The mass migration of Russians who have decided to flee the latest high-profile geopolitical events in the Republic of Turkey has become a “trigger” for rising housing prices in the country’s coastal cities. The trip was reported by Turkish media.
Russian interest in the Turkish coast has been there before, but due to the war in Ukraine, demand has skyrocketed. For comparison: after the beginning of the Russian invasion, the demand of Russians for long-term rental housing in the main resort town of Antalya and neighboring Alanya has almost quadrupled. According to Just Real Prime Broker, rents of $ 200- $ 600 in some one-bedroom apartments and studios in Istanbul, Izmir, Bodrum and Fethiye have doubled to $ 1,000- $ 1,500 a month.
Tourists also complain that due to the acute shortage of offers there were problems: it became difficult not only to find an apartment that owners will rent at an adequate price, but also the fact that some landlords require a six-month advance payment. Given the new sky-high prices, the amount for tourists will be significant.
According to Turkish media, in Armenia and Georgia, where Russians also prefer to go en masse, rents have increased less, but also hit the pockets of Russians – 1.5 times. In Tbilisi, for example, the minimum rental price has risen by 30-50 percent compared to February and is now $450- $500.