When evaluating Citizenship by Investment (CBI) property, resale dynamics often matter more than the initial purchase price. Across the Caribbean, Turkey, and Egypt, real estate tied to citizenship programs operates under very different market structures directly shaping liquidity, pricing, and exit potential.
Caribbean: Citizenship First, Real Estate Second
In Caribbean CBI markets such as Saint Kitts & Nevis, Antigua & Barbuda, Dominica, Grenada, and Saint Lucia, buyers are typically limited to future citizenship applicants rather than the broader property market.
Holding periods of five to seven years, developer-controlled resale channels, and competition from newly launched inventory at program minimum prices restrict exit flexibility. As a result, resale values often sit close to or even below the minimum investment threshold, especially for preferred shares.
While titled properties in strong tourism areas may appreciate, the overall structure favors developers more than individual investors. In practice, Caribbean CBI property primarily functions as a citizenship product rather than a conventional real estate investment.
Turkey: A Real Market with Real Liquidity
Turkey presents a fundamentally different picture. Its large, transparent property market records around 1.7 million annual transactions, with foreign buyers representing only a small share.
CBI-linked purchases behave like standard real estate investments driven by location, demand, and macroeconomic conditions rather than program mechanics. Although properties used for citizenship cannot be recycled for future applicants, this has minimal impact due to the depth of the overall market.
Currency volatility and inflation, however, play a bigger role in determining actual returns than the citizenship framework itself.
Egypt: Domestic Demand Drives Everything
In Egypt, strong local demand and large housing supply mean developers don’t rely on citizenship buyers to move inventory. Real estate transactions follow normal market fundamentals, with prices influenced by location, development quality, and timing.
Citizenship eligibility adds little structural impact to resale. Investors can often buy and sell freely, but foreign returns depend heavily on exchange-rate movements rather than the program itself.
The Bottom Line
CBI real estate is not one uniform asset class.
-
Caribbean projects operate as citizenship vehicles with limited liquidity.
-
Turkey and Egypt offer genuine property markets where resale follows standard supply-and-demand dynamics.
Ultimately, the key question isn’t which market performs better, it’s whether you’re buying real estate or simply a pathway to citizenship. Understanding that distinction determines both your risk and your exit strategy.