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Exploring Dubai's Real Estate Wonderland
Welcome to the dazzling world of Dubai's real estate market! Whether you're dreaming of a luxury apartment overlooking the marina or a cozy villa in the suburbs, Dubai's property scene is as diverse as it is dynamic. This guide isn't just a bunch of numbers and laws; it's your personal roadmap to understanding and navigating this exciting market.
Can I Really Own a Piece of Dubai?
- Foreigners Welcome: Let’s start with the good news – yes, you, as a foreigner, can own property in Dubai! Imagine having your own space in iconic areas like Palm Jumeirah or Downtown Dubai.
- Full Ownership, No Strings Attached: And guess what? You get to own 100% of your property. No need for a local partner – it's all yours!
The Buzz About Dubai’s Property Market
- Why Everyone's Talking: Apartment prices went up by nearly 9% last year. That's the biggest jump since 2014! Clearly, people are loving Dubai real estate.
- Big Piece of the Economic Pie: Property isn't just buildings and land in Dubai; it's a thriving sector that's booming like never before.
Show Me the Money – Investment Returns
- What’s in It for You?: How does an average ROI of 5-9% sound? That's what you're looking at in Dubai.
- Where to Invest for the Best Returns: If you're looking for the best bang for your buck, places like Dubai Sports City and Silicon Oasis are your go-to spots.
What’s Next for Dubai's Property Scene?
- Luxury in the Limelight: The crème de la crème of Dubai’s property market is its luxury segment. If you've got an eye for the finer things, this is where you should be looking.
- Rentals Rising: Planning to rent out your property? You might be looking at a sweet 3% increase in rents next year.
Your Guide to the Best Neighbourhoods
- Fair and Square Deals: Worried about overpaying? Dubai's property prices are considered fair-valued. That's a relief!
- Top Spots for Property Hunters: From the bustling streets of Business Bay to the serene sands of Palm Jumeirah, we’ve got the inside scoop on where to buy.
Nitty-Gritty of Buying Property
- Freehold Freedom: Yes, in many neighbourhoods, you can own your property outright. Hello, freedom!
- Understanding the Costs: Let's talk about what it costs to buy property here – there are some fees, but we'll break them down for you:
In Dubai, the costs of purchasing property include a 4% Transfer Fee and a Registration Fee. The Transfer Fee, which is typically 4% of the property's value, is usually split equally between the buyer and the seller. This rate may vary in different emirates, with Abu Dhabi having a Transfer Fee of 2%.
So, there you have it – a whirlwind tour of Dubai's property market. Whether you're an investor with an eye on returns or a dreamer looking to call Dubai home, there's something here for everyone.
Palestinian Property Ownership in Turkey 2023: A Comprehensive Guide
Many Palestinians are keen to understand the possibilities and conditions of owning properties in Turkey. This article provides an in-depth look at Palestinian property ownership in Turkey for 2023, considering the latest laws and updates.
What’s New in Palestinian Property Ownership in Turkey?
- Palestinians are entitled to own properties in Turkey under specific conditions, as per Turkish legislation.
- These conditions include holding a Palestinian Authority passport or other specified passports.
- The property area allowed for ownership can extend up to 30 hectares.
Available Property Types for Ownership:
- Residential apartments.
- Luxury villas.
- Commercial shops.
- Offices and warehouses.
Necessary Conditions for Property Ownership:
- Approval from the Turkish Ministry of Interior.
- A valid residence permit.
Required Documents for Ownership:
- Tax number.
- Valid passport.
- Residence permit copy.
- Personal photos.
- Payment receipt for property fees.
Benefits of Property Ownership in Turkey for Palestinians:
- Tax exemptions.
- Eligibility for Turkish citizenship with a property purchase of $400,000.
- Opportunity to obtain a real estate residence.
- Opportunities to establish various investment projects.
- Option to purchase properties on installment.
