Market news

Representatives from Russia and the CIS most active buyers in the Turkish real estate market

16.10.2009


According to a study prepared by the international real estate agency Gordon Rock in the first 9 months of the 2009th most active buyers in the Turkish real estate market were representatives of Russia and the CIS.

In report the Turkish real estate market in 2009 was divided into 3 stages - "calm", "period of reflection" and finally - "awakening". Also ‘n report stating that by the beginning of the holiday season, real estate prices have stabilized and approaching to the end of the summer sales started to grow.

Most real estate in Turkey was acquired by British (27%), followed by Germany and the Scandinavian countries (22%), followed with 20% market share followed by citizens of Russia and the CIS. In this case more significant increase in purchases compared to past years have shown Russia and the CIS.
 
According to Gordon Rock’s President Stanislav Zingel for Russians, Ukrainians and citizens of other CIS countries Turkey is in the top 10 countries in popularity in terms of purchasing real estate. This is facilitated by the relatively low level of real estate prices, large selection of facilities and flexible installment plan offered by Turkish contractors.
 
According to Golden Rock’s forecasts in 2010 the proportion of purchases committed by citizens of Russia and the CIS will raise this   to the 2nd place in the ranking. If the economic performance will improve, they may well shift the UK the first place.



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