Russians are actively buying up housing in Turkey: they are among the top three

Russians are actively buying up housing in Turkey: they are among the top three

Purchases of housing by foreigners in Turkey in April 2022 increased by 58 compared to last year % and amounted to 6.5 thousand. The Russians were actively buying up real estate and, following the results of the spring month, took second place.

According to the analytical center Turizm Data bank, about 4,000 people purchased Turkish housing in April last year. This is 1.5 times less than the current data. From the beginning of the year to April, purchases of residential real estate among foreigners increased from 14,000 to 21,000.

In January-April 2022, Iran took the first place in transactions: tourists bought 3,161 residential premises. The second place belongs to Russia (2.687), the third one belongs to Iraq (2.601). Behind the top three are Germany, Kazakhstan and Afghanistan.

As for the destinations that buyers chose to purchase real estate, Istanbul took the first place (8.538 sales). Then the resort province of Antalya – sold 5.417 units. The rating also includes Ankara, Mersin, Bursa, Yalova and Izmir. The demand for housing by foreigners, including Russians, in Antalya has grown by 97% compared to last year. Izmir, Samsun and Sakarya also recorded growth in excess of 100%.

According to the center, foreign tourists spent $867 million to purchase real estate in Turkey in 4 months. During the same period last year, they left $837 million in the republic. For comparison: in 2020 and 2021, when the pandemic was raging and countries were closed for lockdown, foreigners spent a record high on apartments and houses in Turkey: $2.3 and $3.7 billion, respectively.

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