Real Estate Residence and Turkish Citizenship:
- Purchasing a property worth $200,000 qualifies for a short-term real estate residence.
- Purchasing a property worth $400,000 qualifies for Turkish citizenship.
Baytii Real Estate Consultations: For more information and consultations on property ownership in Turkey for Palestinians, connect with the Baytii team for comprehensive support and up-to-date information.
Discover the renovation projects in Türkiye
Renovation projects in Turkey, particularly in the city of Istanbul, are developmental priorities that draw significant attention due to the city’s strategic location and its civilizational and historical importance. Istanbul extends over vast areas of distinctive land, with the Bosphorus being one of the city's most prominent geographical features, making the areas around it a magnet for tourists and a center for premium services and housing.
Recently, Istanbul has experienced a notable expansion beyond the borders of the Bosphorus surroundings, where Ataturk Airport was previously situated, creating a disparity in neighbourhood quality, ranging from aristocratic to less organized communities. Over time, these latter areas have become disorganized and a haven for gangs and lawbreakers.
Istanbul is seismically active, which necessitates that concerned authorities take decisive preventative measures. The most important of these is the construction of residential infrastructure capable of withstanding earthquakes, which is significantly lacking in older buildings.
In response to these challenges, the Turkish government has adopted an ambitious plan to rehabilitate these areas, relying on partnerships with investors and real estate developers under government supervision and incentives. The plan includes:
1- Allowing the real estate developer to transform a small building into a residential tower with more than ten floors.
2- Exempting the developer from paying for the land, with the responsibility of covering demolition and reconstruction costs only.
3- Providing new apartments within the tower for the original residents, with the possibility of selling additional housing units for profit.
4- Exempting the real estate developer from government taxes.
5- Exempting investors in reconstruction projects from taxes related to registration and value-added tax.
To protect the rights of original residents and investors, the Turkish government has set out a series of conditions and standards that real estate developers must adhere to in order to obtain the necessary permits for reconstruction projects. These conditions include:
- The real estate developer must have completed residential projects of similar or larger scale.
- Full reconstruction costs must be deposited into a state-guaranteed account, allowing the developer to withdraw funds gradually with each successfully completed construction phase.
- Provision of alternative housing for the original residents during construction until the delivery of new apartments.
These projects represent some of the most important investment opportunities in Turkey, with clear results as seen in the transformation of the Kadiköy district from a slum into one of the most beautiful areas in Istanbul and the world in a relatively short time.
These projects underscore the vital role that reconstruction can play in improving the quality of urban and social life, reinforcing Istanbul's position as a modern city that embraces heritage while keeping pace with progress.
New Regulations to Streamline Property Prices in Turkey
- Turkey is moving towards implementing new measures starting from 1st November 2023, aiming to address inflated prices in the real estate and used car markets.
- The recent legal amendments stipulate that properties and used cars must be marketed solely through the actual personal details of advertisers. This initiative seeks to counteract fictitious advertisements causing price fluctuations.
- The advertiser must either be the owner of the property or vehicle being offered for sale, or possess an official power of attorney from the owner to market and complete the sales process.
- Non-compliance will result in financial penalties ranging from 10,000 Turkish Lira up to 100,000 Turkish Lira.
Turkey Raises Property Value Threshold for Residency to $200,000
If you've been eyeing Turkey as your next property investment destination, there's a pivotal update you shouldn't miss. The Turkish government has rolled out some changes that directly affect foreign real estate investors.
Then vs. Now:
Previously, if you were seeking a residency through property investment in one of Turkey's bustling urban centers, a property valued at $75,000 or more would do the trick. For smaller towns, the threshold stood at $50,000. Fast-forward to now, and that entry bar has been raised. You'll need to show a property purchase of at least $200,000.
The Fine Print:
Here’s where attention to detail matters. Under the new guidelines, the property's deed (known as the 'Tapu' in Turkish) must clearly state this $200,000 value. If the deed value is in Turkish Lira, it should be equivalent to the required amount in dollars as of the property’s registration date.
