As of 19.09.2018, individuals who purchase real estate for the price of $250.000 or more will be granted citizenship of the Republic of Turkey with a commitment of 3 years period to not to sell. Sales with this regard must be carried out by the bank transfer between buyer and seller accounts.
Individuals can buy these real estates, by complying with the legal restrictions, with the purpose of using them as a residence or workplace. However, foreign nationals’ purchases shall not exceed the total are of 30 hectares in Turkey, even if the real estates are in different cities.
It recently became mandatory for the foreign buyers to obtain a Valuation Report (Experts’ Report) in order to purchase real estate/s. These reports are prepared by the Valuation Companies authorized by Capital Markets Board of Turkey (SPK) and Banking Regulation and Supervision Agency(BDDK).