ReportageNationals of the Islamic Republic fleeing the crisis are the first foreign buyers in Turkey.
Like every day for the past week, Reza (assumed name) has put on a loose coat to protect himself from the cold and sneakers to keep visiting apartments and houses in Istanbul. ” The day is going to be long “, specifies this Iranian businessman, who arrived in Istanbul at the end of November. On this early December day, he travels to the relaxed residential district of Kadiköy, located in the Asian side of Istanbul, to visit apartments at Park Residence, a complex home to many Iranians.
“I make between three and four visits per day”, explains this father of two children aged 2 and 7 who, like many Iranians, is looking to buy real estate worth at least $ 250,000 (or 206,400 euros), a threshold that allows obtain Turkish nationality. Of Islamic culture, like its Iranian neighbor, Turkey is one of the few countries in the world to exempt Iranians from visa requirements, thus becoming one of their favorite destinations, both for tourism and for living.
After the currency crisis of 2018, which tipped the Turkish economy into recession, Ankara made it easier for foreign nationals to obtain its citizenship, lowering the threshold for real estate investment from $ 1 million to 250,000.
Thus, the Iranians became the first foreign buyers on Turkish soil, followed by the Iraqis. Of the almost 37,000 properties sold since the start of 2020, 18% have been acquired by Iranians, 40% more than in the same period a year ago.
Blatant recession
Reza, who reports having spent half of his life abroad – “In the United Kingdom, Australia and China” -, would not have ” never “ imagined trying to get another passport and leave Iran. “I have always been a zealous nationalist, he estimates, laughing at himself. But the situation in Iran has become unbearable. “
The main reason he cites is air: “In Tehran, and even in the smallest towns, it has become unbreathable, supports Reza. This is because of the poor quality of gasoline produced in Iran, due to the sanctions [américaines] which prevent the country from importing it. But more generally, the authorities are not able to manage the country either. This is why we must flee. “
For two years, the American embargo has returned against Iran, making it difficult, if not impossible, to sell its oil and do banking transactions with the world. This situation follows the unilateral withdrawal, in 2018, of the United States from the agreement on the nuclear issue, signed with the international community in 2015. Thus, the Iranian economy, already strangled by mismanagement and endemic corruption, dark in a glaring recession.
You have 62.24% of this article to read. The rest is for subscribers only.
