Despite the February earthquake, which affected investors’ perception of the local real estate market, applicants are still actively buying apartments in Istanbul. In the first 3 months of 2023 in the capital of Turkey. Eventually the total volume of housing sales amounted to 3,603 properties. Some of these real estates were bought by applicants of «Citizenship of Turkey by investment program”. But now we may also call it «Citizenship of Türkiye by investment program” since country officially changed the name spelling.
Interesting that Istanbul is a unique city located in two parts of the world: Europe and Asia. And each has its own differences and features. The European part of Istanbul includes 25 districts. 14 districts are located in the Asian, or as it is also called, Anatolian, part of Istanbul. Moreover, Istanbul is one of the fastest growing metropolitan areas in the world: every year, an average of 30 new streets appear here, empty lots are built up, suburbs join the capital.
How to obtain Turkish citizenship for investments?
The key condition for investors who want to apply for citizenship of Turkey is the purchase of real estate in the amount of $400,000 or more. And such an investment threshold means that you need to choose only premium real estate. Note that the procedure for obtaining citizenship of Turkey is one of the most accessible in terms of the number of steps and checks, as well as terms.
The cost of participation in the program consists of an investment in real estate of $400,000 + government fees + payment of APEX services legal registration + tax on the purchase of real estate. Processing takes about 6 months only.
Visa-free countries for Turkish passport holders
Turkish Citizenship gives the right of visa-free entry to 110 countries of the world. Including Singapore, Japan, South Korea, Iran, Lebanon, Brazil, Georgia, Qatar.
Apartments in a business class residential complex, Sisli. European part of Istanbul
Sisli is a rich and ennobled area of the city, adjacent to Sariyer and Beyoglu. Sisli is known for its breathtaking skyscrapers, the largest of which is a skyscraper with an observation deck Sapphire, rises 240 m above the ground. This area of Istanbul is also famous for the Istanbul Cevahir shopping complex, which is considered the largest in all of Europe.
Moreover, this area is a center of luxury and prestige, although it is landlocked. There are not many unique historical sites here, so there are not many tourists either. You may find here expensive boutiques, designer shops and shops, various restaurants and cafes. Walking the streets or drinking coffee in one of the cafes, it’s easy to meet a local celebrity or actor. Location is 30 km from Ataturk Airport. The area has a metro line M2 and a developed network of bus routes. The local population is about 315 thousand people.
A move-in ready properties designed by one of Turkey’s most famous architects, Emre Arolat. Near the location of the Bosphorus bridge, metro station, schools and universities, shopping and medical centers, cafes and restaurants. The building is constantly running concierge service and security. The infrastructure of the building includes a swimming pool, a fitness center, a children’s playground, shops, a large terrace.
The expected yield will be 6-7% per annum.
As an example, a one-bedroom apartment (1+1) costs $650,000.
The project meets all the criteria applicable to the purchase of real estate under the program “Citizenship of Turkey by investment program” (additional costs).
Elections will be held in Turkey very soon. It is impossible to predict how political reshuffles (if any) will affect the conditions of the passport program. Therefore, now is the time to make a decision.
