Starting amount of residence permit for property investment in Alanya may change

Turkish media are reporting encouraging news: the minimum property value required to obtain a residence permit in Alanya may drop from $200,000 to $100,000. However, these are only plans for now, albeit very encouraging. Journalists from Alanya have held meetings with authorities and public figures to discuss the regulation of the property market. They received an official promise from a representative of the ruling AKP party, led by President Erdoğan, to lower the minimum threshold of housing costs for residence permits. At the moment, residence permits for property purchases are only granted in areas where the number of local residents exceeds 80%.