Turkish Billionaire Buys World’s Most Expensive Home as Overseas Property Boom Continues

A Turkish billionaire has made headlines by purchasing a luxury home in Dubai for an astonishing $130 million—reportedly the most expensive residential real estate transaction in the world to date. While the buyer’s identity hasn’t been made public, sources confirmed that the individual is a Turkish citizen, marking a historic moment for Turkey in the world of high-end real estate.

Turks Now Spending More Abroad Than Foreigners Spend in Turkey

This headline-grabbing deal reflects a bigger shift that’s been building for years: Turkish citizens are now investing more in property abroad than foreigners are investing in Turkish real estate. In the first four months of 2025 alone, $793 million flowed out of Turkey for international property purchases, while only $555 million came in from foreign buyers purchasing homes in Turkey.

From Modest Investment to Multi-Billion Dollar Outflow

The rise in overseas property buying by Turks has been nothing short of dramatic. In 2020, Turkish buyers spent just $213 million on international real estate. That figure grew to $628 million by 2022, then skyrocketed in 2023 to $1.78 billion—a 185% increase in just one year. And in 2024, the trend continued with another 21% jump, pushing the total to $2.2 billion.

Marketing Push and Changing Priorities

This boom isn’t happening by accident. In recent years, there’s been a surge in international real estate marketing targeting Turkish buyers. At the same time, foreign interest in the Turkish real estate market has started to decline. With these two forces at play, more and more wealthy Turks are looking beyond their borders to invest in real estate, from Europe to the Gulf.

Turkey Becomes a Net Real Estate Investor

For the first time, Turkey has become a net real estate investor abroad. That means Turks are buying more real estate overseas than foreigners are buying in Turkey—not just monthly, but over the past year. As of April 2025, Turkish citizens had spent $2.296 billion on property abroad in the previous 12 months, while only $2.129 billion came in from foreign buyers.

A New Role in Global Real Estate

The record-breaking Dubai mansion sale is symbolic of a larger transformation. Turkish buyers are now significant players in the global property market. With rising investment power, shifting economic priorities, and a growing appetite for international living, they’re changing the map of who owns what—and where.