The Turkish government has raised the minimum value of the property that must be bought in order to obtain Turkish citizenship from 250 thousand dollars to 400 thousand dollars,
the Turkish government discussed the matter at a meeting of the presidential cabinet chaired by President Recep Tayyip Erdoğan.
The meeting decided to “raise the value of the property that must be bought to obtain Turkish citizenship from 250 thousand to 400 thousand dollars, on condition that it is not sold for 3 years”.
The amendment will come into force once it is published in the Official Gazette in the coming days.
The decision came after yesterday's meeting of the presidential cabinet, attended by Turkish President Recep Tayyip Erdoğan in the Turkish capital Ankara.
It is worth recalling that at the beginning of this year Turkey announced changes to the law on obtaining Turkish citizenship by exceptional routes (such as investing in Turkey or buying property in Turkey).
The citizenship-for-property-investment programme was first run in Turkey in 2017.
In 2021 a total of 58,576 homes were sold to foreigners
According to the “Anadolu” agency, 97,587 homes were sold in Turkey during last February.
Istanbul had the highest share of home sales, at 18752 and 19.2 per cent. It was followed by the provinces of Ankara and Izmir.