Wealthy Turks Have Shifted Their Route to Living in Dubai
"Ensonhaber: Turkish nationals purchased over 10,000 properties in Dubai in 2024. CBRT data shows overseas real estate investments hit $2.513B as Dubai became the top destination for Turkish buyers."
Wealthy Turks Have Shifted Their Route to Living in Dubai
Turkish citizens' interest in overseas real estate has surged in recent years, with Dubai emerging as the most prominent destination for this investment flow. According to Central Bank of the Republic of Turkey (CBRT) balance of payments data, Turkish citizens' overseas real estate investments reached $2.513 billion in 2024 — and more than 10,000 properties in Dubai were purchased by Turkish nationals that year alone.
Turkish Citizens Among the Top 3 Investors in Dubai Real Estate
Real Estate Investment Advisor Burak Ustaoğlu shared his assessment: "Turkish investors' appetite for overseas real estate is growing. In 2024, Turkish nationals purchased more than 10,000 properties in Dubai. Turkish citizens now rank among the top three nationalities investing in Dubai real estate."
While Turkey Awaited Arabs, Wealthy Turks Came to Dubai
Emphasizing how rapidly Turkish investor interest has grown, Ustaoğlu stated: "While Turkey was waiting for wealthy Arabs, wealthy Turks came to Dubai. There are investors who purchase entire floors in a single transaction — some even buy multiple floors at once."
USD-Denominated Rental Yield Is a Powerful Investment Case
Highlighting the key advantages of Dubai's USD-based rental returns, Ustaoğlu explained: "The average payback period in Dubai is 10–12 years. In some opportunity zones, this can drop to 7–8 years. One of the biggest advantages is zero tax — you pay no tax on rental income, and even if your property appreciates in value, there is still no tax. We project that Dubai will continue to grow in real estate in the years ahead."
Turkish Investor Purchased Dubai's $130M Most Expensive Penthouse
While most Turkish investors focus on 1+1 apartments in the $400,000–$500,000 range, the luxury segment is also seeing remarkable activity. Ustaoğlu shared a headline-making detail: "In 2024, one of Dubai's most expensive penthouses was purchased by a Turkish investor for $130 million."