In 2022, Russians purchased 16,312 properties in Turkey, three times more than in 2021. This is reported by RBC with reference to analysts of the Kalinka real estate company, who processed the data of the Central Bank of the Russian Federation and the Turkish National Statistical Institute.
According to the Central Bank, the outflow of capital from Russia in 2022 amounted to $217 billion. Of this amount, more than $4 billion was spent by Russians on the purchase of housing in Turkey, the Kalinka report says.
Russians have been leading in terms of the number of transactions with foreigners in Turkey since April 2022. Thus, the share of Russian real estate buyers last year amounted to 24% of all such transactions with foreigners against 9% in 2021. In second place in 2022 was last year’s leader, Iran, its share decreased from 17% to 12%, and in third place is Iraq from 9% against 15% in 2021, the study says.
“In February, we note a significant decrease in the demand of Russians for real estate in Turkey due to a series of earthquakes and an increase in the time for customers to make purchase decisions. However, in the first days of March, we are already seeing a gradual recovery in demand and expect its gradual recovery, mainly in the segment of modern new buildings that meet all seismological requirements. At the same time, the demand for secondary housing will decline,” commented Pavel Timoshenko, general director of Kalinka Turkiye.
Source: Rosbalt
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