Already Own Property in Turkey?
For those who made their move before this change was announced, breathe easy. Your investment stands firm, and these changes won't backtrack to affect you.
What About Smaller Towns?
The jury's still out on this one. It’s unclear whether this $200,000 baseline will blanket all of Turkey or if a discounted rate might still apply in smaller towns.
Turkey's real estate game is evolving, signaling a drive to attract premium investors. Whether you're a seasoned property mogul or a first-timer looking to make a mark, staying informed is key. Keep an eye out for more insights and updates on the Turkish property landscape right here.
Exploring Real Estate Horizons: Turkey vs. Dubai
Globetrotting real estate enthusiasts, have you ever been torn between the historical charm of Turkey and the ultramodern allure of Dubai? As an investor, the pull of international real estate is potent, with Turkey and the UAE emerging as strong contenders. Let's embark on a journey, unraveling the tapestry of opportunities each landscape offers, touching upon Turkey's mesmerizing blend of past and present, and Dubai's meteoric rise as a desert phoenix.
Diving into Turkey's Real Estate World
The Alluring Pros:
- Turkey has been flexing its economic muscles with a steady 5% GDP growth rate over the last decade. It's a signal of burgeoning real estate opportunities.
- The under-35s form over half of Turkey's dynamic population. It's a haven for businesses eyeing a fresh, motivated workforce.
Rolling Out the Red Carpet for Investors:
- Beyond kebabs and bazaars, Turkey entices foreign investors with tax breaks and straightforward business procedures.
A Bridge Between Continents:
- Turkey straddles Europe and Asia, presenting a rich mosaic of cultural and business opportunities.
Affordability in Real Estate:
- Think high value without burning a hole in your pocket. Turkey’s property market is a treasure trove for savvy investors.
Where History Greets Modernity:
- Few places weave nature, ancient landmarks, and urban flair like Turkey. Investing here is like owning a piece of time itself.
Points for Reflection:
Shifting Political Sands:
- Turkey has seen its share of political roller-coasters, something investors should be attuned to.
- Keeping an eye on Turkey's inflation and currency trends is crucial for making informed decisions.
The Language of Business:
- While Turkish melodies are enchanting, the language might present hurdles in business parlance.
Dubai: The Desert's Crown Jewel
An Oasis of Stability:
- Dubai's unwavering political calm complements its pulsating economic rhythm.
Open for Business:
- Low taxes, minimal regulations, and a can-do attitude make Dubai a business haven.
Infrastructure that Dazzles:
- World-class doesn’t do justice. From flying taxis to sprawling ports, Dubai is futuristic.
- Dubai has morphed into an economic chameleon, diversifying beyond oil and stamping its mark on the global stage.
A Global Melting Pot:
- With skyscrapers kissing the clouds and businesses from around the globe, Dubai is truly cosmopolitan.
A Few Sand Dunes to Navigate:
The Price of Luxury:
- Living the Dubai dream can be heavy on the wallet, given its opulent lifestyle.
Limited Investment Avenues:
- Despite its appeal, certain sectors remain under government purview, offering limited play for investors.
Heatwaves and High-rises:
- While Dubai's skyline is cool, its desert climate might require some acclimatizing.
- A rich tapestry of traditions, Dubai's cultural norms can be a learning curve for the uninitiated.
Conclusion: Whether you're drawn to Turkey's real estate melodies or are captivated by Dubai's architectural symphony, both landscapes resonate with potential. It's a tussle between Turkey's timeless allure and Dubai's contemporary charm. While your heart might pull you in both directions, your investment compass should align with your aspirations and vision. Here's to finding homes beyond borders!
