DO NOT BUY A HOUSE UNDER $75000!

admin·13/08/2022·Featured, Investment in Turkey, Real Estate, Residence Permit·1 min·

Foreigners will no longer be able to obtain a residence […]

Foreigners will no longer be able to obtain a residence permit with a rental agreement in Turkey

A new application was introduced regarding residence permit applications through the purchase of real estate to the Ministry of Interior Migration Management. With the new circular, foreigners will not be able to apply for a residence permit with a rental contract. In addition, as of April 27, 2022, a minimum price limit has been determined for the property to be purchased for residence permit.

As a result of the new regulation, the sale price of the real estate to be used in residence permit applications must be at least $75,000 in cities with metropolitan status and $50,000 in cities without metropolitan status. At the same time, the value determined in the real estate appraisal report must also comply with this condition.

For this reason, in metropolitan cities such as Trabzon, Istanbul and Ankara, where foreign investors show great interest, the appraisal report and the real estate sales price (deed price) should be at least 75,000 USD.

If the value of the real estate, determined in the appraisal report, is over $75,000, but the value in the title deed is lower, the residence permit application is not approved. In such a case, the applicant may be granted a touristic residence permit.

Investors who received their title deeds before April 27, 2022 will not be subject to this new application requirement. Please visit our Residence Permit page or contact us for more details