For property investors

Türkiye for Property investors

USD 400K citizenship route, no nationality restrictions in most areas, double-currency title deeds — but new rental restrictions and a TRY-driven valuation gap to navigate.

Key facts

CBI floor
USD 400,000 property
Hold period
3 years before resale (for CBI grants)
Tapu transfer tax
4% (often split 2/2 with seller)
Best yield markets
Antalya, Bodrum, parts of Istanbul

Türkiye remains one of the more accessible property markets for foreign investors — no nationality restrictions in most areas, straightforward title deed (tapu) transfer, and an active CBI programme at a USD 400,000 floor. The investor population is broad: CBI applicants buying for citizenship, retirees buying their long-term home, professional investors targeting rental yield, and increasingly buy-to-let operators in coastal markets.

The market has tightened on a few fronts since 2022: short-term rental (STR) licensing is now required for Airbnb-style operations and many municipalities limit licences; the TRY-USD denominated valuation gap has widened (the government valuation report sometimes lags market price); and a few districts in major cities (notably parts of Istanbul) require additional foreign-buyer permissions.

The most active investor-targeted markets are Istanbul (broadest stock + capital appreciation potential), Antalya (rental yield + retiree demand), Bodrum (premium summer rentals), and Mersin (post-2022 growth + lower entry price). The CBI USD 400K route remains the single largest reason most foreigners look at Turkish property.

Citizenship at USD 400K

Turkey's CBI property route requires USD 400K minimum investment + 3-year hold. Open to most nationalities. Most-used path to a Turkish passport for foreigners.

STR licensing has tightened

Short-term rentals (Airbnb-style) now require municipal licensing. Caps and approvals vary by district. Verify before buying a buy-to-let.

Tapu transfer is straightforward

Title deed transfer at the Land Registry typically takes a few hours once funds are ready. 4% transfer tax (often split 2/2 with seller).

Watch the valuation gap

Government-licensed valuation must support the CBI USD 400K floor. With TRY moves the gap between market price and valuation can widen — verify before commitment.

Run the numbers

Calculators most relevant for property investors

Citizenship by Investment Calculator

Critical — all-in cost of the USD 400K property route.

Tax Residency Calculator

Property income flows differently if you're Turkish tax resident.

Istanbul Cost of Living Calculator

Reference rent levels for buy-to-let yield modelling.

Antalya Cost of Living Calculator

Rental yield benchmark for the largest non-Istanbul market.

Bodrum Cost of Living Calculator

Premium peninsula — summer-heavy rental dynamics.

Foreign Income Tax Checker

Investment income treatment if you become Turkish tax resident.

Practical things to know

  • Use a Turkish CBI law firm for any property purchase intended for citizenship — the file is more often rejected for paperwork issues than asset issues.
  • Verify the government valuation report supports your USD 400K floor before signing. Ask the agent to show comparable valuations from the same valuation firm.
  • VAT exemption is available on first sale from a developer for qualifying foreign buyers — check eligibility and structure carefully if applicable.
  • Tapu (title deed) transfer is at the Land Registry; legal default splits the 4% tax 2/2 between buyer and seller, but private deals often push the full 4% to the buyer.
  • Short-term rental: verify municipal licensing rules before relying on Airbnb income. Long-term rental (1+ year leases) is unrestricted.
  • Property tax: low (~0.1–0.6%/year of assessed value depending on city + property type). Income tax on rental income applies if you're tax-resident.