A Special Arabic-speaking Department Directly Under the Turkish Presidency to Facilitate Gulf Investments
Ahmed Barak Dağlıoğlu, the Director of Investment at the Turkish Presidential Office, announced in an interview with the Qatari newspaper "Al-Sharq" the establishment of a new Arabic-speaking department serving Gulf investors, directly affiliated with the Turkish Presidency. Dağlıoğlu clarified that this department aims to prioritize Gulf investors by providing them advantages in Turkey, in addition to presenting Arabic media content by a fluent Arabic-speaking team. He further highlighted that Qatar leads the list of Gulf countries investing in Turkey, followed by the UAE, Kuwait, Oman, and Bahrain. In a related context, it's noteworthy to mention that Turkish President Recep Tayyip Erdoğan visited Gulf countries in July 2023, which included Saudi Arabia, Qatar, and the UAE, leading to the signing of several agreements and memorandums of understanding to enhance trade and investment cooperation between Turkey and the Gulf states.
Can foreigners own properties in Turkey?
According to Turkish laws and regulations, Turkey is one of the countries that allows foreigners to own properties. This includes a variety of properties, such as apartments, villas, lands, and commercial real estate.
Regarding the nationalities restricted from owning properties in Turkey, they include Syria, North Korea, Cuba, Armenia, and Cyprus. This restriction is due to various reasons, ranging from reciprocity to international decisions and sanctions.
However, there are some ways for foreigners restricted from property ownership in Turkey to still acquire properties. One of these ways is by establishing a Turkish company and registering the properties under the company's name. Additionally, they can obtain Turkish citizenship through various methods, including marriage, legal residence, or direct bank investment.
50% increase on the property purchase tax in Turkey
In a pivotal development that carries substantial implications for property investors and potential buyers, the Turkish government has recently enforced a significant augmentation in title deed fees. This critical change, made public through a notice in the Turkish Official Newspaper, manifests a 50% increase, indicating a crucial policy shift in the dynamics of Turkey's real estate sector.
As stipulated by Law No. 492, published in the Official Newspaper, fixed duty amounts have seen a 50% surge. To break it down, the title deed fee, known locally as 'tapu harcı', has undergone an upward adjustment, moving from 4% to a revised 6%.
This critical policy shift stands to reorient the landscape of the property market in Turkey significantly. With the increase in the 'tapu harcı', the initial expenditures linked to purchasing real estate in the country have risen correspondingly. This move, in turn, could influence the decision-making process of both local and international investors, as the cost of entry into the Turkish real estate market has been heightened.
The tax, calculated on the assessed value of the property at the time of sale, constitutes a significant portion of the total costs incurred by the buyer. This fee is typically shared equally between the buyer and the seller, unless a different arrangement has been agreed upon. Therefore, the sharp increase in title deed fees will directly affect investors' purchasing power, potentially leading to a deceleration in market transactions in the short term.
However, investors should adopt a long-term outlook regarding this new development. While the change might initially steepen the investment curve, the dynamic Turkish property market continues to promise appealing long-term returns. The combination of Turkey's strategic geographical positioning, robust infrastructure, and a resilient economy continue to render it an attractive location for real estate investment. Additionally, a robust regulatory framework and transparent transaction process provide further assurances to investors.
Furthermore, the updated title deed fees align more closely with global averages, contributing to the normalization and standardization of the Turkish real estate sector in line with international markets.
As the market adapts to this new development, potential investors are encouraged to review their investment strategies accordingly. With careful planning and due diligence, this policy alteration can be successfully navigated, ensuring the Turkish property market remains an enticing opportunity for rewarding prospects.
This significant development underscores the importance of having a knowledgeable and trusted advisor to guide you through these changing times. Whether you're a seasoned investor or considering your first property purchase, it's crucial to seek expert advice and guidance to successfully navigate the evolving landscape of the Turkish real estate market.
Opposition Leader: We will prevent foreigners from buying real estate
Opposition Leader kemal kılıçdaroğlu: After 6 months (after winning the elections), we will prevent foreigners from buying real estate for 5 years, and we will not stop this ban until the price balance returns.
