Turkish citizinship by real estate investment

The Turkish official newspaper reports that the application of the new limit set forth in the law governing the acquisition of Turkish citizenship will begin on June 12, 2022. As a result, the amount necessary after this date will be $ 400.000 instead of $ 250.000, which represents the current limit necessary during the period from September 2018 through June 12, 2022.

Many changes have taken place over the past four years since the start of the Turkish citizenship law through real estate investments totaling $ 250.000, including the prices of construction materials, which have increased significantly since the start of the Corona epidemic and the problems associated with it from increased demand, supply chain problems, and noticeably higher shipping costs, including the continuation and increase in demand for new real estate in Turkey, considering issues with worldwide inflation (the United States' April 2022 inflation rate of 8.3% was one of the highest since 1980) and the weak purchasing power of the dollar in relation to several different currencies across the world, especially the Turkish lira, were adversely impacted by that.

The most crucial of these factors, however, is that real estate investment in Turkey has demonstrated its effectiveness over the past four years. As a result, we can now say that at least 90% of the homes bought between 2018 and 2021 generated profits, even when measured in dollars. In some cases, owners received sound investment advice that resulted in returns as high as 200%.

And for the aforementioned reasons, it was anticipated that the increase in the threshold for investment and obtaining Turkish citizenship would be implemented in 2022. After all, the real estate that you could purchase for $ 250.000 in 2018 now costs $ 400.000 to acquire in 2022, and this is true not just of the real estate market in Turkey but of the entire world, as well as of the majority of regions that have been negatively impacted by epidemics and inflation.

This new law is fair to investors who made their investments before the amendment's effective date in order to protect the value of those investments. It is also fair to new investors who wish to obtain Turkish citizenship but are limited to investments of up to $ 250.000, giving them a full month to make their choice.

Note: For those wishing to obtain Turkish citizenship by investing in the amount of $ 250.000, a title deed or a contract from a notary public that proves the full ownership of the property must be obtained before entering the date of June 12, 2022, and thus the property is seized or the payment is not completed or the title deed is not obtained or the notary contract means that the law that will apply to them is $ 400.000.

Note: Prior to the implementation of the new law, you can get in touch with our expert team for assistance in making an informed property decision and securing Turkish citizenship for you and your family.