Review of the Türkiye’s latest residence rules , the $200,000 property purchase law in 2024

Due to the recent changes related to one of the Türkiye’s latest residence rules and the $200,000 law for property purchase, you must now invest at least $200,000 in order to obtain residency through the purchase of property. This increase from the previous $75,000 has different effects on the applicants’ decisions. Of course, one should not forget that the most important issue when immigrating or buying a property is to check the applicant’s conditions and goals. The $200,000 rule for buying a property is reviewed in this article for you. It is possible, but you should note that the most important point is your conditions and goals for buying property in Turkey.

From February 2, 2023, the rules of tourist residence in Turkey have changed and it is more difficult to obtain this type of residence and the cost of living and accommodation has increased. These changes can be challenging for expats who are looking for an economic option to stay in Turkey.

Türkiye’s latest residence rules , the $200,000 property purchase law in 2024

Türkiye’s latest residence rules , the $200,000 property purchase law

One of the most important changes is the increase of the minimum amount required to buy a property in order to obtain Turkish residence. Before, it was enough to buy a property worth $75,000 in big cities like Istanbul, Ankara, and Izmir, but now this amount has increased to $200,000.
With this decision, Turkey has taken a more selective approach to immigrants and foreigners who decide to live in this country. In this way, the Turkish government is looking for people and families who choose this country for life with capital or special expertise, and if we look at this matter realistically, the decision has been made completely right.

In this way, the Turkish government will prevent illegal work and the entry of people who, by coming to this country, will face a heavy burden and pressure on themselves and their families in addition to the responsibilities of the Turkish government.

Türkiye’s latest residence rules

One of the latest Turkish residency laws is the $200,000 property purchase law. Since February 2, 2023, the tourist residency laws in Turkey have changed and it has become more difficult to obtain this type of residency. These changes can be challenging for expats who are looking for an economic option with capital under 100,000 dollars to stay in Turkey.

The $200,000 rule for buying property.

One of the most important changes is the increase of the minimum amount required to buy a property in order to obtain Turkish residence. Before, it was enough to buy a property worth $75,000 in big cities like Istanbul, Ankara, and Izmir, but now this amount has increased to $200,000.

Advantages and disadvantages of the $200,000 purchase law

Advantages:

Residence guarantee: Buying a property with this amount is a guarantee to obtain Turkish residence.

Safe investment: Turkish real estate market is growing and buying property can be a safe investment.

The possibility of obtaining citizenship
Possibility of long-term stay and freedom of movement in Türkiye.

Access to banking services and the possibility of buying property without the need for a visa.

The possibility of obtaining Turkish citizenship after 5 years with retention.

Raising the cultural and financial level of immigrants to Türkiye

Real estate market control, which of course will be temporary due to the increase in costs and taxes.

Preventing the entry of immigrants who do not have strategic and financial benefits for the country.

Disadvantages:

Increase in costs: The increase in the amount required to buy property has increased the cost of immigration.
Restrictions for families
Regional restrictions, some regions are prohibited for foreigners to buy property.

This article is only part of the information needed to fully understand one of Türkiye’s latest residence rules , the $200,000 property purchase law and its effects on immigrants. For more information and expert advice, it is recommended to contact experienced immigration consultants. We are at your side in Tehran (Yusuf Abad), Alanya and Istanbul offices to provide free expert advice and service. In this way, by examining your conditions and goals, the best way and decision will be chosen.