In Turkey, by buying a property, you can get an annual residence in this country. You can also extend this stay until the property is in your name. In the past years, you could get residence in this country by buying a property for 75,000 dollars in big cities and 50,000 dollars in small cities. But the amount of investment to get real estate in Türkiye has changed. Stay with Sun & Sands civil and immigration services company to review these changes.
Real estate in Türkiye reached 200,000 dollars
From October 16, 2023, the rules for obtaining residence by purchasing property in Turkey were changed. Before this date, you could buy a property worth 75,000 dollars in big cities and 50,000 dollars in small cities to get an annual residence in this country. As of October 16, 2023, this amount has changed to $200,000. The minimum investment required to obtain annual residence in Turkey through property purchase has increased from $75,000 in big cities and $50,000 in small cities to $200,000 across all regions. This investment must be recorded on the property deed. This amount must be recorded on the property deed. Otherwise, the applicant cannot receive Turkish residence.
Residential residence in prohibited areas
Prohibited areas or red areas in Turkey for obtaining residence still exist. There are still certain prohibited or red areas in Turkey where the government does not issue residency through property purchase. But by buying a property worth 400,000 dollars, you can buy a property in any region and get Turkish citizenship. But if you intend to get residence in this country, be sure to pay attention to the location of the property before buying the property. The price of the property is more than 200,000 dollars and the property is registered.
Important points of real estate in Türkiye
According to the new rules and the change in the price of real estate in Turkey, there are some important points that we will explain to you:
- Those who bought their property before October 16, 2023 can receive their residence for one time.
- After October 16, 2023, an expertise sheet or the real value of the property is no longer required. The amount written on the document, which is more than 200,000 dollars, is enough to obtain residence.
- If you purchased the property before October 16, and your deed is issued after this date, the property must be worth more than $200,000 for you to be eligible for Turkish residence; otherwise, you will not be entitled to stay. So that you can get Turkish residence. Otherwise, you will not be entitled to stay.
- Properties worth more than $200,000 should not be located in prohibited areas. In the prohibited areas, Turkish residence is not issued under any circumstances.
- More details about these rules have not yet been published in any official gazette or on the main accommodation website. More details may be issued in this regard. If more details are issued, we will definitely inform you through new content.
final word
Considering the changes in obtaining real estate residence in Turkey, if you intend to buy property and obtain Turkish residence, be sure to consult experienced consultants and experts in this field. The experts at Sun & Sands Civil and Immigration Services Company, with years of experience in Turkey, are ready to answer all your questions. You can contact our experts through the communication channels at the bottom of this page. Also, follow us on Instagram for the latest real estate news in Turkey and Northern Cyprus.
