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Russians Still Buying Real Estate in Turkey

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Russians Still Buying Real Estate in Turkey
Nova Property

The tensions experienced between Turkey and Russia have not been reflected on the real estate investments undertaken by the Russians in Turkey. Russians are continuing their real estate investments in Turkey, with Antalya leading the way.

Ebubekir Sevimli from 1APlus, who made statements to a correspondent from the AA on the subject, said that despite the crisis between Turkey and Russia having a negative impact on many sectors, the situation in the real estate sector was different.

Ebubekir Sevimli, 1A Plus Real Estate
Ebubekir Sevimli, 1A Plus Real Estate

Sevimli stated that Russian citizens were mostly choosing Antalya for their real estate purchases and said, “In the assessment we have made with the data of the Turkish Statistics Authority (TUIK), we saw that the city where the highest number of residential properties were sold to foreigners between 2013-2015 was Antalya. While the number of residential properties purchased by foreigners in Antalya in 2015 was around 6 thousand 112, between 30-35 percent of these was sold to Russian citizens.”

Sevimli, who emphasized that Russians had purchased 1.886 residential properties in 10 months within the year, stated that Antalya among the leading cities of the country in terms of tourism, real estate and construction, and that therefore the properties purchased by foreigners were continuously rising in value.

Russians say they will continue to invest

Sevimli underlined that the real estate sector had not been affected by the tensions experienced between the two countries.

Sevimli, who drew attention to the fact that the interest of the Russians in Turkey was continuing, said, “The number of Russian citizens who are planning to sell their properties and return as a result of the crisis is so low as to be completely insignificant. Russians who have settled in Antalya are extremely happy to live here, and will continue to invest in Antalya.”

Sevimli stated that despite the ban on selling tour packages to Turkey in Russia, the Russian people had not turned their backs on Antalya, and that they were continuing to come to the city for a holiday with their own means, and said, “We believe that after a little while the situation will calm down and that many more Russian citizens will be able to come to Antalya, with which they are veritable in love, with ease.”

The interest of Russians in Turkey will not fall due to political incidents

Mustafa Baygan, ERA Real Estate
Mustafa Baygan, ERA Real Estate

Mustafa Baygan from ERA Real Estate stated that they had not seen a big fall in the demand for real estate of the Russians.

Baygan, who stated that there had also been no fall in tourism, stated that Russians loved Turkey very much.

Baygan said, “Their interest in Turkey will not fall due to political incidents. Even if there was a small fall at the beginning, we can easily say that Russians have not interrupted their real estate investments in Turkey. The demand which is being received shows this. The demand for residential property of Russians in Turkey is being concluded at great pace, and this is an opportunity for them. We can easily see from the requests coming into our offices that the Russians have not turned their backs on Turkey and that they have not interrupted their real estate investments.”

They are buying at the same rates as they were before

Gökhan Taş from Coldwell Banker said that they were providing an intensive service to Russians in and around Antalya and that they had not seen any decrease in demand in their offices here.

Gökhan Taş, Coldwell Banker
Gökhan Taş, Coldwell Banker

Taş saying, “There was never a situation where Russians wanted to sell their properties in Turkey,” stated that the incident where the aircraft was shot down had not reached the dimensions whereby the real estate market would be affected.

Taş added, “There has been a fall in demand from the Russians for the last 2 years – that is to say, before the aircraft crisis. The reason for this is the economic crisis in Russia. They are in a period of serious economic difficulties. For example, it is not that Russians were buying 10 thousand apartments a month and this has fallen to one thousand after the aircraft crisis. Russians are buying the same number of properties now, as they were before the aircraft was shot down.”

Moderate statements have reduced the tension

Haluk Sur, Gyoder
Haluk Sur, Gyoder

Haluk Sur, the deputy chairman of GYODER, made a reminder that the official figures for the period after the beginning of the aircraft crisis with Russia had yet to be announced, and said, “Together with this, the tensions have started to fall with the moderate statements made both by the government of the Republic of Turkey and the state of Russia, and my belief is that there are no tensions in the bilateral relations.”

Sur, who emphasized that even if the tensions did cause fluctuations, the interest of Russians in Turkey would not fall, and added that the fact that the company Marashtroy, the Russain partner of Limak, which operates in Russia, had reached the final in the tender for Sheremetyevo International Airport – the gateway to the Russian capital Moscow – was an indicator of this.

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