Since the first quarter of 2020, the Turkish property market has grown exponentially. Recent amendments in Turkish National Law, which occurred on May 12, 2022 ,increased the minnimum amount for obtaining the Turkish citizenship by real estate investment from 250,000$ to 400,000$.
As outlined in the amendment, foreigners who buy a minimum of $400,000 USD worth of property in Turkey can obtain citizenship with their spouse, and any children under the age of 18. However, one stipulation in the amendment requires that property purchased not be sold for three years. The Turkish government is making property ownership attractive to foreigners, in an effort to boost the Turkish property market.
Amid Turkey's increasing need for foreign capital inflow, the above referred legal amendments have been approved, which has resulted in a very positive response by local authorities and executive bodies to Turkey's investments. Certainly, this new approach will eliminate the procedural and bureaucratic obstacles to foreign investors, as well as enable faster and more accessible transactions.
According to the Turkish Statistics Institute's data, the proportion of property sales to foreign investors is constantly increasing annually. This data clearly shows a direct correlation between the current demand to get citizenship through the new investment laws with the dramatic rise in real estate sales in the country.
Real Estate Investment in Turkey
Real estate investments positively affect Turkey's ever-developing and growing economy. Every year, many foreign investors make real estate investments in Turkey.
There are many advantages of investing in real estate in Turkey. In addition, real estate investment also has very high returns. It is possible to become a Turkish citizenship by investment in real estate in Turkey which is one of the most beautiful countries in the world experiencing all four seasons.
Turkey is a paradise with its underground and aboveground natural beauties. Real estate investment is at a high level in many cities in Turkey, especially in the cities of Istanbul, Ankara, Izmir, Antalya and Bursa. With its 7 regions Turkey impresses visitors and investors with its climate, natural beauties, world heritage and cultural structure. Turkey is highly developed compared to other countries with its urbanization structure.
Turkey is a country where many people want to live with its developing technological structure and job opportunities. Turkey; It has many educational institutions and universities that provide cultural, visionary and high quality education.
Turkey is developing more and more every day. In many projects, they are the only or first projects in the world. It was the first in the world with many projects such as Istanbul Airport, Yavuz Sultan Selim Bridge, Osmangazi Bridge and 1915 Çanakkale Bridge.
With each new project, the value of Turkey and the cities within it increases. It is very valuable to invest in real estate in the cities and regions where these projects are located. Regions with high return on investment.
In 2022, many new projects started to operate and various new projects were signed. You can have Turkish citizenship by investment in 2022.
It should not be forgotten that as we have mentioned before, foreign investors who purchase a property worth at least 400,000 USD in Turkey, together with their spouses and children under the age of 18, will have the opportunity to acquire Turkish citizenship by real estate.