Buying Citizenship: A Boon to District-Level House Prices in Istanbul
نویسندگان
چکیده
Citizenship by investment (CBI) programs have recently garnered significant academic and media attention. Turkey introduced such a program in 2017 that offers citizenship exchange for residential property. Through the program, thousands of foreigners, mainly from Middle East Asia, purchased houses, particularly Istanbul. Foreigners’ share total houses sold Istanbul almost sextupled exceeded 10% sales. This study estimates short-run impact relatively wealthy foreigners on property prices investing to buy Turkish passport. It finds CBI positively impacts house 2% districts, which are likely be favored most immigrant investors.
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ژورنال
عنوان ژورنال: Housing Policy Debate
سال: 2022
ISSN: ['1051-1482', '2152-050X']
DOI: https://doi.org/10.1080/10511482.2021.2013283