Foreigners are looking forward to buy homes in Turkey must now pay the price to become a Turkish citizen, more reports said Wednesday, in a move This comes with higher sales to foreign buyers, especially Russians and Ukrainians.
The amount that foreigners have to pay for a property And commit to save it for At least three years to obtain a Turkish passport is about to increase to 400,000 local dollars (5.84 million Turkish liras) media reported, citing a decision Discussed at the Cabinet meeting Tuesday.
Ankara has adopted citizenship-for-homes a plan in 2017. year Later cut the minimum price to $250,000, from $1 million, to attract foreign buyers.
The revised regulation is due to be announced in Official Gazette soonthe reports said.
About 7000 foreigners have obtained citizenship via home Purchases between 2017 and 2020, the government She said last year.
In addition to real The estate, those qualified for Nationality includes foreigners who Determined to have made At least $500,000 to invest in Country.
He. She also Includes foreigners intending to employ at least 50 peoplethese who I deposited at least $500,000 in Turkish banks and kept it there for At least three years, these who Buy and keep for Three years at least $500,000 in government debtor these who You have made a venture capital or property finance purchase of At least $500,000.
Foreigner home Sales – mainly to Iranians, Iraqis, Russians and Afghans – hit a record 58,576 units in 2021, according to official data, a 43.5% year-over-year more. previous annual record It was set in 2019 with 45,483 units sold to foreign buyers.
sales climbed 54.9% in February year-over-year to 4,591 properties, according to official data. Iranians are on top list They bought 711 homes, followed by the Iraqis with 633 and the Russians with 509.
The real Property market Recently mobilized with the arrival of Russians and Ukrainians fleeing the war to join their resident relatives in Turkey, while others chose for rent or real Buying real estate.
Russia launched invasion of Ukraine on February 24, which led to stifling Western sanctions.
January and February house Sales jumped 55.5% on The data showed on an annual basis to 8,843.
Sales accelerated as depreciation in Turkish lira made Turkish language property more Attractive to foreign buyers, with The authorities that are chasing new economic policy of Low interest rates to boost credit, exports and investments, saying it will help Country weather economic inflation.
to support The drive central Turkey bank had brought down pointer policy rate by 500 points Since September to 14%.
