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The amount paid by Turks for real estate purchases abroad fell 18% year-on-year in March to $187 million, affected by the fallout from the war between the United States, Israel and Iran.
According to the balance-of-payments data released by the Central Bank of the Republic of Türkiye (CBRT), Turkish residents’ overseas real estate purchases had risen to $2.675 billion in 2025.
The figure increased 44.4% year-on-year to $208 million in January and 18.4% to $225 million in February.
However, the latest data showed a decline in overseas property purchases following the conflict that began with U.S. and Israeli strikes on Iran on Feb. 28 and Tehran’s retaliatory actions affecting Gulf countries.
Accordingly, the amount paid by Turkish residents for foreign property purchases dropped to $187 million in March, marking the lowest level recorded in the past 13 months. The figure had stood at $227 million in March 2025.
Turkish residents’ overseas real estate purchases fluctuated throughout 2025, rising from $144 million in January to a yearly peak of $288 million in August before easing toward the end of the year. After reaching $252 million in December, purchases stood at $208 million in January 2026 and $225 million in February before falling sharply in March.
Experts said Dubai, one of the top destinations for Turkish real estate investors, was directly affected by the economic and geopolitical consequences of the conflict, contributing significantly to the slowdown.
Chairman of the Association of Real Estate Service Exporters (GIGDER) Bayram Tekce told Anadolu Agency (AA) that Dubai and Greece remain among the leading destinations for Turks purchasing homes abroad.
“Dubai is among the most preferred countries and regions abroad for Turks buying homes. The attacks there in March almost completely halted purchases from this market. Therefore, this situation caused sales to decline,” Tekce said.
“On the other hand, Greece’s negative stance toward Türkiye in recent months has also partially negatively affected purchases from that country. Greece’s cooperation with Israel and the Greek Cypriot administration of Greek Cyprus, as well as attempts to station troops and arm the islands, are negatively affecting our investors,” he added.
Tekce noted that activity in Dubai’s housing market has partially resumed during the current ceasefire period.
“Although it is not like before, there is movement again among Turkish buyers. There are no openly advertised campaigns right now, but when we go with customers for purchases, we can obtain discounts of around 15%-20%,” he said.
International real estate expert and Woven CEO Burak Ustaoglu also described the March decline as temporary.
“The biggest reason for this was the short-term waiting period in the Dubai market, where Turkish investors are most active. However, returns have recently started again. Demand is rising once more,” Ustaoglu said.
He added that Turkish investors have also increasingly turned to alternative markets such as Greece, particularly because of programs like the Golden Visa.
Ustaoglu said his company continues to maintain active contact with embassies and international business circles to facilitate investment processes effectively.
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