Russian interest in purchasing housing in a number of Turkish regions in 2020 more than tripled compared to 2019, according to an article published on portal overseas property Tranio. Experts explain the surge in interest in Turkey by the active development of the teleworking format and low prices for apartments and houses in the country.
According to analysts, the desire to buy exactly Turkish housing in 2020 was also due to the “coronavirus” factor: Turkey’s main competitors in the international real estate market – Spain, Bulgaria, Italy – kept and still keep their borders shut, while Turkey reopened relatively quickly after the first wave of COVID-19 in the summer of 2020.
In addition, online real estate purchase is possible in Turkey. “Buying real estate in Turkey is not only a profitable investment of capital, but also an opportunity to earn money,” experts explain. “Many foreign buyers buy apartments in new residential complexes and rent them out, earning passive year-round income.”
According to experts, in Alanya, popular among tourists, a two-room apartment can be bought for 50 thousand euros, it will be rented out at a rate of 250-300 euros per month. Taking into account all expenses (tax on rental income, annual property tax, apartment maintenance), the yield is about 4 percent per annum.
Tranio also points out that buying real estate in Turkey with a value of $ 250,000 or more allows you to obtain citizenship. Russian buyers are also attracted by the fact that a large number of people from the post-Soviet countries live in the country.
Earlier it was reported that at the beginning of 2021, Russian demand for real estate rental in Turkey increased sharply. According to analysts, Russians rushed to rent housing in the country in January – in a month they submitted 47 percent more applications to search for rental apartments in Turkey than in December 2020.
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