Author: Luxury Estate Turkey
Viewed 360 times
01 August 2025
As of 2025, the minimum investment threshold for obtaining Turkish citizenship through real estate remains $400,000. However, it’s crucial to understand that the amount stated in your purchase contract is not what matters. The key figure is the official valuation confirmed by a licensed appraiser certified by the Capital Markets Board (SPK).
This rule was introduced to prevent price manipulation and underreporting, note that the official valuation may differ from the market price by up to 20%. Therefore, when selecting properties, investors should aim for actual market prices that are likely to match the official appraisal, or choose assets priced slightly above the threshold to ensure compliance.
To meet the $400,000 threshold, you are allowed to purchase multiple real estate assets. There are no restrictions on the type or location of the properties, as long as their combined appraised value exceeds the required minimum.
However, all properties must be included in a single application. In practice, this means no more than three title deeds can be processed in one day, as they must be registered simultaneously to qualify for a single Certificate of Eligibility.
You cannot file separate applications for each property or spread out the purchases over time. The land registry will not accept your application if the total value at the time of submission is below $400,000. As a result, the multi-property strategy is usually executed in a single session, for example, purchasing two apartments and one villa at once to exceed the threshold.
Regardless of how many properties are included, each one will receive a legal annotation in the title deed prohibiting resale for three years. After this period, you may lift the restriction and sell the properties to recover your investment.
However, take note: the same property cannot be reused for another investor’s citizenship application. Each unit may only be used once for citizenship purposes.
The citizenship program allows for a wide range of property types: new apartments from developers, resale apartments, villas, commercial premises, and even units under construction. The key condition is that the property must be a first-time sale to you, meaning it must be purchased from a Turkish individual or company.
Empty land without a structure is not eligible unless there is an active construction project with a valid building permit underway.
Co-owned or fractional ownership is not allowed. All properties must be registered solely in the applicant’s name.
You can combine different types of properties, such as a resale apartment and an off-plan unit. Ready properties must have their title deeds issued, while properties under construction require a notarized purchase agreement.
Buying a single high-end villa can backfire. One major risk is overpayment—sellers often inflate prices for sea views or unique architectural features well above their actual market value.
Luxury villas also tend to have lower liquidity. The buyer pool for a $500,000 property is small, and reselling may take longer or require a price cut. Market data shows that demand and price growth are generally faster in the affordable housing segment, while capital appreciation in the luxury segment is often limited.
Expensive properties usually offer lower rental returns. As the purchase price rises, the rental yield drops. Large villas are hard to rent year-round—they target a narrow market of affluent tourists and often remain vacant off-season, while still incurring maintenance costs.
In contrast, two or three mid-range apartments purchased for the same amount typically generate higher total rental income and enjoy more consistent year-round occupancy.
Unconventional properties—custom villas, penthouses with special features—can run into valuation issues. SPK-certified appraisers rely on market comparables and average area data. If a villa is atypical for its location (e.g., an ultramodern mansion in a rural area), the official appraisal may fall below the purchase price.
This risk is significantly lower with standard apartments, which are easier to evaluate accurately and are more likely to meet the required value.
The portfolio—or multi-property—approach to Turkish citizenship refers to purchasing several real estate assets whose total value satisfies the $400,000 requirement.
Instead of one expensive property, you acquire 2–3 assets: for example, two apartments and a villa, or three apartments. All properties are registered in your name and submitted under a single citizenship application.
How does it work?
You select properties—often of different types. For example: a city apartment for $150,000, a holiday apartment for $100,000, and a small villa for $170,000, totaling $420,000. All deals are finalized around the same time, and you submit one citizenship file with all documents.
There are several key advantages to this approach:
1. Diversification: You spread your investment across different property types, significantly reducing risk. If one property faces temporary issues—such as a vacancy or renovation—the others continue to generate income or appreciate.
2. Higher Rental Yield: A portfolio of mid-range apartments often outperforms a single luxury villa in rental income. You can mix strategies—rent out a city apartment long-term for stable income, and use the villa for short-term rentals during peak season.
3. Combining Income and Personal Use: Many buyers don’t want just income—they also want a home. This model allows you to achieve both. You can live in the villa with your family and rent out your Turkish apartments purely for income.
