The Turkish real estate market is predicted to increase sales at the expense of Russians

Турецкому рынку недвижимости предсказывают увеличение продаж за счет россиян

The international luxury real estate network Barnes International Moscow analyzed the situation on the housing market in Turkey and came to the conclusion that demand from Russian citizens will grow 1.5 times this summer.

From April to May 2023, investor demand fell markedly. The reason was the presidential election, on which the property policy for foreigners depended.

In June-August, analysts predict an increase in demand, and expect that sales will amount to about 1,500 objects per month. This is due to the results of the elections, where Recep Tayyip Erdogan took over the post of head again.

Potential buyers calmed down, realizing that there would be no severe restrictions on the real estate market for them.

Turkey remains one of the few alternatives for our fellow citizens, so the defeat of the opposition, which promised to impose serious restrictions on foreign buyers of real estate and even curtail the passport program, will spur them to return to the Turkish market,” said Denis Perkovsky, head of the foreign real estate department at Barnes International Moscow.

However, Barnes still allows for possible changes in the rules for buying real estate for foreign buyers. Experts do not exclude that restrictions may be imposed in regions popular with Russians.

For example, an increase in the investment threshold or the cancellation of a tourist residence permit on the basis of a lease. Now there are no innovations, there were no announcements in official sources either.

Therefore, to obtain a residence permit for the purchase of real estate from 75 thousand. $ is still possible!

Also, the “Golden Passport” remains an actual program. Among the conditions: the purchase of an apartment or house with a cadastral value of $ 400 thousand.

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