Russian investors spent 70 million USD on houses in Turkey

From January to May 2021, the demand for real estate in Turkey showed a record growth. For example, in April of this year, compared to the same month in 2020, sales in the country increased by 124%. Residential and commercial properties in this region are especially popular among foreign investors. Russians are in second place in the list of those wishing to acquire real estate in Turkey, second only to the Bulgarians. Most often, housing is bought in coastal areas, Istanbul and Alanya.

Real estate statistics in Turkey

Speaking about specific numbers we can note the following data:

• in April of this year, Russians bought more than 400 real estate objects in Turkish cities - the total cost was almost 21 million US dollars;
• since January, more than 1.3 thousand objects have been purchased for the amount of almost 70 million USD.

The average cost of real estate in Turkey during this period was 49000 USD.