Favorite Russian destinations for buying real estate in Turkey

Russians, choosing real estate for purchase in Turkey, most often focus on different types of properties. Popular options include apartments, villas, land plots, farms, as well as commercial real estate, including stores and large projects such as shopping centers, schools and hotels.

The main cities that attract the attention of Russians when buying real estate in Turkey include Istanbul, Antalya, Trabzon, Ankara, Bursa and Kocaeli. Also among the preferred destinations in Turkey are Avsallar, Alanya, Belek, Bodrum, Gazipasha, Izmir, Kalkan, Kemer, Kestel, Mahmutlar, Mersin, Side and Fethiye.

The main characteristics, of some cities that attract real estate buyers:

• Istanbul: is classified as one of the best options for owning real estate in Turkey due to its cultural value and importance for tourism and investment. It offers many real estate options with sea views, in the city center and near historical landmarks.
• Antalya: is known for its tourist popularity, especially among Europeans and Russians, due to its location on the shores of the Mediterranean Sea. It is characterized by beautiful nature and beaches, high return on investment in real estate.
• Trabzon: popular among Arab investors, known for its pristine nature on the Black Sea coast. Offers luxury apartments and villas at affordable prices.
• Ankara: owning a property in Ankara means being in the political center of Turkey. The city is rich in amenities and offers competitive real estate prices.
• Bursa: known as "Green Bursa" due to its charming nature and tourist location. It has good transportation links to Istanbul.
• Kocaeli: attracts investors with its proximity to Istanbul, pleasant nature and affordable real estate prices. It is a good choice for those with a limited budget.

The Turkish real estate market has significant potential due to active tourism, which increases demand for rental housing, as well as good geographical location, high construction rates and exports. Nevertheless, this market can be subject to fluctuations, for example due to seismic risks.

When choosing a property abroad, it is advisable to consider many factors, including taxation, compliance features in local banks, the possibility of international money transfers, and climatic features of the region that may affect the real estate market.

Why is Turkey so popular among Russians?

Turkey has become particularly popular among Russians for a number of reasons. First, a significant increase in interest in the Turkish housing market was triggered by the events of 2022, including restrictions on money transfers and sanctions from European countries. The COVID-19 pandemic also played its role: many people working remotely decided to move to a country with a mild climate, inexpensive accommodation and comfortable infrastructure.

In addition, the depreciation of the Turkish lira has made living and buying real estate in Turkey more affordable for Russians. The pandemic affected remote work opportunities and also strengthened pent-up demand, especially in 2020, when entry to the country was restricted. Turkey, being a traditionally popular destination for tourism, was open to Russians for most of 2021, which also contributed to its popularity.

Russians also appreciate in Turkey good service and relatively easy assimilation, as well as the fact that there are many Russian speakers. Turkey is a convenient place to travel to other countries due to its geographical location. Moreover, there is an investment citizenship program in Turkey, which allows you to obtain citizenship by investing in real estate.

Buying real estate in Turkey in 2023 offers a number of advantages:

• Affordable prices. Real estate in Turkey is usually more affordable compared to other European countries, which makes it attractive to investors.
• Visa Freedom. Buying real estate in Turkey can give the opportunity to obtain a residence permit, which is important for those who plan to move to Turkey.
• Developed infrastructure. Turkey offers a well-developed infrastructure with comfortable residential complexes, quality roads and entertainment facilities.
• Tourist Market. Turkey attracts a huge number of tourists, which creates the potential for renting real estate and generating additional income.
• Favorable climate. Turkey's Mediterranean climate makes it a great place to live and relax.
• Developing economy. Turkey is a country with a high potential for economic growth, which can bring good profits due to rising real estate prices.
• Cultural Diversity. Turkey, as a bridge between East and West, attracts people with its rich cultural heritage.

In addition, foreign nationals can buy various types of real estate in Turkey, including apartments, villas, land plots, farms, stores, and even participate in large projects such as shopping centers, schools, and hotels. Buyers can expect a high level of luxury at affordable prices, as well as the possibility of obtaining Turkish citizenship when purchasing real estate from January 2024 worth $600,000 or more.