Foreign Investors – After the renewed arrangement of housing sales to foreigners in 2018, sales increased in this area. Acquisition of Turkish citizenship is important in the housing purchases bought by foreign investors who continue with an upward acceleration.
The Republic of Turkey began to give citizenship to foreigners who invest in Turkey without any minimum residency requirement with recent changes in legislation. According to actual data; Turkish citizens who are living in Turkey, pay on average 225,000 TL (29,000 USD) in the housing purchase. Foreign investors who are are buying housing from Turkey, pay 875.000 TL (111,000 USD) on average.
How many houses were sold to foreign investors?
Foreigners who have purchased real estate can acquire Turkish citizenship if they meet certain conditions with the regulation made for foreigners. In this sense, since 2016, more than 9.000 foreign investors have been buying housing in Turkey and they have acquired Turkish citizenship. In 2019, Istanbul ranked first with 20,857 houses, and Antalya ranked second with 8,951 houses in housing sales to foreigners. Antalya was followed by Ankara with 2.539 house sales and it was followed by Bursa with 2.213 house sales.
How to acquire Turkish Citizenship by purchasing a house?
Foreign Investors – Foreigners can acquire Turkish Citizenship easily with housing investment if they meet certain conditions specified in the relevant laws. Foreigners who purchase housing of at least 250,000 USD, provided that it is not sold for threȩ years, can exceptionally acquire Turkish citizenship with the latest amendment made in 2018.
How Much do Foreign Investors Pay When Buying a Housing?
In determining that the purchased house is worth 250,000 USD, the relevant consultancy firms must be granted Real Estate Appraisal Authority by the Capital Markets Board. If you are a foreign citizen, you should contact us for a home valuation report for citizenship or your home purchase.