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Iran's official warns against buying foreign property to invest

Business Materials 2 April 2020 15:51 (UTC +04:00)
Iran's official warns against buying foreign property to invest

TEHRAN, Iran, April. 2

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Those who bought property in the Gulf states, Turkey, Georgia and even Europe and the US to invest have to know that investing in Iranian property was much more benefits, Chairman of Real Estate Union Hesam Oghbaie said.

"There are no reliable statistics on the amount of foreign property purchased by Iranians,” Hesam Oghbaie said, Trend reports citing ILNA.

“Iranians's investments in foreign real estate over the past two years was very high and equaled to the amount in the previous 10 years,” he said.

Oghbaie added that Turkey is at the top of the list of the countries where Iranian citiznes are buying property.

"A number of people are seeking to migrate, but most of those who bought the foreign property were investing in those countries," the chairman said referring to the reasons for buying foreign property by Iranians.

He noted that those who bought property with the purpose of investing in Gulf countries, Turkey, Georgia, the US and European countries shall know that the profit of investing in Iranian property is higher than in all these countries.

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