After the announcement of the results of the presidential elections in Turkey, the real estate demand of Russians in the country increased by 20-50% compared to the week. In this respect writer Kommersant newspaper.
According to Turkish authorities, in April, Russians bought 817 houses in Turkey, which is 30% less than in March and 29% less than in April 2022. After Recep Tayyip Erdogan won the elections, demand began to pick up, including from existing clients of local real estate companies.
Experts interviewed by the newspaper stated that before the announcement of the presidential election results, the Russians were in a state of uncertainty and that some statements of the presidential candidates confused them. For example, Kemal Kılıçdaroğlu talked about his plans to stop issuing Turkish passports to foreign investors. He also wanted to support anti-Russian sanctions.
Experts said that especially high-budget customers started to demand Turkish real estate. The average weekly demand budget increased by 48% to €145,000 per lot. Also, the number of people interested in buying real estate in Istanbul with €390,000-465,000 checks has increased. Experts have assumed that Russian demand for real estate in Turkey will remain stable during the summer months.
Erdogan won the second round of the presidential elections held on May 29 with 52 percent of the votes.