Bayram Tekçe, the founder and the chairman of Tekce Overseas Gayrimenkul AŞ and Vice President of the Turkish Real Estate Overseas Promotion Association (GİGDER), has given an interview on Chinese Central Television (CCTV) about the rapidly increasing interest in Russian real estate investors to Turkish properties.

The news broadcasted on CCTV firstly points out the sharp increase in the Russian investors’ demand for real estate in Turkey. The exceptional increase in demand is explained in detail by showing the statistical data released by the Turkish Statistical Institute (TÜİK) this month.

The statistics indicate that the number of properties purchased by Russians in Turkey from the start of this year to July increased by 223,4% compared to the same period of the last year. The news also mentions that Russians topped the foreign property sales rankings for the first time since TÜİK started releasing statistics on property sales in 2015.

Bayram-Tekce, Interview, reportBayram Tekçe is interviewed as the chairman of the leading real estate agency of Turkey Tekce Overseas and as the vice president of GİGDER on what may have caused this exceptional increase. Mr. Tekçe states the economical sanctions imposed on Russia by the western countries are likely to be the main cause of this exceptional increase.

“Since the western countries’ sanctions against Russia began in March this year, the demand of Russians to buy houses in Turkey is 6 times higher than the average level in the past” expresses Mr. Tekçe. He continues on to say, Turkey has always been a popular place to buy a house for Russians, however, this situation naturally skyrockets the demand in Turkey because Russians feel financially insecure in Europe.

The economical sanctions imposed on Russia certainly makes Russian citizens’ life in Europe financially harder. Russian citizen Yulia who just bought a house in Antalya through Tekce Overseas expresses her thoughts on the subject “I wanted to move to Italy or Spain, I like these countries. But what is happening now is that we as Russians are simply not welcome in Europe.”

According to Mr. Tekçe and many other real estate agents, the demand of Russians for properties will continue to shift from Europe to Turkey as more people feel they are not welcomed in Europe.

You can read the full article on the news or watch the broadcast video for detailed information.