Real estate sales in Turkey are rising despite the global decline
Real estate sales in Turkey achieved a 31% growth during the first half of this year, despite its decline in most countries of the world.
Used house sales in the United States fell 7% and in Canada they fell 19% over the same time period.
In Britain and the Netherlands, the rate of real estate sales decreased by 23% during the first half of the year.
But the situation in Turkey is completely different, and the Turkish real estate market is going through a golden phase and has achieved an increase in the number of real estate sales by 31% during the first half of 2022
Construction costs rise 106.6% in Turkey
According to statistics related to the construction cost index issued by the Turkish Statistics Authority, the construction cost index in Turkey during the fourth month of this year witnessed an increase of 6.2% compared to its value in the third month of this year.
Whereas, the increase in the construction cost index in Turkey amounted to 106.6% compared to its value in the fourth month of last year 2021.
Turkish construction companies are among the top 250 global companies.
Real estate is one of the significant sectors for the Turkish economy's growth, with a 30% contribution to the economy. The prosperity of real estate in Turkey hasn't only been at the local level but has also reached a global level. Turkish construction companies were among the top 250 world construction companies in 2021.
The Turkish real estate companies outperform globally.
According to Engineering News (ENR), 40 Turkish construction companies ranked among the top 250 global construction companies in 2021. Seven of these companies were among the world's top 100 companies.
Thus, Turkey ranked third after the United States and China in terms of the number of companies. In 2020, Turkey ranked second in the best construction companies' list worldwide, with 44 companies. Moreover, Turkey's share in the global construction market is about 4.4%.
The rapid recovery of the real estate in Turkey from the consequences of the epidemic
The real estate projects by Turkish construction companies have increased to 11,093 projects in 131 countries in 2021. Also, they were worth $29.3 billion in 2021, up from $15.2 billion in 2020. This doubling in the projects' value is strong evidence of the rapid recovery in the real estate in Turkey from the consequences of the epidemic.
The projects made by Turkish construction companies worldwide are infrastructure projects such as roads, airports, and dams, besides residential real estate projects, hospitals, hotels, and power stations in Russia, the Middle East, and Africa, as well as in Europe and South Asia.
Turkish construction companies' projects worldwide over the last decade
In the last decade, the period between 2010 and 2019, Turkish real estate projects in foreign countries has been increasing every year, as:
In 2010, the Turkish contractors' projects were worth 23.8 billion US dollars.
In 2012, the projects were worth 31.6 billion dollars.
In 2013, the projects were worth about 31.3 billion dollars.
After 2013, the global real estate sector decreased by 15% due to some developments on the international scene, like lower prices for energy and sanctions against the Russian Federation. Thus, the value of the projects came to:
$26.6 billion in 2014.
$15 billion in 2016.
$22.8 billion in 2018.
$19.5 billion in 2019.
$15.1 billion in 2020 despite the pandemic and the global economic downturn.
The strength of the real estate in Turkey is due to Turkey's location between the continents of Asia and Europe. Besides, the Turkish construction companies provide services by international standards and enjoy credibility and high customer satisfaction. Turkish construction companies also have extensive international experience in establishing projects worldwide.
Despite the downturn in the economy of many countries due to the Corona pandemic, real estate in Turkey has experienced considerable superiority and recovery in recent years. It has become a leading sector not only in Turkey but also worldwide.
At Baytii Real Estate, we can recommend you the best real estate projects in Turkey and reliable construction companies for successful real estate investment in Turkey.
American Investments in Turkey
Turkey has always been a destination for those who want to enjoy civilization, culture, and nature. Also, because of its growing economy, Turkey has become a destination for foreign investors, and the United States is one of the ten most investing countries in it.
Why are Americans investing in Turkey?
The real estate investment in Turkey by foreigners reached 189 thousand properties between 2015 and 2020. Over the last three years, the United States has been among the twenty most nationalities seeking real estate investment in Turkey.
