Buying Citizenship: A Boon to District-Level House Prices in Istanbul

Lokman Gunduz; Ismail H. Genc; Ahmet Faruk Aysan

doi:10.1080/10511482.2021.2013283

Buying Citizenship: A Boon to District-Level House Prices in Istanbul

Lokman Gunduz, Ismail H. Genc, Ahmet Faruk Aysan^*

^*Bu çalışma için yazışmadan sorumlu yazar

Araştırma sonucu: Dergiye katkı › Makale › bilirkişi

7 Atıf (Scopus)

Özet

Citizenship by investment (CBI) programs have recently garnered significant academic and media attention. Turkey introduced such a program in 2017 that offers citizenship in exchange for investment in residential property. Through the program, thousands of foreigners, mainly from the Middle East and Asia, have purchased houses, particularly in Istanbul. Foreigners’ share of total houses sold in Istanbul almost sextupled and exceeded 10% of total sales. This study estimates the short-run impact of relatively wealthy foreigners on the residential property prices in Istanbul investing to buy a Turkish passport. It finds that the Turkish CBI program positively impacts house prices by 2% in the districts, which are likely to be favored most by immigrant investors.

Orijinal dil	İngilizce
Sayfa (başlangıç-bitiş)	697-712
Sayfa sayısı	16
Dergi	Housing Policy Debate
Hacim	32
Basın numarası	4-5
DOI'lar	https://doi.org/10.1080/10511482.2021.2013283
Yayın durumu	Yayınlandı - 2022
Harici olarak yayınlandı	Evet

Bibliyografik not

Publisher Copyright:
© 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.

BM SKH

Bu sonuç, aşağıdaki Sürdürülebilir Kalkınma Hedefine/Hedeflerine katkıda bulunur

Belgeye Erişim

10.1080/10511482.2021.2013283

Diğer Dosyalar ve Linkler

Link to publication in Scopus

Alıntı Yap

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title = "Buying Citizenship: A Boon to District-Level House Prices in Istanbul",

abstract = "Citizenship by investment (CBI) programs have recently garnered significant academic and media attention. Turkey introduced such a program in 2017 that offers citizenship in exchange for investment in residential property. Through the program, thousands of foreigners, mainly from the Middle East and Asia, have purchased houses, particularly in Istanbul. Foreigners{\textquoteright} share of total houses sold in Istanbul almost sextupled and exceeded 10% of total sales. This study estimates the short-run impact of relatively wealthy foreigners on the residential property prices in Istanbul investing to buy a Turkish passport. It finds that the Turkish CBI program positively impacts house prices by 2% in the districts, which are likely to be favored most by immigrant investors.",

keywords = "citizenship by investment program, house prices, immigration, Istanbul",

author = "Lokman Gunduz and Genc, {Ismail H.} and Aysan, {Ahmet Faruk}",

note = "Publisher Copyright: {\textcopyright} 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.",

year = "2022",

doi = "10.1080/10511482.2021.2013283",

language = "English",

volume = "32",

pages = "697--712",

journal = "Housing Policy Debate",

issn = "1051-1482",

publisher = "Taylor and Francis Ltd.",

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TY - JOUR

T1 - Buying Citizenship

T2 - A Boon to District-Level House Prices in Istanbul

AU - Gunduz, Lokman

AU - Genc, Ismail H.

AU - Aysan, Ahmet Faruk

PY - 2022

Y1 - 2022

N2 - Citizenship by investment (CBI) programs have recently garnered significant academic and media attention. Turkey introduced such a program in 2017 that offers citizenship in exchange for investment in residential property. Through the program, thousands of foreigners, mainly from the Middle East and Asia, have purchased houses, particularly in Istanbul. Foreigners’ share of total houses sold in Istanbul almost sextupled and exceeded 10% of total sales. This study estimates the short-run impact of relatively wealthy foreigners on the residential property prices in Istanbul investing to buy a Turkish passport. It finds that the Turkish CBI program positively impacts house prices by 2% in the districts, which are likely to be favored most by immigrant investors.

AB - Citizenship by investment (CBI) programs have recently garnered significant academic and media attention. Turkey introduced such a program in 2017 that offers citizenship in exchange for investment in residential property. Through the program, thousands of foreigners, mainly from the Middle East and Asia, have purchased houses, particularly in Istanbul. Foreigners’ share of total houses sold in Istanbul almost sextupled and exceeded 10% of total sales. This study estimates the short-run impact of relatively wealthy foreigners on the residential property prices in Istanbul investing to buy a Turkish passport. It finds that the Turkish CBI program positively impacts house prices by 2% in the districts, which are likely to be favored most by immigrant investors.

KW - citizenship by investment program

KW - house prices

KW - immigration

KW - Istanbul

UR - http://www.scopus.com/inward/record.url?scp=85125425745&partnerID=8YFLogxK

U2 - 10.1080/10511482.2021.2013283

DO - 10.1080/10511482.2021.2013283

M3 - Article

AN - SCOPUS:85125425745

SN - 1051-1482

VL - 32

SP - 697

EP - 712

JO - Housing Policy Debate

JF - Housing Policy Debate

IS - 4-5

ER -

Buying Citizenship: A Boon to District-Level House Prices in Istanbul

Özet

Bibliyografik not

BM SKH

Belgeye Erişim

Diğer Dosyalar ve Linkler

Parmak izi

Alıntı Yap