Data from the Turkish Environment and Urban Planning Ministry shows record numbers of overseas buyers have purchased property since the law change, and at the top of the list are Russians, who have bought 2,313 properties in the last year.
Russians were followed by Brits and Germans. Other countries with a high interest in Turkish real estate are Norway, Sweden, the Netherlands and Belgium.
Katya Gruzina, from St Petersburg, bought a villa in Kemer, near Antalya City, in 2011.
“Turkey is very popular with Russians because of its reputation for good package holidays and some friends convinced me to come along with them for a holiday to Kemer. I had been thinking about buying a small place in Bulgaria but I instantly loved Kemer and just thought ‘that’s it, why wait?’ and I bought somewhere at the end of the holiday.”
Like most of her fellow Russians, Katya’s main priority for a holiday location is a beach. “Kemer has some wonderful beaches, and if you can hire or a car or want to get the bus there are some amazing beaches a little further away.”
The investment and rental angle helps, too. Many Russians use their holiday homes to earn extra income. When Katya’s not holidaying in her villa she rents it out. “At first I was renting it for the summer months but in the last year there have been more people wanting to rent off season,” she said. Property in Antalya is rising in value by around 10% each year, another plus for Russian buyers.
Three million Russians visit Turkey each year, spending around three billion dollars.
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