According to the Turkish Statistical Institute, the number of apartments bought by foreign investors from the United States was 658 apartments in 2019, and 623 apartments in 2020. Plus, it reached 1014 apartments between January to September 2021. Then, why are Americans seeking investment in Turkey?
One of the reasons to invest in Turkey is the facilities provided by the Turkish government to encourage real estate investment in its lands, like the Turkish real estate law. According to Turkish real estate law number 2644 article 35, foreign individuals and companies are allowed to buy and own properties in Turkey. Another facility could be the VAT exemption for those who have their first investment in Turkey.
Indicators about promising future for foreign investment in Turkey
Turkey is always offering new chances to attract foreign investors, as it is one of the most welcoming countries to new investments in its lands. This could be shown in the positive impact on its economy. Since 2003, Turkey has attracted 165 billion dollar foreign direct investments.
Meanwhile, the real estate investment market in Turkey is growing rapidly and full of promises. Last year (2020), the real estate market in Turkey attracted a 4.4 billion dollar investment equivalent to 57% of the total inflow of foreign direct investment in Turkey which was 7.8 billion dollars. This could be because of the facilities Turkey put to encourage foreign investors like:
Getting Turkish nationality: when you own and invest in real property in Turkey, you will not only get good profits ( more than 20% after 3 years of buying the property), but also you will be able to get Turkish nationality if your property's price was 250,000 dollar at least.
You can get resident permission easily: The Turkish government gives resident permission easily to those who own property on its lands, and their families also ( wife and children under 18 years old). The resident permission will allow the investors, besides living in Turkey, to export furniture and vehicles and establish companies in Turkey.
These indicators promise a good and safe real estate investment future.
Turkish lira fluctuations
During the last five years, the Turkish lira value has changed a lot. On 22 November 2021, the US dollar exceeded 11.23 Turkish lira. This may make investors ask whether real estate investment is still profitable in Turkey with lira inflation or not. In this article, we tried to answer the most common questions which may matter to real estate investors in Turkey.
How the inflation of the Turkish lira can affect the real estate sector?
The US dollar per Turkish Lira reached 8.32 in September 2021, while in the same month last year it reached 7.377. Despite this inflation of the Turkish lira, the real estate sales by foreign investors have increased by 25.8% in comparison with the same month last year. Does that mean Lira fluctuations have a positive effect on the foreign investor?
We can say that in addition to the facilities and incentives made by the Turkish government to encourage foreign investment, the fluctuations in the Turkish lira have given a lot of advantages to the foreign investor in terms of purchasing power. For example, the properties and investment costs for foreign investors have become cheaper than before, which represents an attractive factor to investment.
To show you what I mean, the Turkish lira to US dollar has changed many times in November, as, on the first of November 2021, the US dollar was about 9.59 Turkish lira and on 20 November it exceeded 11.23.
Thus, when buying an apartment in Turkey worth one million Turkish lira, at the exchange rate of the dollar 9.59 it will be worth about 104.275 dollars. However, when the lira drops to 11.23, the value of the apartment in dollars will reach about 89,047, saving the investor about $15,000.
Therefore, whoever wants to invest in properties in Turkey, has the opportunity now to take advantage of the Turkish lira's depreciation before real estate prices change.
In the long run; Will the investor get more profits?
To answer this question, we will take a look at the Turkish house price index which reached an increase of 33.4% in nominal terms in August 2021 in a comparison with the previous year. That can be evidence of the strength of the real estate sector in Turkey, as the economic crises didn't affect it.
Thus, To make a better profit from your properties, you probably need to wait for several years as investing in real estate is a long-term investment.
Additionally, the Turkish economy is one of the 19 strongest economies in the world and it has the ability to recover quickly from its crises. In short, the profit of real estate investment depends on waiting. The more you wait the more profits you gain.
What if the Turkish Lira improved, what can happen to your investment?
