The Turkish Lira has been in free-fall. It’s not a pretty sight.
Seeing this you’d think that real estate in Turkey would have been a terrible investment.
Actually, prices have gone up faster than inflation, so investors have been making money, and prices are even up in USD terms.
This means that people who bought at least $250,000 worth of Turkish real estate not only received free Turkish citizenship for themselves and their families, but also made a profit in the process.
Past performance is not a predictor of future performance
Maybe this is the case because investors who sat on piles of cash in Liras decided to quickly invest in property as inflation started kicking in, and as people stopped selling. This could be a one-off effect as cash savings get depleted.
Looking at the bigger picture though, it could also be demonstrative of the USD and its devaluation. Trillions in printing and skyrocketing inflation are not very bullish long-term for Western currencies.
My point is that the time to obtain a second citizenship is NOW
Seeing how quickly Western countries now “cancel” a whole country and its people, it’s time to act. Who knows, you might get cancelled next for whatever one of your politicians does, or for something you post on social media.
If you can afford it, and are comfortable with Turkey risk, then the Turkish CBI is probably the best programmes out there. It can also be done entirely remotely.
Watch this video I did 10 days ago with Keith in Istanbul. We discussed the latest market developments and he showed me a property one of his clients recently bought and that he is in the process of renovating.
Watch the video here.
If you are interested, do read this analysis of the real estate market in Istanbul (here).
Get in touch with Keith here.
If you want to buy another passport, such as a Caribbean passport, a Montenegrin one, or one of the little-known programmes that are not openly advertised, do get in touch with the team firstname.lastname@example.org.
The minimum price for these passport-by-donation options is $100,000 + legal fees.
Other articles on Turkey:
- Making a Real Estate Investment in Istanbul, Turkey – Overview and what to watch out for
- Citizenship by Investment in Turkey – Timelines, fees, and traps to avoid
- Don’t fall for this Real Estate and Citizenship trap in Turkey
- Investing in a city of 15 million, with decent yields – and get a free passport
- One of the world’s easiest second residency programmes -Turkey
- Are all new buildings in Istanbul a bad investment? Istanbul Real Estate December ’21 update
Available services in Turkey:
If you want to discuss your internationalization and diversification plans, book a consulting session* or send me an email.
*a consulting session is a discussion about your portfolio and objectives. It does not constitute legal, financial, tax or investment advice.