Buying property in Türkiye is a bridge to a bright future!
In 2018 and with the decision of Mr. Erdogan (Recep Tayyip Erdoğan), the president of Turkey regarding the ease of investment and obtaining Turkish citizenship through the purchase of property in Turkey, for foreigners, the conditions of construction and attracting capital in Turkey took a new direction. took place and big builders started building big and small projects all over Turkey along with government incentives. The use of famous international and Turkish architects, constructions in accordance with the principles of modern urban planning, the use of quality and high-quality materials, and facilitating the purchase for foreign investors, made Turkey the main destination for property buyers much earlier than it should have been. to be
As you know, Turkey is a Eurasian country, part of which is located in the European continent and the other part is located in the Asian continent. Due to its proximity to modern and advanced European countries and its good connections with most countries, Turkey has been able to put itself on the path of growth and development. The presence of international first-rate schools and universities, dynamic and export-based economy, public transportation system, modern and earthquake-resistant constructions, beautiful nature, and most importantly, ancient and high culture are among the things that cause More property buyers have been encouraged to Turkey.
In this article you will read:
New citizenship and property purchase laws in Türkiye in 2023
Every year, at the beginning of the new year, the Turkish government notifies the relevant institutions of new laws and amendments in various fields. In this regard, the rules for buying property in Turkey and obtaining citizenship in 2023 have some changes that were recently announced.
3 new citizenship law in 2023
The new laws of the Turkish government and immigration office are as follows:
1- In the new law, it is not possible to buy a property jointly to obtain Turkish passport and citizenship. In the past, if the property was worth 800,000 dollars or more and 2 families bought the property jointly, both buyers could apply for citizenship for themselves and their families.
2- Citizenship is issued only 1 time for each property, if previously it was possible to obtain citizenship again for the new buyer under the condition that the seller is Turkish.
3- Builders and real estate sales companies in Turkey cannot use foreign partners even if they receive Turkish citizenship.
In general, it can be said that the process of acquiring citizenship and buying property in the new year has not faced fundamental and fundamental changes, but knowledge of these laws is necessary and necessary for foreign investors in Turkey.
Amendment of citizenship laws at the beginning of March 2023
According to the new directive of the Turkish government, foreign investors, provided they have Turkish citizenship, can participate as partners in Turkish projects, etc., and they will have no problem granting citizenship to their buyers of the units they have built.
Buying a house in the Asian area of Istanbul or the European area
Istanbul is divided into 2 parts, Asian and European, and usually most of the immigrants to Istanbul tend to live in the European part of Istanbul due to the conditions of access and proximity to the historical context and tourism.
The Asian part of Istanbul is an indigenous region:
The Asian part of Istanbul, which is located in the Asian continent, is the place where Turkish citizens live and is a little far from the tourist attractions of Istanbul, but it has a uniform and cleaner texture, and recently the desire to buy property in this area has increased, and many Iranians in the area Kartal, Kadikoy are taking action to buy property.
European part of Istanbul; Popular with immigrants
The European part of Istanbul is more interested in foreigners and has a lot of prosperity for buying and selling property and renting. Taksim in Beyoglu, Fatih, Maslak and Sarir are located in the European part of Istanbul.
Most of Istanbul’s tourist attractions are located in the European part, and for this reason, many tourists prefer to stay in European areas. In addition, due to the excellent accessibility and good facilities that European regions have, the preference of some property buyers in Istanbul is European parts.
Buying a house in Türkiye and getting a residence:
If you are looking to buy a house in Turkey, but your capital is less than 400 thousand US dollars, you should know that you cannot get citizenship and you can only get Turkish residence. In order to obtain Turkish residence by buying a property, it does not matter if the property you buy is 400 thousand dollars, but you should know that the minimum amount of buying a property in Turkey should be 75 thousand dollars. By purchasing a property worth 75 thousand dollars, you can apply for residency for yourself, your spouse and children under the age of 18.
Buying a house in Türkiye and obtaining Turkish citizenship
If your goal of immigrating to Turkey is to obtain citizenship or a Turkish passport, you should know that this will be possible only by purchasing a property worth $400,000 or more. Of course, you can also apply for citizenship by investing $500,000 in Turkish banks and stock exchanges.
Of course, maybe investing in Türkiye’s housing sector is a more logical thing. Because you can become a citizen of Turkey by buying a house worth 400 thousand dollars in Turkey, and considering the rate of inflation in Turkey, investing in real estate is more justified.
You will be shocked by the statistics of buying houses in Türkiye!!
Get to know the best cities to buy a house in Türkiye!
Until the end of April 2023, according to the announcement made by the General Director of the Turkish Cadastre, Mr. Mehmet Zeki Adli, 85,652 properties were sold to foreigners in Turkey, Istanbul with 16.3% and 13,000 And 944 houses have the largest share after Istanbul, Ankara with 10,000 houses and Izmir with 4,960 houses have had the highest share of property sales with a share of 11.7% and 5.8% respectively.
The graph above shows the property sales report in different months, which has always been accompanied by ups and downs and shows the popularity of Turkey among foreign investors.
For more information, you can go to the migration site Pin Tati refer to