Why are more Russians buying property in Turkey?

Why are more Russians buying property in Turkey?

Why are more Russians buying property in Turkey?

Russians are among the top five most active foreign real estate buyers in Turkey. According to the Turkish Statistical Institute (TurkStat), nearly 1.35 million housing units were sold in Turkey last year. Of those sales, at least 45,500 houses and apartments were bought by foreigners, marking a 14.7% increase from the previous year.


For the first time, Russians were among the most active buyers of Turkish property. Russians accounted for 2,893 property sales. The only two demographics purchasing more property than the Russians were Iraqis and Iranians, with 7,596 and 5,423 sales, respectively. Nexr year Russians bought 26% more apartments and houses in Turkey than in before.


Real estate experts attribute the increase in Russian sales to low prices. The depreciation of the Turkish lira provided many Russians the opportunity to purchase Turkish property.


As a rule, Russians choose properties located near the sea. Russians have also been drawn to Turkey for its warm climate. Many Russians appreciate that swimming season in Turkish resort areas can last from May till November. The Turkish climate annually attracts millions of Russian tourists, so it is logical that some have decided to buy property. On top of that, Russians can travel to Turkey visa-free, and low-cost flights are always available from many Russian cities to Turkey.

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