Turkish Citizenship by Real Estate Investment: What Does the $400,000 Requirement Actually Mean?

Buying property worth at least USD 400,000, or the equivalent amount in another foreign currency, remains one of the routes through which a foreign investor may apply for Turkish citizenship. European investors can therefore structure the investment using the equivalent amount in euros; there is no permanently fixed EUR threshold because the euro equivalent changes with the applicable exchange rate.

The USD 400,000 threshold itself has not changed. What changed on 29 September 2026 is an important part of the valuation procedure used for citizenship-linked real estate transactions. The new framework changed who may prepare the underlying valuation report and extended the relevant validity period from six months to twelve months.

A property advertised for USD 400,000 or even USD 450,000 does not automatically qualify its buyer for Turkish citizenship. The type of property, its ownership and transaction history, its valuation, the amount actually paid, the way payment is documented and the identity of the buyer can all affect the application.

The better question is not simply “Am I buying a property worth USD 400,000?” It is “Will this particular property and this particular transaction qualify as a USD 400,000 real estate investment for Turkish citizenship?”

Current rule — October 2026

• Minimum real estate investment: USD 400,000 or the equivalent amount in another foreign currency, including EUR.
• Minimum holding period: 3 years.
• Latest major procedural change: 29 September 2026.
• What changed: the valuation procedure for citizenship-linked real estate transactions.
• Valuation-related validity period: extended from 6 months to 12 months.
• Can more than one property be used? Yes, subject to the applicable conditions.
• Can two investors simply split one property and each claim citizenship? No.
• Does paying USD 400,000 automatically guarantee citizenship? No.

What changed on 29 September 2026?

The USD 400,000 minimum investment has not changed. The September 2026 reform concerns the valuation procedure.

On 29 September 2026, the General Directorate of Land Registry and Cadastre (TKGM) announced amendments to Circular No. 2024/4 governing citizenship-related real estate transactions and updated Circular No. 2024/2 concerning valuation reports.

Under the updated framework, the valuation report underlying the citizenship valuation process may be prepared by a real estate valuation company authorised by the Capital Markets Board of Türkiye (SPK). The relevant validity period has also been extended from six months to twelve months.

For investors starting a transaction now, the practical point is simple: do not rely on an old citizenship-by-investment checklist for a transaction being completed after 29 September 2026.

What does the USD 400,000 requirement actually mean?

The current minimum is USD 400,000 or its equivalent in another foreign currency. The threshold has changed substantially over the life of the programme. The original real estate threshold introduced in 2017 was USD 1 million. It was subsequently reduced to USD 250,000 and increased to USD 400,000 in 2022.[1]

A citizenship-linked purchase can involve several different figures: the price negotiated with the seller, the sale price declared in the official transaction, the amount actually transferred and the value established through the citizenship valuation process. Those figures should not be assumed to be interchangeable.

Suppose an investor agrees to purchase an Istanbul apartment for USD 430,000. The sales brochure says USD 430,000, the contract says USD 430,000 and the investor is ready to transfer USD 430,000. That still does not mean the citizenship analysis is finished.

If the relevant value established for citizenship purposes falls below the required threshold, the fact that the buyer agreed to pay more does not simply make the problem disappear. This is one reason why citizenship eligibility should be examined before substantial funds are irrevocably transferred.

Can I invest in euros instead of US dollars?

Yes. The legal threshold is expressed as USD 400,000 or the equivalent amount in another foreign currency. An investor whose funds are in euros does not need a permanently fixed euro figure written into the citizenship rules.

There is therefore no static legal threshold such as “EUR 370,000” that remains valid regardless of exchange-rate movements. The relevant euro amount depends on the applicable foreign-exchange calculation for the transaction. For a European investor, the important point is to verify the qualifying equivalent before structuring payment rather than relying on an approximate EUR figure seen in an advertisement.

Why is there a separate valuation process?

