How Turkey plans to boost home sales to foreigners
Preparations are underway to offer work permits in addition to residency to buyers of real estate in Turkey, and citizenship could be next on the table.
Mehmet Simsek, Turkey's deputy prime minister for the economy, excited the Turkish media with his May 12 statement: “We will grant residence permits, work permits to those who come from abroad and buy a residence above a certain level. Turkey has a capital deficit.”
Hurriyet ran the statement under the headline “Residence and work permits for foreigners buying houses.” But Turkey has already been issuing residence permits to house buyers since 2013. Residence that was initially granted for three months was extended to one year in 2013.