Don't worry, real estate is a growing sector. Therefore, if the price of a property increases, it won't fall again, which can protect you from the loss in your investment.
Baytii tips to take advantage of Turkish lira inflation:
Every investment has risks, and to reduce the risks as possible, investors should search for the best chances in any investment. Therefore, we, in Baytii Real Estate, offer you the best tips to make a great profit from your real estate investment during the lira fluctuations.
1- As we said before, the foreign investor can take advantage of the new exchange rate and buy a property to save costs before the rise in the real estate prices happens as the Turkish lira changes.
2- The foreign investor can buy the property in the Turkish lira, pay a deposit and divide the rest in installments over 24 months to guarantee a greater profit.
For instance, if the installment of the property in Turkey was about 10,000 Turkish lira, 1000 in dollars (when the exchange rate per dollar was 10 Turkish lira) and the following month the exchange rate became 11 Turkish lira per dollar, the monthly installment would be worth 909$. In this case, the investor is saving more than 90$ per month (990 Turkish lira).
3- It is better to consult a professional and reliable real estate company before buying a property. Our company, Baytii for real estate, can provide you with the best real estate consultants who can recommend to you the best construction companies and the best places which can increase your property’s value.
4- Finally, if you want to provide your property for rent, the value of rent is increasing with the dollar.
How to obtain Turkish citizenship by property investment?
According to the new Turkish government decisions announced in April 2022, investors can get Turkish citizenship by buying property in Turkey worth 400,000 USD at least. It is a fantastic opportunity for property investors in Turkey to gain excellent profits and citizenship in a unique country like Turkey. This post will explain how to get Turkish citizenship by property investment and the requirements.
The New Regulation
The Turkish government decided to increase the minimum property value for Turkish citizenship in 2022. It has been raised from 250,000 USD to 400,000 USD on the condition of not selling the property; within three years after purchase.
Requirements for getting Turkish citizenship by property investment?
Before making a real estate investment, you should be aware of the requirements to obtain Turkish citizenship by property.
- The property should be worth at least 400,000 USD.
- The buyer’s nationality should not be one of those prohibited from owning property in Turkey. Therefore, investors from (Suriye, Greek Cyprus, Armenia, North Korea, and Cuba) can’t buy property in Turkey due to old historical disputes.
- Not to sell the property for 3 years after buying it.
- Issuing a property assessment from a real estate assessment company accredited by the Turkish government.
- Registering the property in Turkey’s General Directorate of Land Registry and Cadastre (Tabu).
- Paying the property’s payment through a bank transfer to Turkey.
- The real estate seller must be Turkish.
How to get Turkish citizenship by property investment?
The following are the steps you should take to acquire Turkish citizenship by property:
- Buy one or more properties worth at least 400,000 USD. You can find the best options on the Baytii Real Estate website.
- Get an assessment of the property through a company accredited by the Turkish Financial Markets Authority. Then, obtain a certified report.
- Submit a request to the General Directorate of Land Registry (Tabu) for a three-year reservation for the property.
- Obtain an investment residence permit from Immigration Management. Then, get the application approved by the Ministry of Environment and Urbanism.
- Apply for Turkish citizenship in the General Directorate of Population and Citizenship Affairs (Nüfüs).
Why should you acquire Turkish citizenship?
The Turkish passport is the 41st strongest in the world, according to the Passport Index. You will be able to enter 115 countries without a visa. That includes 64 visa-free countries and 46 visa-on-arrival countries.
It is easy to get a visa to the United States. Investors from America’s investment treaty countries, including Turkey, can get an E-2 visa to enter the US. This visa is intended for entrepreneurs and investors..
Living in a culturally diverse environment where modern European civilization blends with the authenticity of Ottoman history.
Finally, if you want to buy a property that meets Turkish citizenship requirements, you can contact our real estate consultants at Baytii Real Estate. Our consultants will recommend you the best options.