The mass migration of Russians to Turkey led to a three-fold rise in housing prices in Antalya

Mass migration of Russians to Turkey led to a threefold increase in housing prices in Antalya

Mass migration of Russians who decided to wait out recent high-profile geopolitical events in the Republic of Turkey, has become a “trigger” for inflating housing prices in the coastal cities of the country. The Turkish media reported about the rise in price.

The interest of Russians to the Turkish coast was before, but because of the events in Ukraine, the demand began to go off scale. For comparison: after the start of the special operation, the demand of Russians for long-term rental housing in the main resort city of Antalya and neighboring Alanya has almost quadrupled. According to Just Real Prime Broker, rents in some one-room apartments and studios in Istanbul, Izmir, Bodrum and Fethiye have increased by 2-3 times to $1000-$1500 per month.

Tourists also complain that the acute shortage of offers has created problems: it has become difficult not only to find an apartment that the owners will rent out at an adequate price, but also that some landlords require a six-month advance payment. Given the new exorbitant prices, the amount for tourists will be tangible.

According to Turkish publications, in Armenia and Georgia, where Russians also prefer to leave en masse, the rent increased less, but also significantly hit the pockets of Russians – by 1.5 times. In Tbilisi, for example, the minimum price for renting housing has increased by 30-50 percent compared to February and now stands at $450-$500.

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