Vesta Global Co-Founder Teuta Narazan stated in an interview with Bloomberg HT that, due to sanctions imposed in Europe, we will see more Russians in the real estate market this year.
 

Speaking on the "Üst Düzey" program aired on Bloomberg HT, Narazan said that, due to the sanctions imposed as a result of the Russia-Ukraine war, demand from Russia has shifted from Europe to Türkiye.
 

Highlights from Narazan’s remarks:

"Russians are sanctioned by both America and Europe. Türkiye is the closest country to Europe that grants citizenship to Russians. Previously, there wasn’t much demand from Russians; they mostly preferred Europe for citizenship. But there came a time when even Switzerland froze Russian funds, which also raised questions for Turkish investors: if there’s a political shift, will Europeans freeze our assets, too?
 

We had many clients who had accounts in Switzerland and the UK asking whether they should shift from cash to real estate. Now, we are seeing a high demand from Russians in Türkiye this year - for both opening bank accounts and purchasing real estate."
 

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