The Turkish government is expected to submit a regulation to parliament next May granting citizenship to foreigners who buy property worth up to $ 300,000 instead of $ 1 million, Relating to property and licenses.
According to Turkish economic estimates, real estate sales to foreigners could reach $ 8 billion this year, taking advantage of the devaluation of Turkish lira, which has increased the purchasing power of foreigners in Turkey.
Dia Yilmaz, chief executive of Turkey's largest real estate company, said the planned amendment would boost foreign demand for property, stressing that Turkey could raise foreign purchases to $ 15 billion a year.
According to GYODER figures, Iraqis made the largest number of home purchases in Turkey last year at 4.341 houses, followed by Saudis with 2.351, Kuwaitis with 1.771, Russians with 1.686, Germans with 1.627, Afghans by 1.620 and British by 1.465.
