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villas and apartments in turkey for sale



Our potential clients are largely from Middle Eastern countries. We see people from Azerbaijan and Iran but we have a customer portfolio dominated by Qatar," he told AFP.

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- '$250,000 not enough' -

Along with the financial incentives, another attraction of buying property in turkey is the possibility of gaining a Turkish passport, which offers eased or visa-free travel to key destinations.

Under a decree issued last month, Turkey made it easier for foreigners to become Turkish citizens by reducing the financial and investment criteria for citizenship.

Foreigners now need to have $500,000 deposited in Turkish banks -- down from the previously required $3 million -- while fixed capital investment was cut from $2 million to $500,000.

And crucially, individuals owning property worth $250,000 or more are now also entitled to become Turkish citizens, compared with the previous value necessary of $1 million.

Yet Ayhan said that, while the latest measures would ramp up demand for newly-built apartments in Istanbul, a yali was an ultra-luxury asset beyond the range of most buyers.

"It is not possible to buy apartment in Istanbul, let alone a yali with $250,000," he said.