Residence Demand of Foreigners in Istanbul and Antalya May Shift to New Districts

The residence demand of foreigners in Istanbul and Antalya may shift to new districts

Evaluating the closure of 1,169 neighborhoods to the residence of foreign nationals, Tekçe Overseas Chairman of the Board Bayram Tekçe said that after the decision, the demand of foreigners in Istanbul, Kadıköy, Kartal and Maltepe on the Anatolian side; In Antalya, he said that he could turn to coastal neighborhoods such as Altıntaş, Lara and Döşemealtı.

The Directorate of Migration Management announced that as of July 1, 2022, 1,169 neighborhoods in 62 different provinces, whose number of foreigners exceed 25 percent of the total population, will be closed to new residences for foreign nationals. Accordingly, foreign nationals will not be able to obtain a residence permit even if they buy property in these closed neighborhoods, where the relevant rate will be limited to 20 percent as of July 1st.

Evaluating the effects of the regulation on the real estate sector, Tekçe Overseas Chairman of the Board of Directors Bayram Tekçe reminded the article of the current Land Registry Law, which regulates the acquisition of real estate by foreigners in Turkey, stating that the total area of ​​real estate cannot exceed 10 percent of the area subject to private ownership in a district. Tekçe said, “With the new regulation brought for the neighborhoods that exceed the limits of foreign residence due to irregular migration, it is aimed to protect this ancient border existing in the Land Registry Law. Thus, it will be possible to prevent the risk of ghettoization created by irregular migrants in some regions.” said.

Residence permit requests will be directed to neighborhoods close to the beach
Tekçe said that Fatih is the neighborhood most closed to foreigners’ residence in Istanbul. “With the decision, 13 neighborhoods in Istanbul Fatih, 10 neighborhoods in Beyoğlu and 8 neighborhoods in Esenyurt were closed to new foreigners. In Istanbul, there are also Avcılar, Bahçelievler, Başakşehir, There are also closed neighborhoods in Beşiktaş, Beylikdüzü, Küçükçekmece, Sarıyer, Şile, Şişli, Tuzla, Ümraniye and Zeytinburnu, while in Antalya Alanya 4, Konyaaltı 3 took their place in the decision.In this context, Port, Hurma and Sarısu and Alanya in Antalya Mahmutlar, Kestel, Kargicak and Avsallar are closed to new foreigners.” used the expressions.

Indicating that the demand for real estate with a residence permit may spread to neighborhoods close to the coast from now on, Tekçe said, “Foreigners who want to buy a house in Istanbul may prefer Kadıköy, Kartal and Maltepe on the Anatolian side. We expect Altıntaş, Lara and Döşemealtı regions in Antalya, and Payallar, Konaklı, Okurcalar and Oba in Alanya to be more popular by foreigners.”

“Foreigners with title deeds should not worry”
Pointing out that foreigners who will invest in real estate should be properly informed about the closed neighborhoods and that certificates of eligibility for residence will no longer be issued in these neighborhoods, Bayram Tekçe said, “As soon as the announcement was made, we informed our professionals who guide foreigners at all stages from the purchase stage to obtaining their residence permits. Foreign investors who will acquire residency and citizenship through investment as of July 1 should carefully examine the list. Owners of titles already in the described closed neighborhoods should not worry, as they will still be able to receive residence permit renewals.” made its evaluation.

Irregular migrant influence dominates Southeast
Reminding that there are approximately 4 million Syrian refugees scattered all over the country, especially the Syrian border, Bayram Tekçe said, “Most of the closed neighborhoods are located in Gaziantep, Kilis, Şanlıurfa and Hatay, which are the border provinces of Syria. In addition, there are 3.5 million immigrants who cross the borders and do not return to their countries. These irregular migrants are mainly from many countries such as Iraq, Iran, Afghanistan, Pakistan and Somalia and generally live in Istanbul and Ankara. These irregular migrants were able to obtain a residence permit when they rented a house, but recently the residence permits issued by rentals have been stopped.” said.

“Foreigners who buy a house for the holidays will not be impressed”
Stating that foreigners who buy a house for vacation will not be affected much by the regulation, Tekçe said, “Every foreigner can stay in Turkey for 180 days without a residence permit only with a tourist visa. Many holiday home buyers, such as Germans, Scandinavians or Brits, do not live in Turkey more than 180 days a year. Since they do not need a residence permit, they can buy a house from anywhere they want. Due to the cessation of foreign demand, prices may decrease a little in these closed neighborhoods.” said.