If the authorities accepted whatever price a buyer and seller wrote into their contract, the citizenship threshold could potentially be satisfied through an artificially inflated transaction. The valuation mechanism is intended, among other things, to establish whether the required property value has genuinely been reached.[2]

For the buyer, the lesson is straightforward: the price you pay and the value accepted for citizenship purposes are not necessarily the same thing.

An investor should also not confuse a citizenship valuation with complete legal due diligence. A property can satisfy the relevant valuation requirement and still be a poor or legally problematic property to buy. This distinction becomes particularly important when the purchase price is only slightly above the USD 400,000 threshold.

What kind of property can be used?

Not every Turkish property worth more than USD 400,000 can necessarily be used in the same way. The legal character of the property matters.

For apartments and developments, concepts such as condominium ownership (kat mülkiyeti) and condominium easement (kat irtifakı) can become important, particularly where construction has not yet been completed. Turkish property law treats condominium easement as a legal structure connected with the future or incomplete building and the relevant land shares, carrying obligations relating to completion of the building in accordance with the project.[3]

For a foreign investor, the practical consequence is more useful than the theory: an unfinished apartment is not necessarily excluded from the citizenship route, but an apartment shown in a developer's brochure is not automatically a legally established independent unit either.

The title structure must be checked. The rules applicable since December 2023 also mean that agricultural land and undeveloped land should not be treated as interchangeable with a qualifying apartment merely because their market value exceeds USD 400,000.

Can an off-plan property qualify?

Potentially, yes. Turkish law allows the citizenship investment requirement to be satisfied in certain circumstances through a qualifying promise-to-sell agreement rather than an immediately completed transfer of title.

But signing an ordinary contract with a developer is not enough by itself. The relevant property must satisfy the applicable title requirements, the agreement must have the legally required form, the qualifying amount must be paid in accordance with the applicable rules and the required restriction must be registered.

There is an important difference between “I signed a contract to buy an apartment that will be completed next year” and “I entered into a real estate transaction that qualifies for the Turkish citizenship-by-investment procedure.” Investors considering a development under construction should also review our guide to off-plan property risks in Turkey.

Can I buy several properties to reach USD 400,000?

Yes. The investment does not necessarily have to consist of one USD 400,000 property. Several properties may be used to reach the required amount, provided that the applicable requirements are satisfied.[4]

An investor may therefore prefer two smaller apartments rather than one expensive apartment. But each property has its own title, valuation, transaction history and legal characteristics. Two purchase prices adding up to more than USD 400,000 do not by themselves complete the legal analysis.

Can two investors buy one property together?

This is different. A fractional acquisition cannot simply be treated as a qualifying citizenship investment by dividing the total property value between investors.

Imagine that two foreign investors purchase a USD 900,000 villa and each acquires a 50% share. It may appear economically that each investor has purchased USD 450,000 of Turkish real estate. That does not mean that each investor can simply rely on that share for the real estate citizenship route.

The important question is not merely how much the entire property is worth. It is what the citizenship applicant legally acquires.

Who should buy the property?

The identity of the buyer matters. The investment property should be acquired by the person whose investment will form the basis of the citizenship application.

A property purchased in the name of a spouse or child is not simply treated as though the citizenship applicant personally purchased it. Likewise, an investor should not assume that purchasing through a company is equivalent to purchasing personally merely because the investor owns the company.

Commercial ownership and citizenship eligibility are separate questions.

The property's history can matter

Citizenship suitability is not determined solely by looking at the buyer and today's purchase price. The history of the property can also affect the transaction.

The implementation rules contain restrictions designed to prevent the same property from simply being recycled through successive citizenship applications. Certain previous transfers involving foreign owners or persons who obtained Turkish citizenship through this investment route may therefore require particular attention.

This creates an important due-diligence question: Has this property previously been involved in a citizenship-linked transaction?

A property can have the right price and still have the wrong history. For the wider title review, see our guide to checking a Turkish title deed before buying.

How should the investment amount be paid?

Payment is not separate from the citizenship structure. The transaction must produce an acceptable documentary trail showing the relevant payment, and the foreign-currency and banking requirements applicable to citizenship transactions must be followed.

