The monthly rent for luxury apartments on the coast of the Mediterranean Sea exceeded $5,500 (100,000 lira) in the Turkish resort town of Antalya, where Russians went en masse after the Russian invasion of Ukraine and then the announced mobilization for a long trip. However, a record payment of $7,000 (130,000 liras) was recorded for an apartment in Lara, Antalya district. At the same time, property owners are often asked to make a one-time payment immediately one year in advance.
According to Hurriyet, another area that Russians love so much in coastal Antalya is Konyaalti. There, too, rental price tags “flew” into space. For example, there are often offers to shoot for $7,100 (125,000 lire).
However, it was not only the Russians who fled to the Turkish resort and ensured the rise in rental property prices but also the Ukrainians. As the publication noted, the latter immediately after February 24 preferred to come to Turkey, which they considered more reliable and settled in Antalya, where they often vacationed as tourists before. Some of the Ukrainians who came with their families moved in with relatives, while those who had a high income either bought real estate or rented it out. With the onset of real estate mobility in the coastal city, both rents and purchase prices have increased significantly.
Thus, the rent for housing in the city, which until February was only $140-160 (2.5-3 thousand liras), has increased many times with the arrival of Ukrainians – by more than $1,000-2,000 (20-40 thousand liras). At the same time, the rent for the year must be paid in advance. And after the announcement of mobilization in Russia, several Russians flocked to the resort. As a result, Turkish Antalya became a refuge for Ukrainians and Russians. Immediately after the September wave of the Russian emigration, which ensured a booming demand for real estate, monthly rents for luxury beachfront apartments in the city exceeded $5,000 (100,000 lire). In the real estate ads, you could find apartments in the Lara and Muratpaşa area costing $6,500 (130,000 liras) and requiring a deposit of $14,000 (260,000 liras), while for a luxury apartment in Konyaalti, monthly rent in the form of $6,000 (125,000 lire) and a deposit in that amount. At the same time, a prepayment for 1 year’s rent is charged for both luxury apartments.
Prices fluctuate at an astronomical level
It is noteworthy that if the price tag begins to rise in one area, the neighboring ones also experience multiple increases in price. Ismail Çaglar, president of the Chamber of Realtors, Car Dealers, and Business Followers of Antalya, also appreciated the recent cosmic increase in real estate prices in the city. According to him, the cost of rent increased by 200% in just one year. “Many migrants from all countries of the world came to our Antalya. After the start of the war in Ukraine, this situation worsened even more. The main reason for the increase in prices is that foreigners, whom we call “lieutenants”, deal in unregistered real estate. Both the Turks and our state are suffering. Here, they did not pay taxes, increasing housing prices. Citizens of Turkey, who saw this, saw the high price of apartments in the neighborhood, and then raised their prices. This is why real estate prices fluctuate at astronomical levels. We need to do an audit. We real estate agents earn real estate commissions of 2% from the buyer and 2% from the seller. They get a 10 percent commission from people who speak their native language, and no invoices are issued,” he explained.
20-40 thousand hryvnias (10-20 thousand liras) – the cost of renting ordinary apartments in Antalya
According to the representative of realtors, the prices for ordinary furnished houses in Konyaalty and Muratpasha are 30-45 thousand hryvnias (15-20 thousand liras), and empty ones – from 20 thousand hryvnias. up to UAH 40,000 (10-15 thousand lire).
“I submitted these issues to the parliament in written and oral form. This should be investigated and a reasonable price assigned. When for a house worth 20 thousand UAH. (10,000 lire) asking for 30,000 hryvnias. (15 thousand lire), a criminal case should be initiated. Nothing can be done now because it is a free market. They say that they raise prices because they make the interior of the houses luxurious. Some sections of the population also do not want to rent out their homes to Turkish citizens, depending on the setting and luxury of the interior. They want to sell their houses at higher prices. Prices for some apartments near the beach exceeded $5,000-7,000 (100-125 thousand liras). The chances that our Turkish citizens will live here are zero. The real estate is rented out to a stranger,” he added and emphasized the need for the authorities to control prices since the current situation and the influx of Russians and Ukrainians are primarily affecting the residents of Turkey.