Turkey, the second home for Iranians: push and pull motivations in Turkish housing market
PurposeThis paper examines the main drives of encouraging Iranian investors in the Turkish real estate market, focusing on the interface between push factors and pull factors that drive them abroad.Design/methodology/approachThis paper examines the main drives of encouraging Iranian investors in the...
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| Veröffentlicht in: | Journal of European real estate research 2024-05, Vol.17 (1), p.123-136 |
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| creator | Ghaedrahmati, Safar Rezaei, Ebrahim |
| description | PurposeThis paper examines the main drives of encouraging Iranian investors in the Turkish real estate market, focusing on the interface between push factors and pull factors that drive them abroad.Design/methodology/approachThis paper examines the main drives of encouraging Iranian investors in the Turkish real estate market, focusing on the interface between push factors and pull factors that drive them abroad. For this purpose, the trend of housing price growth in Iran and Turkey was compared. The review of the 11-year trend of rates shows that housing prices in both countries have been continuously rising, and these prices have undoubtedly experienced increasing shocks in Iran. For further analysis, 13 main variables leading to the repulsion of investment in Iran's housing market and 15 variables shaping the attractiveness of investment in Turkey were identified in this sector. Thirty experts subsequently ranked the significant variables based on a closed-end questionnaire using quantitative strategic planning matrix. Examining housing investment elasticity in Turkey also shows that “Turkey's economic stability compared to neighboring countries” and “acquiring Turkish citizenship through real estate investment” are among the most important variables. On the other hand, the pressure variables of housing investment in Iran were “decrease in the value of the Iranian currency in recent years,” “currency price fluctuations” and “severe fluctuations and instability in the Iranian housing market.”FindingsExamining housing investment elasticity in Turkey also shows that “Turkey's economic stability compared to neighboring countries” and “acquiring Turkish citizenship through real estate investment” are among the most important variables. On the other hand, the pressure variables of housing investment in Iran were “decrease in the value of the Iranian currency in recent years,” “currency price fluctuations” and “severe fluctuations and instability in the Iranian housing market.”Originality/valueFrom a theoretical standpoint, foreign investment is in support of Turkey and harmful to Iran because the Turkish government is bolstering investment attractiveness to bring increased capital inflows into this country. Practically speaking, Turkey has aimed to create a rational framework for investors by strengthening and changing its economic system, as well as amending existing constitutions in this domain. Nevertheless, Iran resists any changes in its economic system |
| doi_str_mv | 10.1108/JERER-06-2023-0019 |
| format | Article |
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For this purpose, the trend of housing price growth in Iran and Turkey was compared. The review of the 11-year trend of rates shows that housing prices in both countries have been continuously rising, and these prices have undoubtedly experienced increasing shocks in Iran. For further analysis, 13 main variables leading to the repulsion of investment in Iran's housing market and 15 variables shaping the attractiveness of investment in Turkey were identified in this sector. Thirty experts subsequently ranked the significant variables based on a closed-end questionnaire using quantitative strategic planning matrix. Examining housing investment elasticity in Turkey also shows that “Turkey's economic stability compared to neighboring countries” and “acquiring Turkish citizenship through real estate investment” are among the most important variables. On the other hand, the pressure variables of housing investment in Iran were “decrease in the value of the Iranian currency in recent years,” “currency price fluctuations” and “severe fluctuations and instability in the Iranian housing market.”FindingsExamining housing investment elasticity in Turkey also shows that “Turkey's economic stability compared to neighboring countries” and “acquiring Turkish citizenship through real estate investment” are among the most important variables. On the other hand, the