Turkish citizenship: important changes
From January 1, 2023, Turkey will apply the new rules when acquiring real estate for the purpose of obtaining citizenship.
This year, Russians have bought every fifth residential property in Turkey. On average, citizens of the Russian Federation purchased 34 apartments in the country every day. This is due to changes in the global geopolitical climate – and attractive conditions for obtaining a residence permit and citizenship.
Turkey this year issued a residence permit for the purchase of real estate in the amount of $ 75,000. The citizenship of the country was more expensive, and the conditions for obtaining it were more complicated.
The set of updated rules for obtaining citizenship is as follows:
- the minimum threshold for the cost of real estate will be $400,000;
- for each of the objects of the acquired real estate, only one person is appointed by the owner. It is now impossible to apply for citizenship when buying a share;
- the same real estate object can be a justification for obtaining citizenship only once;
- when buying a second home, it should be borne in mind that the object must be continuously owned by the same Turkish citizen for at least three years;
- the cadastral value of housing on the secondary market should correspond to the market valuation.
Conditions have changed in accordance with the high number of citizenship requests. However, it is unlikely that this will negatively affect the flow of those wishing to buy real estate here. The Turkish housing market is diverse, wide and full of attractive opportunities.
ARAVANA Multifamily Office specialists, together with partners, are ready to choose objects for investment or relocation. Our catalog contains unique offers for different budgets and goals.
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