Turkey Citizenship by Investment: A Golden Opportunity in Real Estate

In December 2018, Turkey significantly reduced the minimum investment requirement for its Citizenship by Investment Programme from $1 million to just $250,000 for real estate investments. This change aimed to attract international investors to help address the country’s surplus of housing, as over 2 million homes were waiting to be sold at that time.

Meeting Growing Housing Demands

Each year, Turkey requires approximately 750,000 new houses due to its young and growing population. Over the past two years, there has been a surge in demand for real estate, with both international investors and local buyers rapidly absorbing available stock. This has created a unique opportunity for those considering investing in Turkey’s property market.

Fast and Affordable Citizenship

When compared to citizenship programs in other European countries, Turkey’s option stands out as both fast and cost-effective. International investors are increasingly looking to diversify their assets and reduce risks associated with their home countries. Obtaining a second passport through real estate investment in Turkey is an attractive option.

Currency Dynamics and Real Estate Pricing

The current exchange rate is around 7 Turkish Lira (TL) to 1 US Dollar (USD), which is approximately 20% higher than last year. In Turkey, construction costs align closely with the USD, which influences real estate prices. However, due to the previous oversupply, not many new projects have been launched recently.

Developers have been waiting for the market to absorb existing stock before planning new projects. Many are now hesitant to initiate new developments due to rising prices and fluctuating demand.

A Unique Market Opportunity

As a real estate agent, I have observed that the market currently offers some of the last available ready-to-move-in properties at competitive prices. These properties are available at last year’s prices, which presents a unique buying opportunity given the current favorable USD/TL exchange rate.

I believe that 2020 represents the final opportunity to purchase properties at these attractive price points before the market adjusts further.

Conclusion

In conclusion, the Turkey Citizenship by Investment Programme provides a compelling option for international investors. The combination of reduced investment thresholds, a growing demand for housing, and competitive pricing makes now an ideal time to explore the Turkish real estate market.

I hope this blog is helpful! Please feel free to comment below and join the discussion.