pressure variables of housing investment in Iran were “decrease in the value of the Iranian currency in recent years,” “currency price fluctuations” and “severe fluctuations and instability in the Iranian housing market.”Originality/valueFrom a theoretical standpoint, foreign investment is in support of Turkey and harmful to Iran because the Turkish government is bolstering investment attractiveness to bring increased capital inflows into this country. Practically speaking, Turkey has aimed to create a rational framework for investors by strengthening and changing its economic system, as well as amending existing constitutions in this domain. Nevertheless, Iran resists any changes in its economic system and legislation. Therefore, a wide range of attractiveness and repulsion variables has led to the migration of Iranian investors to Turkey. In the present study, such variables are illuminated.</description><identifier>ISSN: 1753-9269</identifier><identifier>EISSN: 1753-9277</identifier><identifier>DOI: 10.1108/JERER-06-2023-0019</identifier><language>eng</language><publisher>Bingley: Emerald Publishing Limited</publisher><subject>Construction costs ; Cost control ; Economic growth ; Foreign investment ; Households ; Housing ; Housing prices ; Income inequality ; Industrialized nations ; International finance ; Investors ; Migration ; Politics ; Real estate ; Variables</subject><ispartof>Journal of European real estate research, 2024-05, Vol.17 (1), p.123-136</ispartof><rights>Emerald Publishing Limited</rights><rights>Emerald Publishing Limited.</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><cites>FETCH-LOGICAL-c268t-a80876c8328e1be80e71eeb172b0d3068283b537a78705fde21414148598abb23</cites><orcidid>0000-0001-5774-7154 ; 0000-0002-6098-2507</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://www.emerald.com/insight/content/doi/10.1108/JERER-06-2023-0019/full/html$$EHTML$$P50$$Gemerald$$H</linktohtml><link.rule.ids>314,776,780,21674,27901,27902,53219</link.rule.ids></links><search><creatorcontrib>Ghaedrahmati, Safar</creatorcontrib><creatorcontrib>Rezaei, Ebrahim</creatorcontrib><title>Turkey, the second home for Iranians: push and pull motivations in Turkish housing market</title><title>Journal of European real estate research</title><description>PurposeThis paper examines the main drives of encouraging Iranian investors in the Turkish real estate market, focusing on the interface between push factors and pull factors that drive them abroad.Design/methodology/approachThis paper examines the main drives of encouraging Iranian investors in the Turkish real estate market, focusing on the interface between push factors and pull factors that drive them abroad. For this purpose, the trend of housing price growth in Iran and Turkey was compared. The review of the 11-year trend of rates shows that housing prices in both countries have been continuously rising, and these prices have undoubtedly experienced increasing shocks in Iran. For further analysis, 13 main variables leading to the repulsion of investment in Iran's housing market and 15 variables shaping the attractiveness of investment in Turkey were identified in this sector. Thirty experts subsequently ranked the significant variables based on a closed-end questionnaire using quantitative strategic planning matrix. Examining housing investment elasticity in Turkey also shows that “Turkey's economic stability compared to neighboring countries” and “acquiring Turkish citizenship through real estate investment” are among the most important variables. On the other hand, the pressure variables of housing investment in Iran were “decrease in the value of the Iranian currency in recent years,” “currency price fluctuations” and “severe fluctuations and instability in the Iranian housing market.”FindingsExamining housing investment elasticity in Turkey also shows that “Turkey's economic stability compared to neighboring countries” and “acquiring Turkish citizenship through real estate investment” are among the most important variables. On the other hand, the pressure variables of housing investment in Iran were “decrease in the value of the Iranian currency in recent years,” “currency price fluctuations” and “severe fluctuations and instability in the Iranian housing market.”Originality/valueFrom a theoretical standpoint, foreign investment is in support of Turkey and harmful to Iran because the Turkish government is bolstering investment attractiveness to bring increased capital inflows into this country. Practically speaking, Turkey has aimed to create a rational framework for investors by strengthening and changing its economic system, as well as amending existing constitutions in this domain. Nevertheless, Iran resists any changes in its economic system and legislation. Therefore, a wide range of attractiveness and repulsion variables has led to the migration of Iranian investors to Turkey. In the present study, such variables are illuminated.