What is the reason for raising the minimum for obtaining Turkish citizenship from $250.000 to $400.000?
According to reliable, unofficial sources, it was announced on April 13, 2022, that the minimum required to obtain Turkish citizenship through the purchase of real estate will become $400.000, after it was $250.000 previously.
Although the decision has not been circulated until today, it is only a matter of time, and we believe that a temporary deadline will be granted to those wishing to obtain Turkish citizenship according to the old law and allow them to apply for Turkish citizenship when buying real estate worth at least $250.000.
It is worth noting that the law on obtaining Turkish citizenship by owning real estate began in 2012 and the required value at that time was one million dollars, and the fundamental amendment to the law occurred in September 2018, when it was reduced from one million dollars to a quarter of the value of $250.000.
Today, with the continued growth of the real estate market and the effectiveness of investment in Turkey, we have noticed that the Turkish real estate market has moved to a new stage of interest by local and foreign investors. The prices of building materials in the world on the other hand, but as long as the rental yield of ready-made properties and the return on investment of properties under construction rose appropriately to increase real estate prices, the demand remained high and the interest in the Turkish real estate market increased.
Raising the limit for obtaining Turkish citizenship through real estate investment to $400.000 clearly indicates the confidence of the Turkish government in the capacity of the Turkish real estate market to achieve a successful investment. The Turkish citizenship program is not paying $250.000 to obtain citizenship as it is in some European countries, but it is a gift for real estate investors when they invest this amount, and this means that the basis is the investment, and the citizenship is a free grant only.
Today, with the justified rise in real estate prices, the amount of $250.000 has become unable to buy investment properties with wide options as it was in the past, and therefore today you need approximately $400.000 to obtain wide options.
With this amount, you can buy an apartment in the center of Istanbul in a modern tower with a very high rental income and a wonderful view.
Also, with a sum of $400.000, it is possible to obtain two large investment apartments in the center of Istanbul that achieve high returns.
Those who love to get multiple apartments within this amount can get 4 apartments on the outskirts of Istanbul.
In conclusion, we can say that as long as the rental yield rises in proportion to the rise in real estate prices, and as long as the past years have achieved a certain profit (even for the dollar account) for most investors who obtained Turkish citizenship, this means that the Turkish real estate market is developing in a healthy and sound manner.
If you are a real estate investor, even if the circular is issued and the amount required to obtain Turkish citizenship is $400.000, this does not mean at all that your real estate investment will not be profitable.
But if you are a limited investor with a budget of $250.000 now and want to obtain Turkish citizenship, we advise you to take a quick decision before issuing the circular and officially changing the law.
All you must do is contact us and our advisory team will introduce you to the Turkish real estate market quickly and adequately to enable you to make your decision in a sound and fast manner.