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$75,000 Minimum Value on Property for Residence Permit Applications

ongun akay

Credit Martin Redman and Fethiye Area News

For anyone applying for a Residence Permit as a property owner there is now a minimum value that the property must be.
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According to the latest decision by the Presidency of Migration Management of Turkey, foreigners who wish to obtain short-term residence permits or family residence permits via purchasing immovable property in Turkey will be subject to a minimum value as part of updated criteria.

As of May 5, 2022, if you or your family wish to benefit as a Tapu holder you will have to make sure the property you buy is worth at least:

  1. $75,000 and over if it is located in one of the 30 metropolitan cities in Turkey,
  2. $50,000 and over if it is located in one of the remaining 51 smaller cities in Turkey.
The requirement will apply to all districts in these cities, meaning that foreign nationals will have to buy a house from Bodrum or Fethiye, for example, that is at least $75,000 because it is under the jurisdiction of Muğla Metropolitan Municipality.
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A list of the 30 cities that qualify for the $75,000 and are hence deemed “large cities” managed by their respective metropolitan municipality (büyükşehir belediyesi) is presented below.
Those wishing to purchase property in the remaining cities and districts, will need to satisfy a minimum of $50,000 in order to be eligible for the resident permit scheme, according to the Turkish government.
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The most important requirement for any foreign national who wishes to be eligible for this plan is that the real estate they purchase be listed and used as their primary place of abode.
The foreign national family members can apply for a residence permit in this context if they have a shared or joint ownership of the residence. Under the family members category, Turkish authorities count the applicant’s spouse, child (under 18 years of age), and dependent adult child.

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EDITORS NOTE….
What documentation will be required by the GOC as proof of purchase value of a property has not yet been disclosed.
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At present it’s assumed this relates to any First Applications ,not renewals. Also by First Applications this ‘may’ include those property owners who for whatever reason let their Residence Permit validity lapse

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