Because of the collapse of the Turkish lira
Real estate sold to foreigners is growing by 50 percent
20,000 euros for a two-bedroom apartment in a medium-sized city
Bulgarians are buying property in Turkey en masse. At the moment, the interest is for investment purposes, as Bulgarians are looking to buy cheap real estate in villages that are close to the Turkish coast, regardless of the region. This was explained by real estate brokers to Trud.
The reason for the great interest in houses and apartments in our southern neighbor is the huge devaluation of the Turkish lira, which has made investment in real estate extremely profitable for foreigners.
In Turkish real estate sites, the prices of two-bedroom apartments in gated communities in resorts such as Marmaris, Antalya and Kusadasi start at around 40,000 euros, and the price rises according to the extras included, paying an average of 650-750 euros per square meter. Similar prices can be found even in some districts of Istanbul. The offers are published on sites that are mainly looking for foreign customers, ie they are inflated compared to the prices for the local market. These are prices that, with real interest and negotiations, can be reduced by 5 to 10 percent, the industry commented.
However, it is much more profitable to search directly through the owner, because then the prices are at least 30 percent lower. That is why many Bulgarians who are looking to buy a property check ads in Turkish groups for the sale of real estate on social networks or look for Bulgarian intermediaries who live in Turkey for contacts.
A reference among the ads on social networks shows that a two-bedroom apartment of 145-160 square meters in some of the medium-sized Turkish cities can be found for 20-25 000 euros, but only if the ad is from the owner. There is also interest in these properties, mainly from families of Bulgarians of Turkish origin who want to buy properties for their children in university cities, for their close relatives who left the country years ago or simply as an investment because of bargains.
The main buyers of real estate are Bulgarians, Russians, Czechs, Slovaks, Poles, Romanians and Israelis, according to Turkish real estate sites.