Turkey changed the property valuation process used for citizenship by investment on 28 September 2026. The changes affect who can prepare valuation reports, how long a Tutar Tespit Belgesi (TTB) remains valid and how properties owned by real estate investment trusts (GYO) are treated.
The changes are important for foreign buyers using property to apply for Turkish citizenship, but they do not reduce the minimum property investment requirement. The current requirement remains at least US$400,000.
This article explains the September 2026 changes and how they affect buyers. For the wider eligibility rules, see our 2026 Turkish citizenship property requirements guide.
What changed in September 2026?
Turkey’s General Directorate of Land Registry and Cadastre (TKGM) announced changes to Circular 2024/4 on 29 September 2026, following an administrative approval dated 28 September 2026.
The changes affect several parts of the valuation and TTB process used when property is purchased for Turkish citizenship.
The key changes
- Any SPK-authorised valuation company can now prepare the valuation report used for the TTB process.
- The TTB validity period is now 12 months.
- GYO-owned properties are subject to a revised valuation procedure.
- The minimum property investment requirement remains US$400,000.
Buyers can now use any SPK-authorised valuation company
One of the clearest changes concerns who can prepare the property valuation.
Under the updated system, the valuation report on which the TTB is based can be prepared by any valuation company authorised by Turkey’s Capital Markets Board, known as the SPK.
This replaces the previous GEDAŞ-based arrangement and gives buyers and their representatives greater flexibility when arranging a valuation.
The report still forms part of the official TTB process. The TTB is generated through the relevant TADEBİS, TAKBİS and WebTapu systems and is used to confirm the property investment value accepted for the citizenship transaction.
For a more detailed explanation of this document, see our guide to Turkish citizenship valuation reports and the TTB process.
TTB validity has increased to 12 months
The updated TKGM guidance states that a TTB is valid for 12 months from its date of issue.
This is a useful practical change for citizenship buyers because the period between obtaining the TTB and making the relevant citizenship-related property application can now be up to 12 months. If more than 12 months passes before the application, the valuation report underlying the TTB must normally be renewed.
There is an important distinction for completed transactions. TKGM states that where the property transaction was completed using a valid TTB, a later citizenship undertaking does not necessarily require the TTB to be renewed simply because 12 months have subsequently passed.
GYO properties now follow a different valuation procedure
The treatment of property owned by a gayrimenkul yatırım ortaklığı (GYO), or real estate investment trust, has also changed.
From 28 September 2026, a GYO selling property for citizenship purposes must generally follow one of two routes.
- The GYO can provide an existing valuation report prepared before the land-registry transaction in accordance with the regulations governing the GYO, provided that the report has been published through KAP and includes the value of the relevant independent unit.
- A new valuation report for the TTB can be requested through WebTapu/TADEBİS.
Where the existing KAP-published GYO valuation is used, TKGM’s current guidance states that the matter is referred to the Foreign Affairs Department (Yabancı İşler Dairesi Başkanlığı) during the citizenship investment review and the transaction proceeds according to its response.
This is particularly relevant to citizenship buyers because GYO-owned developer property has historically been common within the Turkish citizenship property market.
Has the US$400,000 citizenship requirement changed?
No. The current minimum property investment requirement remains US$400,000.
TKGM’s current guidance states that the sale price declared in the official deed or qualifying preliminary sale contract and the documented property payments must separately satisfy the applicable US$400,000 requirement. These amounts must then be confirmed through the TTB process.
Valuation rules and the investment threshold are not the same thing
The September 2026 changes concern the valuation and TTB process. They should not be interpreted as reducing the Turkish citizenship property investment threshold from US$400,000.
A lower underlying appraisal figure does not by itself mean that an investor can purchase a property for less than US$400,000 and qualify for citizenship.
What about the reported 25% valuation allowance?
Some professional and legal commentary around the September changes refers to a system calculation under which an amount above the underlying valuation can be recognised when determining the value used within the citizenship valuation process.
This has sometimes been described as adding 25% to the appraised value. It can create confusion because a simple calculation would suggest that an appraisal of US$320,000 becomes US$400,000 when multiplied by 1.25.
However, this should not be interpreted to mean that the Turkish citizenship investment requirement has fallen to US$320,000.
Current TKGM guidance continues to state that the amount declared for the property transaction and the documented payments must each satisfy the US$400,000 requirement. The TTB then confirms the acceptable investment value for the citizenship process.
For buyers, the practical point is simple: do not structure a citizenship purchase on the assumption that a property can now be bought for US$320,000. The purchase price, payment evidence and TTB should be reviewed together before committing to a property.
What does the new system mean for citizenship buyers?
The changes should make parts of the valuation process more flexible, particularly because buyers are no longer restricted to the previous valuation-company arrangement. The 12-month TTB validity period also provides more time between valuation and the relevant application.
At the same time, the revised treatment of GYO property means buyers should not assume that a developer’s corporate status automatically removes the need to consider valuation requirements.
| Issue | Current position | What it means for buyers |
|---|---|---|
| Valuation company | Any SPK-authorised valuation company | Greater flexibility when arranging the valuation |
| TTB validity | 12 months | More time between the TTB and citizenship-related application |
| GYO property | Revised valuation and review procedure | GYO status should no longer be treated as a simple valuation exemption |
| Minimum investment | US$400,000 | The citizenship investment threshold has not been reduced |
What should buyers check before paying a deposit?
Citizenship eligibility should be checked against the specific property and transaction structure before a buyer commits substantial funds.
- Confirm that the property itself can be used for a citizenship application.
- Check how the property will be valued and how the TTB will be obtained.
- Ensure the declared transaction value and documented payments satisfy the citizenship requirement.
- For GYO-owned property, establish which valuation route will be used.
- Coordinate the valuation, payment, DAB and land-registry process before completion.
The valuation is only one part of the transaction. Buyers should also understand the Döviz Alım Belgesi (DAB) requirement and the subsequent Certificate of Conformity process.
Does this make citizenship property easier to buy?
Procedurally, some aspects are more flexible. The ability to use any SPK-authorised valuation company and the longer TTB validity period should make the valuation stage easier to organise.
That does not mean every property priced above US$400,000 is suitable for citizenship. The property, seller, transaction history, valuation, payment structure and title-deed process still need to satisfy the applicable requirements.
This is why Pera treats citizenship eligibility separately from ordinary property value. A property can be a good Istanbul investment without being suitable for citizenship, while a property marketed for citizenship should still make sense as a real estate purchase in its own right.
You can also see the wider process in our Turkish citizenship by investment timeline.
Looking for citizenship-eligible property in Istanbul?
Pera Property can help you identify suitable Istanbul property and coordinate the transaction with the valuation, payment and citizenship requirements in mind. We focus on the property first and verify the citizenship route before you commit.
This article is for general information about property transactions and does not constitute legal or immigration advice. Citizenship applications and individual transactions should be checked against the rules and administrative practice applicable at the time of application.
