What Future for Russian Property in Turkey?

Moscow, Russian Federation, December 15, 2015 (Newswire.com) - In this interview, Maria Zharaya, Tranio real estate director in Turkey, explains how the local real estate market has been affected by the shooting down of a Russian fighter jet on the Turkey–Syria border last month.

Key aspects:

            •   Crisis delays Russian real estate purchases 

            •   Russian budgets drop to €100,000 on average

            •   Main fears include local attitude and property rights risks

            •   Residence permit applications by Russians increase

“Clients who were planning to buy property here within the next two months delayed the purchase and are waiting for the situation to develop. It cannot be said that potential clients abandon the idea for good – they still want to buy property and have a second home in Turkey but a few definitively decided not to buy real estate in Istanbul. We are still expecting buyers for viewings during the next couple of weeks despite everything. Their main concern is that regular direct flights to Turkey will be cancelled as were charter flights recently.” 

Maria Zharaya, Director of Tranio in Turkey

To read the full interview, just click here. 

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