Iraq’s Turkiye property empire wanes: Fall from top spot continues

Shafaq News/ Iraqi nationals ranked fifth among foreign buyers of real estate in Turkiye in March.

According to the Turkish Statistical Institute (TurkStat), Turkiye’s overall home sales rose 5.1% year-on-year in March, with a total of 110,705 properties sold nationwide. However, sales to foreign nationals declined by 11.5%, totaling 1,475 homes, compared to the same month in 2024.

Russian citizens led the list of foreign buyers with 275 homes purchased, followed by Iranians with 153, Ukrainians with 124, and Germans with 97. Iraqis purchased 115 homes, placing them fifth on the list — marking a continued decline in their ranking in recent years.

Iraqis had consistently topped the list of foreign homebuyers in Turkiye since 2015. However, their ranking slipped to second place behind Iranians in early 2021, and then to third in April 2022, as Russians began to dominate the Turkish property market.