Rumored Increase in Investment Requirements
Recent reports from major Turkish news outlets like T24 suggest a potential increase in the real estate investment minimum for Turkey’s Citizenship by Investment (CBI) program. While the Directorate of Immigration Administration has yet to confirm, the speculated rise from $400,000 to $600,000 could take effect as early as 2024, marking a significant shift in the program’s strategy.
Historical Context of Investment Changes
Since its inception in 2016/2017, Turkey’s CBI program has seen several adjustments in its real estate investment threshold. Initially set at $1 million, the requirement was reduced to $250,000 in 2018, and later increased to $400,000. This potential new change reflects the program’s ongoing evolution in response to market dynamics. Key Gains Immigration remains vigilant in updating clients on these crucial developments.
Impact of External Factors on Property Sales
The same sources report a notable decrease in property sales to foreigners, reaching a three-year low this October. The significant earthquakes earlier this year have been identified as key contributors to this downturn, affecting international interest in Turkey’s real estate market. Understanding these market trends is crucial for prospective investors, and Key Gains Immigration is dedicated to providing comprehensive insights for informed decision-making.