Radisson Blu Hotel & Residences Izmir Bornova: Eligible for Turkish Citizenship, Minimum 8% Net Income with Upside Sharing
Why this matters
"Eligible for citizenship" is a common claim in this market, but it's easy to gloss over the fact that the legal application process itself is a separate, self-funded track. Stating that plainly up front avoids a nasty surprise for a buyer who assumed citizenship paperwork was bundled into the purchase.
Project details
Only 27 residences (plus 200 non-for-sale hotel rooms) inside a 5-star Radisson Blu hotel in the new city-center district of Bornova, Izmir — Turkey's third-largest metropolitan area. Opening: August 2026. Starting price: $400,000. Title: full condominium ownership (kat mülkiyeti tapusu).
Usufruct (rental management) program — the mechanics, not just the headline "8%":
- 20-year term, running 2026–2046. Joining later means only the remaining years are covered.
- 50% of net rental profit (after operating taxes) is paid to the owner quarterly.
- For the first 5 years of the program, a minimum net income of 8% of the property's net sale value is guaranteed — if 50% of actual net profit exceeds that 8% floor, the owner is paid the higher amount, not capped at 8%.
- Payouts are fixed in USD or EUR at the exchange rate on the date of sale, quarterly.
- Owners can still personally use their unit for at least 1 month per year (3 months' written notice), with the stay cost deducted from the usufruct payout.
- Exit is allowed anytime with 6 months' written notice; the unit can also be sold at any time through AKVO GY on free-market terms.
Costs the owner is responsible for: property tax (in full), and a share of title registration costs (split buyer/seller). Units under an active usufruct agreement are exempt from utility and service-fee (aidat) charges during the agreement term. Rental arranged outside the usufruct program carries a 12% commission on annual rent.
Turkish citizenship eligibility: confirmed by the developer as meeting current investment-based citizenship criteria — but legal services for the citizenship application are not included and must be arranged independently.
Frequently asked questions
Is legal help with the citizenship application included in the price?
No. The developer confirms the property meets the investment threshold for Turkish citizenship eligibility, but explicitly states that legal services for the citizenship application process are not provided or included — investors need to arrange independent legal counsel.
Is the 8% rental income a hard cap, or can I earn more?
8% is the guaranteed minimum for the first 5 years of the usufruct program, not a cap. You receive 50% of actual net rental profit each quarter, and if that exceeds the 8% floor, you're paid the higher, actual amount.
Can I still use my own apartment if it's in the rental program?
Yes — owners under the usufruct agreement can request personal use of their unit (minimum one month per year, three months' written notice), with the stay cost deducted from that quarter's payout.