In the first year of the reduction of the required price limit in order to obtain the citizenship from 1 million dollars to 250 thousand dollars, while the number of housing units sold reached 37 thousands units, the share of foreigners in housing sales increased from 1.3% to 3.7%.
One of the most important reasons that make people want to buy a property in Turkey is their desire to have the chance of a higher standards of living and to obtain a more powerful passport than their own one through buying a relatively cheaper housing unit. Also, the preference of people coming from Muslim countries to live in accordance with their beliefs has an important role in this choice. According to the report prepared by Henley&Partners company, “Henley Passport Index 2019”, at the bottom of the list of the most powerful passports are the Iraqi and Afghan passports, which provide visa-free access to 30 countries only. While the Iranian passport allows for a visa-free access to 42 countries, Jordanian, Egyptian and Tunisian passports to 50 countries, the Turkish passport provides a visa-free access to 98 countries.
After the reduction of the real estate price to 250 thousand dollars, the obtaining of Turkish citizenship through real estate purchasing and other investments has increased. 2,611 foreign investors became Turkish citizens in the one-year period between the 19th of September 2018, when the changes were implemented, and the 19th of September this year. When taking family members into account the number reached 9,962. While the number of the foreign investors applying for the Turkish citizenship in that period is 3,859, it becomes 14,876 when family members are taken into account.