Experts say: The Russians previously preferred to buy real estate in Spain, Bulgaria and Italy, but interest is now declining, and the current primary destination is buying property in Turkey.
Russian requests for real estate in Spain in 2018 accounted for more than a third of foreigners ’requests to the Spanish market, while Russian requests in 2019 declined to 18.4% in Spain and Russians have moved more and more towards the property for sale in Turkey.
In comparison with Georgia, there has also been a noticeable decrease in the demands of the Russians on the Georgian real estate market, and since 2018, the share of the Turkish real estate market from the requests of the Russians has grown between 300% to 500% compared to requests in Georgia.
The highlight of the event is that in the Russian state, the popularity of Turkey real estate has jumped from fourth to second in terms of turnout and demand.
In 2019, approximately 1.35 million properties were sold in Turkey. The share of foreigners was approximately 46,000, which represents an increase of 14.7% over the previous year 2018.
For the first time, the Russians were among the most active buyers in the Turkish real estate market in 2019, and the largest number of real estate owners were respectively: Iraq - Iran - Russia, where their sales respectively reached: 7596 - 5423 - 2893, and in 2018 the Russians bought real estate at an estimated rate of about 26%.
In 2019, Turkey reduced the amount of obtaining Turkish citizenship by issuing a decree to buying property in Turkey from $ 1 million to $ 250,000, which made the demand for Turkish real estate market increase.
Polina Kulishova, the director of public relations for a real estate investment company, said: “Turkish citizenship provides two important advantages: visa-free access to Singapore and Japan and the possibility of obtaining US citizenship after obtaining the Turkish citizenship through an American investor visa.”
In 2019, during the visit of Turkish President Recep Tayyip Erdogan to Moscow, it was announced that 2019 is the year of tourism to increase the number of Russian visitors to Turkey and vice versa where Russia ranked first with 7 million Russians, and that is equivalent to 14% of the total number of tourists who came to Turkey.
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