Ukrainians fleeing the war invested their money in housing in Antalya

Ukrainians who came to Antalya due to the Russia-Ukraine war rent an apartment for 20-40 thousand liras per month and pay annually in cash.

In March 2022, Russian house purchases increased by 30 percent year on year, while the increase in Ukrainians reached 80 percent.

Antalya comes after Istanbul in the list of preferences of Iranian, Iraqi and Russian citizens who invest in real estate in Turkey.

While the Russians in particular showed interest in Antalya due to the long tourism season, the war between Ukraine and Russia brought movement to the real estate sector in Antalya. Both rents and purchase prices have increased in the city.

Ukrainians who came to Antalya due to the Russia-Ukraine war rent an apartment for 20-40 thousand liras per month and pay annually in cash. Compared to 2021, in March 2022, Russian house purchases increased by 30 percent, while the increase in Ukrainians reached 80 percent.

According to the “home sales to foreigners” data announced by the Turkish Statistical Institute (TUIK), Antalya continued to be the second city that foreigners showed interest after Istanbul.

In the first 3 months of 2021, 9,887 residences were sold to foreigners throughout Turkey.

Looking at the year 2022 of the same period, it was reflected in the data that 14,344 houses were sold to foreigners with an increase of 45 percent. Citizens of Iran, Iraq and Russia are in the top 3 rank in housing sales.

When the monthly data were evaluated, it was seen that there was an increase in house sales in March in both years.

Last year, 462 residences were sold to foreigners in January, 533 in February and 889 in March in Antalya. In 2022, these numbers increased. 914 residences in January, 1099 in February and 1434 in March were owned by foreigners. In March 2022, there was an increase of 61 percent in house sales compared to the same period of the previous year.

In the first three months of 2021, the Russians bought 938 houses across Turkey.

This figure increased to 1535 in the same period of 2022. The increase was reflected in the data as 63 percent.

Ranking 7th in real estate investment in Turkey, Ukrainians bought 222 residences across Turkey in the first 3 months last year. This figure increased to 381 in the same period of 2022. The increase was 71 percent.

The effects of the war, which started at the end of February, were clearly seen in March. In March 2021, Ukrainians bought 93 houses. This figure was 168 in March 2022. While the Russians bought 419 houses in March 2021, this figure became 547 in March 2022.

It was observed that there was an increase in the purchases of the citizens of both countries. While the increase in house purchases in Russians in March remained around 30 percent, the increase in Ukrainians reached 80 percent.

Antalya Chamber of Commerce and Industry Board Member Mustafa Ayanoğlu said that the housing activity in the city started during the pandemic period.

Explaining that the low housing loan interest rates also brought dynamism to the sector, Ayanoğlu said, “There was a 63 percent increase in house sales to Russians in the first three months of last year. “There was a 71 percent increase in Ukrainians,” he said.

“The Russians and Ukrainians sought a safe place, and interest increased because of this. The rents have also increased,” said Ayanoğlu, adding, “The houses worth 2,500-3 thousand TL have become 10 thousand liras. The war has effects on the rise in prices. Our local people have been adversely affected,” he said.

Explaining that the furnished apartments are rented to Russian or Ukrainian families at high prices by opportunistic landlords, Ayanoğlu said, “He rents out the house where he lives alone and moves in with his mother and father. We know that these houses are given to foreign nationals up to 40 thousand TL per month. These are the monthly prices. Incredible numbers,” he said.