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Citizenship with every US$1mill property purchase! Citizenship with every US$1mill property purchase!
Share this on WhatsAppThis may be a longshot, given the current turbulence in the region, but if you are in the market for a... Citizenship with every US$1mill property purchase!
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This may be a longshot, given the current turbulence in the region, but if you are in the market for a complete change of scenery then Turkey is offering citizenship to foreigners who buy properties that are worth at least US$1 million (RM4.44 million).

According to Turkey’s Official Gazette, the government said it would offer citizenship to those who purchase a property at this price, make a fixed capital investment of at least US$2 million (RM8.88 million) , or keep at least US$3 million in a bank account for at least three years.

Citizenship will also be offered to those who are able to create least 100 jobs in the country.

Foreigners who buy properties worth over US$1 million will be offered citizenship.

Foreigners who buy properties worth over US$1 million will be offered citizenship.

The decree has come amidst concerns that foreign investment into the country’s real estate state sector is rapidly declining.

The globalpropertyguide.com  news website reported that property purchases by foreigners dropped by 19 per cent last year. Currently, buyers from Iraq, Saudi, Kuwait and Russia bought the highest number of properties.

The decline is in contrast to domestic buyer figures, which increased by 4.5 per cent or 1.2 million properties in the first 11 months last year. Market analysts say rising security concerns.

Once a tourism hotspot, Turkey is now reeling from a “bloody” 2016 that saw a number of attacks  that have left hundreds dead. The country is currently on high alert.

Property 360 Online

Property 360 Online is a news portal focused on major issues, views and major market movements in the Malaysian real estate sector.

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