Turkey is expected to create a more secure environment in foreign property purchases
With the law published on September 19, 2018, foreigners are required to purchase 250 thousand dollars worth of immovable property to earn Turkish citizenship. A minimum purchase price of $ 1 million was reduced to $ 250,000 in the new regulation. Real estate valuation companies will report on the purchase and sale.
The real estate valuation companies licensed by the Capital Markets Board (SPK) will approve whether the real estate is worth more than 250 thousand dollars. Accuracy and reliability are expected to increase in real estate acquisition for foreigners with new regulations.