Real estate in Turkey is a secure and stable investment. Real estate investments were able to maintain value against money even when the national currency lost value, real wages fell, and interest rates were volatile. When looking at real estate studies about Turkey, it was stated that the country’s high population growth was the most important variable affecting housing demand.
Within the context of real estate investment, it is important to note that the trend of rapid urbanization prevalent in major cities of population growth plays a critical role in increasing the size of urban renewal projects and house renovation operations. It is estimated that approximately 6.7 million units will be demolished and rebuilt in the nationwide over the next 20 years, which is equivalent to an average annual value of $ 334,000. There will be a requirement of approximately 44 billion Turkish lira (15 billion US dollars) to fund urban renewal projects per year. There will be no single Turkish investor in this investment, as the Investment Law in Turkey has opened the door to citizens of 183 countries.
As a result, foreign investment provides a profitable opportunity to contribute to this architectural activity. And the intervention of a number of Arab countries, particularly the Gulf countries, within the permitted states for their citizens to purchase real estate in Turkey.
There is another field that is constantly being renewed, which is hotels, where there are more than 165 hotel chains in Turkey, with international investors owning more than 15% of those hotels, and there is still a gap between supply and demand, with supply failing to meet the needs of Turkey’s growing tourism.
There are a number of factors about Turkey, beginning with its location that connects continents and has become a major energy corridor, and the possibilities of Turkey available with an ambitious vision for the year 2023, which includes the goal of access to the national output of 2 trillion dollars and has major projects, including urban renewal, as well as commercial and industrial production projects, which makes them a great opportunity for investors looking for an economic horizon that is stable.
Most people believe that purchasing real estate is the best, simplest, and quickest way to invest in Turkey and obtain Turkish citizenship. Previously, the rules were significantly different and more stringent. However, the amount required for purchase has been reduced, and the rules have paved the way. In other words, the minimum amount of investment in Turkey is related in this way.
- Turkish citizenship will be possible with a property investment of only $250,000 USD; however, this route will only grant Turkish citizenship to the spouse and their children under the age of 18.
- One of the conditions for obtaining a Turkish passport through property investment is that you cannot sell the property for up to three years.
- In fact, by investing in certain projects, you can start with $ 150,000 and pay the rest over time.
- It should be noted that the minimum capital required for a stay in Turkey is $60,000 USD. Passports and citizenship, on the other hand, are not issued in this manner.
- If you do not want to purchase a home, you can obtain citizenship by investing in real estate companies. It is important to note that the minimum investment amount in real estate companies will increase to $ 500,000.