Turks approved for the visa program surged 152% year-on-year as of July 2025, reaching 2,449 approvals.

The scheme grants five-year residence permits to non-EU citizens who invest in Greek real estate, providing not just property ownership but also visa-free access across the Schengen Area — a strong incentive amid Turkey’s economic volatility and currency fluctuations.

Meanwhile, in the UAE, favorable tax policies, stable governance, and a vibrant rental market have made Dubai and Abu Dhabi particularly appealing to Turkish high-net-worth individuals seeking hard currency assets and lifestyle opportunities.

A Broader Economic Signal

The record-breaking surge in foreign property purchases highlights both increasing wealth mobility and domestic economic unease. As inflation and currency depreciation continue to erode local purchasing power, investors appear eager to diversify assets abroad — not only for financial gain but also for security, stability, and international access.

While officials frame the data as part of global investment diversification, analysts caution that persistent capital outflows could strain domestic liquidity and signal waning confidence in Turkey’s housing market and broader economic outlook.

Still, for thousands of Turkish investors, the logic is clear: in uncertain times, property abroad offers more than a roof — it offers residency, stability, and a hedge against volatility.