</description><subject>Construction costs</subject><subject>Cost control</subject><subject>Economic growth</subject><subject>Foreign investment</subject><subject>Households</subject><subject>Housing</subject><subject>Housing prices</subject><subject>Income inequality</subject><subject>Industrialized nations</subject><subject>International finance</subject><subject>Investors</subject><subject>Migration</subject><subject>Politics</subject><subject>Real estate</subject><subject>Variables</subject><issn>1753-9269</issn><issn>1753-9277</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2024</creationdate><recordtype>article</recordtype><sourceid>BENPR</sourceid><recordid>eNptkEFLxDAQhYMouK7-AU8Br1YnybZJvYmsurIgLOvBU0jbqe26bWrSCvvvTV0RBJnDDLx5b4aPkHMGV4yBun6ar-arCJKIAxcRAEsPyITJWEQpl_Lwd07SY3Li_QYgSWcwm5DX9eDecXdJ-wqpx9y2Ba1sg7S0ji6caWvT-hvaDb6iJmjdsN3Sxvb1p-lr23pat3SMqINe2cHX7RttTIjsT8lRabYez376lLzcz9d3j9Hy-WFxd7uMcp6oPjIKlExyJbhClqEClAwxY5JnUAhIFFcii4U0UkmIywI5m42l4lSZLONiSi72uZ2zHwP6Xm_s4NpwUgc7yDQWLA1bfL-VO-u9w1J3rg6P7jQDPSLU3wg1JHpEqEeEwcT2JmzQmW3xv-cPdvEFcKdyPw</recordid><startdate>20240530</startdate><enddate>20240530</enddate><creator>Ghaedrahmati, Safar</creator><creator>Rezaei, Ebrahim</creator><general>Emerald Publishing Limited</general><general>Emerald Group Publishing Limited</general><scope>AAYXX</scope><scope>CITATION</scope><scope>0U~</scope><scope>1-H</scope><scope>7WY</scope><scope>7WZ</scope><scope>7XB</scope><scope>AFKRA</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>F~G</scope><scope>K6~</scope><scope>L.-</scope><scope>L.0</scope><scope>M0C</scope><scope>PQBIZ</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PYYUZ</scope><scope>Q9U</scope><orcidid>https://orcid.org/0000-0001-5774-7154</orcidid><orcidid>https://orcid.org/0000-0002-6098-2507</orcidid></search><sort><creationdate>20240530</creationdate><title>Turkey, the second home for Iranians: push and pull motivations in Turkish housing market</title><author>Ghaedrahmati, Safar ; 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For this purpose, the trend of housing price growth in Iran and Turkey was compared. The review of the 11-year trend of rates shows that housing prices in both countries have been continuously rising, and these prices have undoubtedly experienced increasing shocks in Iran. For further analysis, 13 main variables leading to the repulsion of investment in Iran's housing market and 15 variables shaping the attractiveness of investment in Turkey were identified in this sector. Thirty experts subsequently ranked the significant variables based on a closed-end questionnaire using quantitative strategic planning matrix. Examining housing investment elasticity in Turkey also shows that “Turkey's economic stability compared to neighboring countries” and “acquiring Turkish citizenship through real estate investment” are among the most important variables. On the other hand, the pressure variables of housing investment in Iran were “decrease in the value of the Iranian currency in recent years,” “currency price fluctuations” and “severe fluctuations and instability in the Iranian housing market.”FindingsExamining housing investment elasticity in Turkey also shows that “Turkey's economic stability compared to neighboring countries” and “acquiring Turkish citizenship through real estate investment” are among the most important variables. On the other hand, the pressure variables of housing investment in Iran were “decrease in the value of the Iranian currency in recent years,” “currency price fluctuations” and “severe fluctuations and instability in the Iranian housing market.”Originality/valueFrom a theoretical standpoint, foreign investment is in support of Turkey and harmful to Iran because the Turkish government is bolstering investment attractiveness to bring increased capital inflows into this country. 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| subjects | Construction costs Cost control Economic growth Foreign investment Households Housing Housing prices Income inequality Industrialized nations International finance Investors Migration Politics Real estate Variables |
| title | Turkey, the second home for Iranians: push and pull motivations in Turkish housing market |
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