Turkey has increased its citizenship limit to $400000
- According to an official Turkish newspaper, the new limit for obtaining Turkish citizenship will go into effect on June 12, 2022. From September 2018 to June 12, 2022, the amount for Turkish citizenship will be $400.000 instead of $250.000. Four years after the Turkish citizenship law began with a $ 250.000 real estate investment, there have been a lot of changes. Among them are construction materials, which have gone up significantly since the Corona epidemic started, and the problems it caused, like increased demand, supply chain problems, and shipping costs.
- Moreover, the continued and increased demand for new real estate in Turkey, particularly Istanbul, has been accompanied by issues related to global inflation and the weak purchasing power of the dollar compared to many other currencies around the world, including the Turkish lira.
The process of obtaining Turkish citizenship
Despite all these factors, real estate investment has proven to be an effective strategy in Turkey over the past four years. It is reasonable to assume that at least 90% of the properties purchased between 2018 and 2021 made a profit, not less than 50% in some cases where the owners received excellent investment advice and saw a 200% return on investment.
Since the available property in 2018 was valued at $250,000, we anticipated that the required investment and citizenship increase would take effect in 2022. Yet, it will need $ 400.000 to achieve the same level in 2022. Besides the Turkish real estate market, this regulation will affect many markets worldwide and most areas that have been negatively impacted by inflation and the epidemic.