Buying Property for Turkish Citizenship: Why $400,000 Is Not Enough

In 2022–2023, demand for Turkish citizenship through real estate investment was particularly strong. A large number of properties entered the market specifically targeting foreign buyers seeking citizenship.
Even then, I warned my clients about the risks.
I was particularly cautious about certain projects on the outskirts of Istanbul where, in my view, prices offered to foreign buyers were difficult to justify based on the characteristics of the property itself and actual market conditions.
I was also very selective about properties marketed for citizenship in resort areas of southern Türkiye, including Antalya and Alanya.
This does not mean there is no good real estate in these markets. There is. But when a property is being purchased for citizenship, it is essential for me to understand not only the quality of the asset, but also whether its full transaction value can be documented transparently.
For this reason, even during that period, I did not recommend a property simply because a developer presented it as “suitable for citizenship.” I wanted to understand whether the price was commercially justified and whether the entire transaction structure could withstand scrutiny not only at the time of purchase, but also later.

The risks associated with improperly structured citizenship transactions can no longer be considered theoretical.
In August 2026, Türkiye’s Ministry of Justice announced that legal proceedings had been initiated to revoke the citizenship of 687 people determined to have obtained it improperly through a real estate scheme.
According to the Ministry, lower-value properties were presented as more expensive through false appraisal reports, sham transactions, and fictitious financial movements. The investigation extended across 16 provinces. Suspects were detained, and restrictions were imposed on more than a thousand properties as well as other assets.
For me, this case reinforces a principle I have discussed with clients for years:
Citizenship should never depend on an artificially inflated property value.
If the property’s actual market value, transaction documents, and movement of funds do not support the declared price, I do not consider it an appropriate property for a client — even if the developer’s presentation says “Suitable for Citizenship.”

When selecting property for Turkish citizenship, I pay very close attention to the developer behind the project.
For these transactions, I prefer to work with companies that operate transparently, can provide the necessary documentation, and are prepared to officially document the full genuine transaction value.
But financial transparency alone is not enough.
I also consider the developer’s reputation, construction quality, the project itself, land value, location, infrastructure, comparable properties on the market, and the amount of future supply in the area.
If an apartment is priced above $400,000, I want to understand why the property is genuinely worth that amount.
Another factor is particularly important to me: is there demand for this property from buyers who do not need Turkish citizenship at all?
Eligibility for the citizenship program and investment quality are two different things.
A property can qualify for citizenship and still be a poor investment.

There is another feature of the market that foreign buyers are not always told about in advance.
Even within the same development, commercial terms for a local buyer and for a foreign buyer purchasing specifically for citizenship may differ.
A citizenship transaction requires a transparent and fully documented structure: the official transaction value, bank payments, and supporting documents must meet the program requirements.
As a result, in some projects I see what could be described as a “citizenship premium” — a higher asking price for a foreign investor purchasing through the citizenship program.
This does not automatically mean that the property should be rejected. But the buyer should understand exactly what they are paying the additional price for.
This leads me to another question:
Will this property still be worth its price to a future buyer who does not need Turkish citizenship?
At that point, I stop evaluating it merely as a route to citizenship and start evaluating it as what it ultimately is: real estate and an investment asset.

One of the first questions I ask a client is: What do you plan to do with this property once the three-year restriction on selling it has expired?
If the client intends to keep the property and rent it out, I look at potential rental demand, the likely tenant profile, the location, and ongoing ownership costs.
If the plan is to sell after the restriction expires, liquidity becomes much more important. I try to assess in advance who the next buyer could be and how easily the property will compete with other properties on the market.
If the family may eventually live in the property themselves, a different set of criteria becomes relevant: transportation, schools, everyday infrastructure, the quality of the neighborhood, and overall quality of life.
So even when a client’s initial request sounds simple - “I need a property for citizenship” - I try to understand the objective behind the purchase in much greater depth.
Citizenship may be the reason for buying today.
But it should not be the only reason for choosing a particular property.

Under the current rules, the minimum real estate investment required for Turkish citizenship is $400,000, and the property is subject to a three-year restriction on resale.
But I do not believe the property search should begin with:
“Find me something for $400,000 so I can get citizenship.”
For me, the right question is:
“Which property genuinely meets the citizenship requirements and will still be a sound real estate asset three, five, or ten years from now?”
These are two very different approaches to buying property.
In the first, citizenship becomes the primary objective and the property is simply a means of achieving it. In my view, this is precisely where buyers risk purchasing an overpriced or illiquid asset that may be difficult to resell later at a comparable price.
In the second, we evaluate the asset itself first: its real value, the quality of the project and developer, location, future demand, rental potential, and resale prospects. Only then do we determine whether the selected property meets all the requirements of the citizenship program.
My role is not simply to find a property that can be used in a citizenship application.
I want to recommend a property that I would still consider a good purchase even if the words “Suitable for Citizenship” were removed from the sales presentation.

Founder & CEO, Palma Realty World

I have lived and worked in Türkiye for more than 20 years and advise international buyers on property purchases for living, investment, and Turkish citizenship. I am a graduate of the Institute of Asian and African Studies at Lomonosov Moscow State University and a certified Sorumlu Emlak Danışmanı — MYK Level 5.