According to the news of Gazete Pencere the Ministry of Interior's Migration Management is making a new regulation in the sale of housing to foreigners.
On October 16, 2023, the Ministry of Interior, Directorate of Migration Management, issued a regulation increasing the lower limit for the sale of housing to foreigners for residential purposes from 75 thousand dollars to 200 thousand dollars.
As a result of a new regulation by the Ministry of Interior, Migration Management, the lower limit for the sale of housing to foreigners as of 2024 is 600 thousand dollars.
Making a statement on the subject, Atem President Hakan Akçam said:
"Currently, foreigners who buy real estate for 400 thousand dollars are given the right to apply for Turkish citizenship.
Housing sales to foreigners are at the lowest level in the last 2.5 years
According to TurkStat data, in October 2023, housing sales to foreigners have fallen to the lowest level in the last 2.5 years. After the pandemic, housing and rent increases in Turkey continued to increase rapidly, while the number of housing sales passed the decline.
Stating that one of the reasons for the upheaval of the market on the housing side in real estate is housing sales to foreigners, Akçam drew attention to the decline in sales in recent months.
In October 2023, housing sales to foreigners saw the lowest levels of the last 2.5 years.
According to the data, the decline in housing sales to foreigners, which was limited to 0.6 percent in the first month of the year, increased to 27 percent in the same month after the earthquakes that occurred on February 6; In the middle of the year, it continued to decline sharply with 42 percent.
In October 2023, housing sales to foreigners decreased by 53 percent year-on-year to 2,550 numerically. Thus, housing sales to foreigners have seen the lowest level since 2020.
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