The epic story of the Turkish elections has come to an end. What will change in the real estate market? Recently, or rather, for a month, its participants have been quite confident about one thing: regardless of who is elected new in power, the program for obtaining citizenship by investment is expected to change. But at the moment it functions under the old conditions.
Türkiye offers the following immigration options for property buyers:
1. Tourist residence permit (TRP): Does not give the right to obtain citizenship, is issued on the basis of a lease. It allows you to stay in Turkey for a whole year, move freely abroad, open bank accounts, etc.
2. Residence permit with the possibility of naturalization: the purchase of real estate with a cadastral value of $75,000 in large cities (from $50,000 in small towns) you can get a residence permit and after 5 years be eligible for citizenship.
3. Obtaining citizenship by purchasing a property valued at $400,000 or more: Purchasing a property with a cadastral value above $400,000 allows you to start the process of obtaining Turkish citizenship. The process takes from 6 months to 1 year. The property can be rented out and sold after three years, while keeping the passports. There are no area restrictions.
4. It is planned to increase the threshold in the passport program.
Program participants are not required to live in the purchased housing, so it can be used for commercial purposes. This is an important circumstance for anyone who wants to solve 2 problems at the same time.
When choosing an investment object, consider:
1. Characteristics,
2. Infrastructure,
3. Location,
4. Characteristics of neighboring projects!
This will help to predict the growth in property prices during construction and after commissioning, as well as determine the rent, profitability and the possibility of resale after 3 years.
Acquisition of an apartment at the construction stage brings up to 30% annual profit. On the resale of ready-made apartments in successful projects, you can double the investment.