This becomes especially important where deposits are paid before the main transaction, the price is paid in instalments, funds are sent from different accounts, payments are made months before title transfer or the investor is purchasing directly from a developer.

The question is not simply “Did the seller eventually receive at least USD 400,000 or its qualifying foreign-currency equivalent?” How the payment was made and documented matters too.

The payment structure should therefore be considered before the money moves, rather than reconstructed after the fact.

Do I have to keep the property for three years?

Yes. The citizenship route requires the relevant three-year restriction to be registered. The investor remains the owner of the property, but the investment is made subject to the required commitment not to dispose of it during the prescribed period. A corresponding restriction applies to qualifying promise-to-sell transactions.

A buyer should therefore ask two questions: Can this property support my citizenship application? And am I comfortable holding this particular property for at least three years?

Does the investor have to live in Türkiye for five years?

No. The real estate investment route falls within the exceptional acquisition framework and should not be confused with ordinary naturalisation based on residence.

Ordinary acquisition of Turkish citizenship is associated with requirements including residence and other integration-related conditions.[5] The qualifying investment route operates under a different legal structure.[6]

There is nevertheless an immigration stage in the investment procedure. The investor proceeds through the residence-permit mechanism applicable to qualifying investors before the citizenship process is completed. The existence of that stage does not turn the investment route into a five-year residence programme.

What about my spouse and children?

The investment route is particularly relevant for families. The exceptional citizenship framework extends to the qualifying investor's foreign spouse and the investor's or spouse's minor or dependent foreign children, subject to the applicable legal and administrative requirements.[7]

Marriage records, birth records, parentage and other civil-status documentation may therefore become part of the broader citizenship file. The property may be the investment asset, but the citizenship application concerns people.

Does a USD 400,000 investment guarantee Turkish citizenship?

No. Citizenship by investment is frequently advertised as a simple equation: USD 400,000 property = Turkish passport. That is too simplistic.

A qualifying real estate investment enables the applicant to proceed through the exceptional citizenship framework. It does not convert the purchase price into an unconditional legal right to citizenship. Turkish citizenship law preserves the competent authority's decision-making role, including the relevant national-security and public-order considerations.[8]

Citizenship-eligible does not mean safe to buy

This may be the most important point for a foreign property investor: a property can qualify for the citizenship procedure and still be a bad property to buy.

The citizenship authorities are not conducting complete real estate due diligence on behalf of the investor. Before acquiring a property, a buyer should ordinarily understand legal ownership, mortgages and attachments, condominium status, planning and construction status, discrepancies between the registered and physical property, existing occupants, restrictions, the structure of an off-plan development and previous transactions that may affect citizenship eligibility.

A citizenship valuation answers a particular valuation question. It does not answer the broader question: “Is this a safe property for me to buy?”

Our broader legal checklist for foreign property buyers in Turkey explains the pre-purchase review separately from the citizenship procedure.

The safer order: check first, pay second

A risky sequence is easy to recognise: find a property, negotiate the price, pay a reservation fee, pay a substantial deposit, and only then ask whether it qualifies for citizenship.

A safer sequence is: find the property → check citizenship eligibility → investigate the property and title → structure the acquisition and payment → then proceed with the transaction.

Before payment, discovering a legal problem may simply mean choosing another property. After several hundred thousand dollars or its foreign-currency equivalent has been transferred, the same discovery can become a dispute.

So what does the USD 400,000 rule really mean?

The USD 400,000 threshold is the starting point, not the complete legal test. For a real estate investment to serve its intended citizenship purpose, the property, ownership structure, valuation, payment, documentation and registration must work together.

For transactions beginning after 29 September 2026, the newly amended valuation framework should be used rather than older procedural guidance still circulating online.

There is one final distinction worth remembering: a citizenship-eligible property is not necessarily a good investment. A properly planned transaction should qualify for the Turkish citizenship procedure and be a property that the investor would still be comfortable owning even without the passport.