Russians are becoming increasingly interested in Turkey’s real estate as 16,300 houses and flats in Turkey were bought by Russian nationals in 2022, RBC concludes after studying the Turkish national statistics office data.
The number of real estate deals surpassed the results of the past six years combined, RBC notes. Between 2016 and 2022, Russians only bought 16,200 properties in Turkey.
Moreover, Russians reached the top spot among foreigners buying real estate in Turkey in 2022 for the first time with 24% of all deals signed (compared to just 9% in 2021). Iranian nationals come second, while Iraqis rank third.
Most properties bought by foreigners are located in Istanbul and Antalya as almost 25,000 and 22,000 deals correspondingly were recorded last year.
According to experts, Russians are taking the market by storm due to the possibility of getting a Turkish permanent residency and citizenship later.