Massive arrival in Turkey of Russians fleeing the mobilization ordered by Putin triggers demand for housing. No flights left from Russia to Turkey.
The number of Russians looking to buy or rent a house in Turkey has shot up 40% in just one week coinciding with Russian President Vladimir Putin’s announcement of a mobilization to fight the war in Ukraine.
Although since the beginning of the war the demand for housing by Ukrainians and especially Russians has skyrocketed in Turkey, representatives of the Turkish real estate sector say that in the last week the demand has grown by 40%. Normally the Russians who are arriving in Turkey first look for hotels or renting an apartment while looking for a house to buy, they add.
“What we are seeing now looks like a temporary migration. Russians mostly prefer tourist destinations on the Mediterranean or the Aegean coast, mainly in Antalya,” says Hakan Bucak, president of an Istanbul-based real estate company. Ümit Becer, a real estate consultant in Alanya (a popular destination for foreigners in Antalya), confirms the massive influx of Russians to the region.
“They are renting houses, and rents are growing again,” he says, explaining that the price of renting an apartment in the area, which had fallen from 12,000 to 8,000 liras a month in the previous weeks due to the drop in demand, has risen again: “Now the owners have raised the rents to 10,000 lira due to the new flow of Russians, and this has happened in the space of just one week,” he underlines.
No flights between Russia and Antalya until the end of October
In the first 8 months of 2022, foreigners bought some 45,000 homes in Turkey, 45% more than in the same period of 2021. Russians have been the main home buyers between January and August of this year, buying some 8,100 properties in Turkey compared to the 5,400 and 3,000 they had acquired in 2021 and 2020, respectively.
The increase in the number of Russians looking for a house in Turkey during the last week, also coincides with an increase in occupancy on charter flights between Russia and Antalya, according to representatives of the tourism sector, who confirm that there are practically no flights left between Russia and Antalya until the end of October, taking into account that there are 90 daily connections between Antalya and Russia. Other Russians who were already in Turkey on vacation are prolonging their stay in the country, and even enrolling their children in international schools in Turkey.
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When Monica finished her business degree, she had the idea to celebrate it travelling: that’s how she ended up visiting Turkey, and she liked it so much… that she decided to stay and live there! And she is still there, reporting from the city of Bursa on the latest news about the interesting Turkish economy.