INSUBCONTINENT EXCLUSIVE:
Russian nationals continued to be the top foreign buyers of property in Turkey in December 2024, a ranking they have held since April
Russian nationals bought 438 residential properties in Turkey
the markets of Turkey and the UAE.In total, Russians purchased 4,860 properties in Turkey in 2024
Despite remaining the top foreign property buyers in the country, this is 53.9% less than in 2023 (10,560), as well as 70.1% less than the
record year of 2022 (16,310) and 9.5% less than 2021 (5,370).Demand is expected to continue to decline in 2025.Analysts surveyed
inflationary pressure and depreciation of the national currency.In addition, the market could have already been maxed out by those Russians
seeking to obtain Turkish residency permits, while the rules for granting the permits have also been considerably tightened.The weakening of
the Russian ruble in 2024 has also made moving to Turkey less attractive than in 2023.This article was originally published by bne
