As Some Britons Sell Property in Turkey, Russians Flock to Buy
According to reports in Turkey’s biggest selling English language newspaper ‘Today’s Zaman’, while some Britons are looking to sell property in Turkey, far more Russians are flocking to buy property in Turkey, reveals real estate portal House Sales Turkey (http://www.housesalesturkey.com/).
The leading Turkish daily newspaper ‘Today’s Zaman’ cites a local agent for real estate in Turkey, located in the popular tourist destination of Marmaris in southwestern Turkey, as saying that many British nationals are putting their property in Turkey up for sale, just as many Russians are streaming in looking to buy. The Anatolia news agency quotes Cartier Emlak’s Zülfikar Soyvural, a real estate agent who specialises in overseas purchases of Turkish property in the Marmaris area as saying “90 percent of British nationals residing in the district have put their houses up for sale and are planning to buy property back in the homeland for around the same price they could get in Marmaris”. However, he added that there is a significantly growing Russian presence of interested buyers.
Also quoted in the ‘Today’s Zaman’ article is Hasan Ateş, head of the Union of Marmaris Real Estate Agencies. According to Ateş, “We real estate agencies in Marmaris are feeling the impact of the European financial crisis more this year. So far, we have not sold a single property to a European client. Now they are selling their homes, some at lower prices [than they paid to buy them]”. What is saving Marmaris real estate agencies is the sudden proliferation of potential Russian purchasers looking for apartments, townhouses and villas in Turkey, including the Marmaris region.
The same phenomenon is being witnessed in other top tourist destinations around Turkey. Russians are making up a significant proportion of people interested in real estate in Turkey, both investor clients and private purchasers. As House Sales Turkey previously reported, the Russian overseas property magazine International Residence carried out a survey at Moscow’s leading property show in March of this year. The findings revealed that Turkey was the third most popular country among Russians looking to purchase overseas property, with Bulgaria coming first and Spain coming second.
Given that The Turkish Ministry of Culture and Tourism has predicted as many as 1 million more Russian tourists will visit Turkey this year (when over 3 million Russian tourists travelled to Turkey last year), it could be that Russian purchasers will bolster real estate in Turkey for some time. To view the latest property listings in Marmaris and all over Turkey, go to http://www.housesalesturkey.com/.
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