The ongoing war has led the citizens of the two countries involved to buy housing in Turkey.
The ongoing war between Ukraine and Russia has led the citizens of the two countries to buy housing in Turkey. Recently, many companies, especially Russia-based, are causing them to move their offices to Turkey in order not to be affected by the embargo. At the same time, Russian companies, which have started to enter the tourism sector by buying hotels, are also looking for housing for their white-collar employees.
“There are companies that change from retail to logistics” Ömer Faruk Akbal, President of the Real Estate Overseas Promotion Association (GIGDER), said, “Russia, which is among the largest economies in the world, has difficulty in conducting its commercial operations and exporting when it is exposed to sanctions with the war. In order to overcome these difficulties, some of them came to Turkey and opened offices and branches. There have been arrivals in a wide range of areas ranging from retail to logistics.” On the other hand, some international companies operating for Russia have also opened offices in Turkey, Akbal said: “They will carry out at least 1 year of operations from Turkey. So came the white-collar workers. There are companies that ask us to find apartments for these employees.”
Living in Izmir became very attractive for Russian citizens. The majority of property buyers prefer it over the hectic metropolis of Istanbul. The fact that Russian companies are looking to establish in the industrial harbor city, causes a high demand in Izmir properties. Property for sale in Izmir can be more affordable in comparison with Istanbul. Izmir apartments for sale can be found in “A” locations from $ 200.000 up to $ 500.000 for more luxurious projects. For these reasons real estate in Izmir is experiencing attractive capital gains on a yearly basis.