According to the latest regulation of the Turkish Migration Service dated October 16, 2023, the minimum value of real estate for Turkish citizenship will increase from $400,000 to $600,000 from the beginning of 2024. What is the public's reaction? 

The history of the value changes:

  • The bar in the Simplified Turkish Citizenship by Investment program was originally $1,000,000.
  • In September 2018, it was reduced to $250,000.
  • On June 13, 2022, the value was raised to $400,000.
  • From the beginning of 2024, the bar will reach $600,000.

There is still time to save money

Turkish authorities warn about the upcoming increase in the cost of citizenship, but those who apply before December 31 will be lucky: they will be able to take advantage of the previous rate and buy property in Turkey for $400,000. After that date, the cost will increase. 

Reaction of the public and real estate developers

People's opinions are divided about the increase in the price bar. Here are some of the comments:

  • “Investors have become victims of developers: they were promised residence permits but received unfinished houses.” 
  • “The law makes no sense: previously, in reality, they paid 200,000 dollars, and in the tapu, it was prescribed $400,000. Now they will prescribe $600,000. You can have $1,000,000; nothing will change.” 
  • “The citizenship-for-investment program needs to be shut down, and $600,000 is just a joke.”
  • “At least 1 million dollars! And have them live in the country for at least 10 years before citizenship.”
  • “At least 2 million dollars; $600,000 is not enough.”
  • “Long live the real estate developers; long live the real estate developers...”
  • “We should ban sales to foreigners altogether.” 

Recall that just recently another change was adopted: the lower limit of real estate under residence permit for foreigners rose from $75,000 to $200,000, according to the cadastre.