4. Geographic Flexibility: You can spread your investment across regions. For instance, buy one apartment in Istanbul for capital growth and others in Alanya for better short-term yields. This hedges your investment against regional market fluctuations and gives exposure to different segments of the Turkish economy.
A smart portfolio should balance function and value. A common formula is allocating 50–60% of the budget to one higher-value property, with the remaining 40–50% spread across one or two smaller assets. This helps you stay close to the threshold without overspending while achieving diversification.
Vary the property types and purposes. Many portfolios include one property for personal use—like a spacious family apartment or holiday villa in Turkey—and the rest are strictly income-generating (e.g., studios or commercial units that are easy to rent and sell).
It’s also more efficient to concentrate purchases in a single region, like Antalya, to complete all transactions simultaneously with minimal bureaucracy. Buying an apartment, a penthouse, and a townhouse in one city is simpler than managing deals across Istanbul, Ankara, and Izmir. Although technically allowed, the latter option requires more time and coordination.
Aim to mix liquid, income-producing assets with future-growth investments. One unit can deliver steady income today, while another in an up-and-coming area may appreciate over time. A well-built portfolio can deliver capital preservation, rental yield, and long-term gains—all within the citizenship framework.
If your main goal is to earn rental income, the portfolio model is ideal. Instead of investing $400,000 into one luxury property with a low return, you can buy two or three resale apartments in Turkey and earn more overall.
For example, an investor targeting 7–8% annual returns in hard currency can spread their investment across apartments in Istanbul and Antalya. Each may yield 5–6%, but the combined rental income will exceed that of most high-end properties, which typically return only 2–4% at best.
Plus, the risk of vacancy is lower. If one tenant moves out, the others continue to generate income.
This approach is also perfect for families who want to combine homeownership with additional revenue. For example, a family can purchase a comfortable apartment near schools and amenities for personal use, and invest the remaining budget into one or two rental Turkish properties.
Others may buy a villa for their parents or vacation use, but prefer not to tie up the entire budget in a non-earning asset. Adding a few affordable rental studios to the portfolio solves both needs: housing and income.
This model is especially useful for relocating families who want both comfort and financial stability from the start.
In many Turkish cities, it’s difficult to find a single property worth $400,000. In Antalya or Alanya, property prices are generally lower, and suitable villas are rare. Within central Antalya, options are limited—most available villas are located in suburban areas like Belek or Kemer.
Investors focused on these areas often build portfolios instead: several apartments by the sea, or a city apartment paired with a suburban villa.
The same applies to cities like Mersin, where high-end properties are nearly nonexistent. Apartments are more affordable, so it makes more sense to combine a few units worth $100,000–150,000 than overpay for a scarce villa.
In such markets, the multi-property strategy is often not just convenient, but the only practical way to meet the citizenship threshold.
The multi-property model is often the fastest route to a Turkish passport. Finding a single qualifying property can take months, especially if you're picky about location or features. Securing two rental-ready apartments and a commercial space is usually quicker than hunting for the perfect $400,000 villa.
Moreover, the model allows for staggered investment. If you currently have only part of the funds, you can buy your first property—for example, at $250,000—and purchase the second within a few months. Once you reach the required value, you can file your application.
Two studio apartments in Alanya, each $100,000, located in a complex with a pool
One villa in Kemer for $220,000, close to the sea
Total investment: $420,000
Investor logic:
Studios target monthly tourist rentals, generating an estimated $15,000/year (7–8% yield). They’re easy to sell if needed.
The villa is used by the family in summer and rented short-term the rest of the year, with potential income around $10,000.
The land has strong appreciation potential.
SPK valuation:
Studios appraised at $95,000 each; villa at $230,000 (land included). Total: $420,000—meets requirement.
Future plan:
Sell the villa after 3 years if prices rise significantly.
Keep the studios as stable rental assets.
One 3+1 apartment in central Antalya (resale) – $180,000
Fully renovated, suitable for rental to a family or for use as an office
One duplex in a new residential project on the outskirts – $130,000
Located in a rapidly developing area with moderate rental yield but high capital growth potential
One townhouse in a seaside Aegean village – $100,000
Summer vacation rental for tourists with vehicles, land value expected to increase
Total investment: $410,000
Investor logic:
The 3+1 apartment provides steady income (~$12,000/year) as a reliable city-center asset.
