Russians Invest in Turkish Real Estate

The President of TM Real-estate administrative board, Beyhes Yuksek, said that they already sell real estate to residents of 44 countries and they were glad that Russia will now be participating in the law. Yuksek stated that after the law; demand for real estate exploded and they have received many inquires by email. He said, "We had entered into the Russian market before, but the previous laws were blocking us. With the introduction of the new law demand has increased."

Yuksek cautions that it may have some negative consequences such as decreasing the purchasing power of locals by driving up prices. Yuksek stated that Russians obtain real estate mostly for vacation and they research every thing to the tiniest detail. Yuksek said that their Russian customers generally prefer real estate worth between 50-100 thousand dollars.