<\/p>\n
With the slaughter of terrorist attacks by the so-called Islamic State, a failed coup attempt, and the poor performance of the Turkish lira against the US dollar, it is hard to argue that 2016 was a good year for Turkey. Despite the string of unfortunate events of the past year, the stability that Turkey has gained over the past 15-16 years has not been significantly affected. Criticism that Turkey is now facing a dictatorship, and last year\u2019s general elections and the April 2017 referendum, have proven that the Turkish people want stability and have no intention of giving up the gains of the past two decades.<\/p>\n
The development of many mega projects, growing population, increasing per capita income and ease of purchasing real estate are leading to the rapid growth of the Turkish real estate sector.<\/strong> Real estate plays a dominant role in the national economy and Turkey's position in the international market.<\/p>\n One of the recommendations of the Organisation for Economic Co-operation and Development (OECD), published in July 2016, was that Turkey \u201creduce barriers to foreign direct investment.\u201d This helps explain why the Turkish government has decided to attract foreign investors by easing visa requirements and easing the path to citizenship.<\/p>\n On January 12, 2017, a new regulation was published in the country's official gazette (TC Resmi Gazete) stating that if a foreigner purchases a property worth $1 million or more, the owner will be eligible for citizenship. The owner cannot sell the property in Turkey<\/strong> for three years. In other words, the applicant\/owner cannot transfer the Title Deed (TAPU) to another person.<\/p>\n Applications for citizenship can be made directly with the Governors in major cities or with the local district offices in the counties. Applications can be made through private agents\/firms as well as through a lawyer. The application process should take four to five months from the submission of the application to the outcome.<\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" With the slaughter of terrorist attacks by the so-called Islamic State, a failed coup attempt, and the poor performance of the Turkish lira against the US dollar, it is hard to argue that 2016 was a good year for Turkey. Despite the string of unfortunate events of the past year, the stability that Turkey has\u2026<\/p>\n","protected":false},"author":1,"featured_media":794841,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[258,266],"tags":[],"class_list":["post-293820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investors","category-turciya"],"yoast_head":"