The duplex is a bet on future appreciation: 5% yield from rent, with plans to sell in 3 years.
The townhouse generates ~ $6,000 annually from short-term rentals, with long-term land value growth.
SPK valuation:
The apartment was appraised slightly above the contract price; the townhouse came in slightly below.
Combined SPK valuation: ~$400,000 — sufficient for citizenship eligibility.
Investor plan:
Citizenship obtained.
Rental income offsets ownership costs.
The duplex and townhouse are viewed as future resale or personal-use options.
Two 1+1 apartments in a new luxury complex in Alanya – $130,000 each
One 2+1 apartment in the same complex – $150,000
Total investment: $410,000
Investor logic:
All properties are in the same complex for ease of management.
The 1+1s are rented long-term to singles and couples ($750/month each).
The 2+1 is rented to a family or as office space ($1,000/month).
Total projected income: ~$30,000/year (~7% yield)
Strategy advantages:
Portfolio consistency — investor conducted due diligence on the project and trusted the developer
Simplified management — one property manager or concierge handles all units
Bulk purchase discount — ~5–7% price reduction for buying three units at once, offsetting transaction costs
SPK valuation:
Single report issued for all three apartments
Combined valuation: ~$420,000, thanks to high build quality and project status
Financial plan:
After 3 years, sell one 1+1 apartment at a profit and reinvest the proceeds into new properties.
(These examples are hypothetical. Each investor's portfolio should be customized according to individual goals and regional market conditions.)
Many Turkish developers offer installment plans for off-plan properties. These are typically interest-free terms ranging from 6 to 24 months, with an upfront payment of 30–50%, depending on the project's phase and developer policy.
For example, you sign a purchase agreement for two under-construction apartments totaling $250,000, pay $150,000 upfront, and agree to pay the rest over 12 months.
Can you apply for citizenship if the property is not fully paid yet?
Yes, provided certain conditions are met. Turkish law allows notarized sales contracts to serve as a valid basis for a citizenship application, if:
The contract is signed at a notary
It is dated after September 19, 2018
All payments are made via Turkish bank transfers
At least $400,000 has been paid at the time of application
If you have already transferred $400,000 in total—even if for multiple properties or for unfinished construction—you can submit your application. You receive title deeds (if ready) or notarized contracts with encumbrance notes, file your citizenship documents, and continue installment payments afterward, sometimes even after receiving the passport.
Keep in mind that with long-term installment plans, developers may increase the total property price. Make sure all financial terms are fixed in writing upfront. What matters is the total price in the notarized contract and its confirmation through an SPK valuation.
Important: If you miss payments after applying, the citizenship process could be jeopardized. The Certificate of Eligibility can be revoked if payments are not completed. Therefore, use installment plans only if you're confident in both your financial capacity and the developer’s reliability.
Luxury Estate Turkey is a licensed real estate agency specializing in helping investors obtain Turkish citizenship through real estate purchases. We start by analyzing your goals and budget to select the most appropriate properties, both legally and strategically.
We manage the entire process on a turnkey basis—a crucial advantage for multi-property investments, where each asset must be properly structured and documented.
To save your time, we organize tailored viewing tours where you can visit all shortlisted properties in your preferred region within 1–2 days. Mornings for new builds and apartments, afternoons for villas, evenings for furnished properties with tenants.
During our consultation, we’ll help you plan your investment structure: how to allocate your budget, which cities offer the best opportunities, and which property types will bring the most benefits. Contact us, and our team will take care of the rest.
Yes, but you should only apply for citizenship after all properties are purchased. It’s best not to delay finalizing your full investment plan.
Only the SPK appraisal matters for the citizenship process, not the contract price or the amount you paid the seller. The government recognizes only the value confirmed in an official report from a licensed SPK-certified appraiser.
Yes, you can include both completed and off-plan properties in one citizenship application, as long as all legal requirements are met. Turkish law permits the inclusion of under-construction units, even if no title deed has been issued yet. In such cases, a notarized purchase agreement serves as the legal basis for your application.
Turkish Citizenship 
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