A Turkish construction company Nivo İstanbul's advertisement states that Turkish citizenship will be given to those who buy the houses sold by the company. It is stated that foreigners are “entitled to apply for Turkish citizenship” if they purchase a house from Nivo.
According to a company official who talked to soL news, they follow the process as the company and make the necessary applications for citizenship after clients pay 250 thousand dollars in advance.
The source also stated that citizenship is given "within 1 or 2 months" and that the projects will end in 2019, thus the land titles and citizenships will be given after the payment.
Deputy Minister of Environment and Urbanization Fatma Varank had announced that they aimed a sale of $12 billion worth of property to foreigners in 2019.
The minimum immovable required for conferring Turkish citizenship to foreigners was reduced from $1 million to $250,000 on September 18 this year. Domestic sales to foreigners increased by 151.1 percent in September and by 134.4 percent in October.
CONSTRUCTION SECTOR IN TURKEY
Within the national income, the share of construction in value added rose from 5.1% in 2002, when the AKP came to power, to 9.7% in 2016. Therefore, the weight of construction in the economy almost doubled during this period.
The data on housing sales, however, showed that the sales have been below the expectations. While the housing sales declined by 12.5 percent, mortgage-based sales fell by more than 67 percent in Turkey back in August. The Housing Price Indices announced by the Central Bank of Turkey on Sep. 19 show that while the annual inflation exceeded 16 percent in July, the increase in housing prices remained around 10 percent.