Last Tuesday, at a meeting of the Turkish Cabinet of Ministers, it was decided to almost double the cost of real estate, which is acquired to obtain Turkish citizenship, up to 400 thousand dollars.
As you know, real estate in Türkiye is popular with foreigners, as the country is very attractive in terms of price, quality, utilities, and climate. In 2021, about 22% of foreigners who invested in real estate in Türkiye did so to obtain a passport. This jump in interest in investments in the country is associated with a significant depreciation of the lira, which explains the increased interest of foreigners. Previously, the cost of acquiring real estate with similar purposes was 250 thousand dollars.
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