Turkish investors have been increasingly turning to Dubai for overseas real estate purchases, as the volume of Turkish investments in the city surged from $400 million to $3 billion over the past two years, according to a sector representative.
Woven Investment co-founder Burak Ustaoglu pointed out that this interest has been driven by high rental returns and favorable tax regulations in the UAE’s property market.
Record-breaking year for Dubai property market
Commenting on the drivers of investor interest, Ustaoglu said, “Dubai offers a short return period, zero taxes, and strong rental yields, which are the main factors attracting investors.”
He noted that 2024 was a record-setting year for Dubai’s real estate sector, stating, “The year 2024 was a record-breaking period for the Dubai property market, with a total value of $142.1 billion.”
Dubai offers fast returns and zero-tax environment
Ustaoglu also listed the key advantages that set Dubai apart for Turkish investors: “Among Dubai’s advantages are its tax-free economic system, ease of obtaining mortgages, golden visa benefits, lower ownership costs compared to other countries and cities,and steadily increasing rental income.”
This sharp rise also reflects a broader uptick in outbound real estate activity of Turkish real estate investors.
In 2024, Türkiye-based individuals invested $2.51 billion in overseas property, marking a 20.5% increase from the previous year.
Source: turkiyetoday