Türkiye emerges as alternative route for global real estate investors

ISTANBUL

International real estate investors are increasingly turning to Türkiye as an alternative destination following escalating tensions between the United States, Israel and Iran.

The geopolitical crisis has disrupted Dubai’s property market, prompting investors to seek safer and more diversified options.

Data from DXB Interact shows that property sales in Dubai fell sharply after the conflict began. Between Feb. 2 and March 1, 17,027 units were sold, but in the following four weeks (March 2–29), sales dropped to 11,828 units — a decline of 30.5 percent.

Transaction volumes also fell by 36 percent, from $16.53 billion to $10.58 billion. Analysts expect the downturn to persist until a lasting ceasefire restores investor confidence.

Haitham Ahmet Alamarioğlu, CEO of Level Immigration & Properties, noted that Dubai’s appeal has diminished. He explained that investors are now asking critical questions about exit strategies, emphasizing the need for a “Plan B.”

“Historically, Dubai’s recovery from geopolitical shocks has taken 12 to 18 months,” Alamarioğlu said, but warned that this time the rebound could take even longer. He identified Türkiye, Greece and Panama as the three main alternatives for international investors.

He noted that Türkiye’s “citizenship by investment” program has been particularly attractive to buyers from Iran and the Gulf region. Alamarioğlu highlighted that visa-free travel, cultural familiarity and the ability to obtain full citizenship through property investment make Türkiye a reliable option. “For the nearly five million Iranians living in the Gulf, Türkiye offers not just an investment destination but also a place to build a sustainable life,” he said.

Alamarioğlu stated that Greece’s Golden Visa program makes the country stand out, noting, “Greece offers residency under the protection of EU law and a path to an EU passport after seven years.”

He also emphasized that Panama’s “qualified investor program” grants permanent residency within 30 days.

Özden Çimen, CEO of Parcel Estates, added that while Dubai remains competitive in terms of ownership rights, residency and financing opportunities, investors are diversifying geographically.

Cities such as London, Lisbon, Istanbul, Miami and Barcelona are increasingly being considered as portfolio destinations. Çimen stressed that this trend reflects a risk-spreading strategy rather than panic selling.