During 2019, property transactions between Turkish nationals and Middle Eastern citizens increased by nearly 100% compared to 2018. But some nationalities – primarily Palestinians -had encountered difficulty with such purchases, as they do not always hold passports as normally required for real estate purchases in Turkey.
Palestinians can now buy land in Turkey with only travel documents.
However, with a new regulation brought into effect as of March 2019, Palestinians can now buy property and get a title deed in Turkey with their travel documents – Turkey is the first nation to offer such a scheme to Palestinians.
The new regulation has abolished the necessity for Palestinians to hold a passport, which often prevented them from investing in international and Turkish real estate. Palestinians are now free to purchase real estate in Turkey by using only their travel documents.
What is of immediate, great potential interest is that Palestinian foreigners who buy residential or commercial real estate in Turkey (including land) are eligible for a (family) residency permit regardless of how much they invest. They also qualify for Turkish citizenship if the real estate purchase is for a minimum value of 250,000 US Dollars . Emapark Real Estate believes that this opportunity will trigger a significant increase in investment inquiries, especially Palestinians from East Jerusalem. There are also many Palestinian business people globally who are savvy in business and recognize that Turkey offers a real and lucrative opportunity where prices have increased and preserved for many years.