Important amendments to real estate residency in Türkiye, October-2023

Important amendments to real estate residency in Türkiye, October-2023
According to the latest news received from some sources regarding the law granting real estate residency in Türkiye exchange for real estate ownership, the law has been amended with important amendments to be :“Raising the value of the property through which the Turkish government grants real estate...
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According to the latest news received from some sources regarding the law granting real estate residency in Türkiye exchange for real estate ownership, the law has been amended with important amendments to be :

“Raising the value of the property through which the Turkish government grants real estate residency in exchange for real estate ownership from 75 thousand to 200 thousand US dollars.” “Unifying this value in all cities at one price, which is 200 thousand US dollars, and the value is calculated according to the bank bill of exchange.”

The good news about this topic is that :

If the property owner and the holder of a real estate residence permit in Turkey is married, the new amendments grant the property owner the addition of “husband or wife and children under 18 years of age” as an addendum to the real estate residence permit. As for children whose ages exceed 18 to 25 years, the property owner can add them as an appendix to the real estate residency permit, provided that It is proven that the “boy or girl” is single or a university student, and real estate residency is required to be through owning one property with one title deed and worth $200,000, and combining real estate is not accepted.

Are previous real estate residency holders included in the new decision ? This decision does not include those who owned a property or previously obtained real estate residency, even if the value of the property was less than 200 thousand US dollars. It only includes those who owned a property on the date of the law’s passage and after it only.

MBANY Real Estate would like to point out that until this moment there is no official confirmation of the location of the amendment and it has not been published in the Official Gazette. We are in the process of officially confirming this matter.

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