Iraq is at the forefront.. Learn about Iraqi investments in Turkey's real estate 2022

  • Created At: October 16, 2021
  • Updated At: October 16, 2021
  • Category: General
  • Views: 2429

The Iraqis in Turkey for several years have owned many of the ingredients that make them the most in demand for real estate ownership in Turkey. And they were at the forefront of the foreign communities buying Turkish real estate, but the past two years witnessed a slight advantage over the Iranian community, but the statistics for the months of May and June came from 2021 to bring the Iraqis back to the fore again. This article will be a detailed report on July statistics, the position of Iraqis in Turkey in the field of real estate ownership, the reasons that led to their supremacy once again, and the future of the Iraqi community's investment in real estate in Turkey.

According to June 2021 statistics, among the 4826 properties in Turkey that were sold to foreigners during the month of June, the number of properties purchased by Iraqis residing in Turkey amounted to about 773 properties. This is the highest percentage of real estate ownership among foreign nationals, and Iraqis alone represent 16% of the total real estate sales to foreigners in Turkey.

By comparing the Iraqi and Iranian societies, as we mentioned, they are two of the most prominent contenders for the first place in real estate ownership statistics in Turkey. However, Iraqis in Turkey outperform the Iranian community after the first third of the year.

Iraqis own property in Turkey over the past years. The Iraqi community in Turkey confirmed that it is one of the most foreign communities desire to own real estate on Turkish lands, especially with regard to the field of owning apartments in Turkey. You can see accurate numbers and statistics for the number of properties that have been transferred to Iraqi residents in Turkey during the past years:

In 2021 (so far) it is 3019

In 2020 was 6674

In 2019 was 7596

In 2018 was 8205

In 2017 was 3805

In 2016 was 3036

The years 2018 and 2019 were among the years that witnessed a great demand by Iraqis in Turkey to buy apartments in Turkey, and 2020 witnessed a slight decline due to the Corona crisis and the repercussions of this epidemic on the labor and tourism sectors, which affects the idea of ​​foreigners owning real estate in Turkey. The Iraqis returned to Turkey to prove their attractiveness again towards buying houses in Turkey since the beginning of 2021, and their demand increased with the beginning of summer clearly, with expectations of a greater increase during the second half of 2021 for the countries preferred by Iraqis.

Iraqis represent the largest foreign community in Turkey after the Syrian community. The number of Iraqis in Turkey is estimated at about 700,000 Iraqi residents. The Iraqis are distributed in several Turkish states that they mainly prefer, namely: Istanbul, which is the most vibrant city in Turkey, and is considered the most attractive to all foreigners in Turkey.

The turnout of Iraqis in Turkey to move to live in Istanbul has increased significantly during the past three years due to the migration of Iraqi capital and businessmen, and their choice of Istanbul as a headquarters for establishing commercial companies and new projects, and starting from various economic activities. And this is born of able Iraqis, an increasing desire to own apartments in Istanbul and Ankara.

Iraqis come to Ankara due to the increase in industrial activity in it, and the state's facilities for Iraqi investors to open industrial interests for them, and to run their own factories and workshops, and because there are job opportunities for Iraqis in Ankara.

Another state is Samsun where the name Samsun is closely related to Iraqi society and the largest percentage of Iraqis in Turkey belong to Samsun. Even the Iraqis who owned real estate in Istanbul or Ankara did not stop them from buying real estate in Samsun.

Reasons why Iraqis want to own property in Turkey

The geographical proximity between Iraq and Turkey made it easy to choose it as a first destination for Iraqis to travel, especially with the difficulty of life in other countries neighboring Iraq, and Turkish laws are more tolerant of Muslims and Arabs than the laws of European and American countries, so the eyes of Iraqis turned directly to Turkey.

Ease of Iraqi travel to Turkey: There are 17 daily travel trips from Iraq to Turkey, i.e. approximately 3,500 Iraqi travelers, for ease of travel procedures, ease of obtaining a visa, and the ability to travel by land and air between the two countries.

The close relationship between the two countries, where the stability of political and economic relations between Turkey and Iraq plays an important role in increasing the number of Iraqis who are more interested in owning real estate in Turkey. Also, the close social and cultural ties between Turks and Iraqis facilitated the conditions for Iraqis to adapt in Turkey, and to engage in practical life in an easy and uncomplicated way.

The living conditions in Turkey are more encouraging. Life conditions in Turkey are more comfortable for Iraqis than life in their country because of the poor living conditions in Iraq, especially with regard to services, where Iraqis suffer from frequent power cuts and difficulty in living, and providing basic life necessities. In Turkey, Iraqis benefit from a number of integrated services: gas, electricity, water, telephone, and so on, not to mention the high cost of living.

Real estate laws in Turkey encourage Iraqis to own property. Also, the real estate laws in Turkey are very encouraging for ownership, especially with regard to real estate residency laws and obtaining Turkish citizenship by buying a property, as it is one of the most incentives to owning real estate in Turkey. By the way, Turkish statistics indicate that Iraqis are the most foreigners who obtain Turkish citizenship by investment. The percentage of property ownership in Turkey for Iraqis is increasing. It is expected that the number of properties that Iraqis will buy in Turkey by the end of 2021 will reach no less than 8000 properties in Turkey, as the real season for selling real estate in Turkey begins between the ninth to eleventh month, which means that Iraqis in Turkey have a unique opportunity to prove their leadership In this golden sector with full force.

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