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Real Estate in Istanbul Turkey - Reha Medin Global

Minister of Economy Suggests That Turkish Property Buyers Should be Given Citizenship

Minister of Economy Suggests That Turkish Property Buyers Should be Given Citizenship

Turkey’s Minister of Economy, Nihat Zeybekçi made a suggestion for giving citizenship to foreigners who buy a significant amount of Turkish property
In his speech, Zeybekçi mentioned that the foreign property purchaser in Turkey adds up to 4 – 5 billion dollars each year and it is possible to get this number up to 10 billion dollars. To achieve this Turkey can offer citizenship rights to foreigners who buy real estate in Turkey.
Zeybekçi also stated that these types of implementations are common in other countries as well, in Turkey we can set a base limit that starts from 500'000 US dollars.
In last May, sales of properties in Turkey reached record level with sale of 1,982 real estate, which is 21.3 percent higher than the previous year. Given the fact, that Turkish real estate always increase in value. Zeybekçi suggests that Turkey should utilize this opportunity to turn it into a contribution for our economy.

 


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