Ukrainians are mass buying real estate in one of the neighboring countries.

Ukrainians have become one of the largest buyers of real estate in Turkey in 2024. According to the Turkish Statistical Institute (TUIK), during this year Ukrainians purchased 1,631 real estate properties, which placed them third in the ranking. Iranian citizens are in second place with 2,166 purchased properties. The leaders among foreign buyers are Russians, with 4,867 real estate purchases.

Although Russians have maintained their leadership for the third consecutive year, their activity has noticeably decreased. In 2023, they purchased over 10,500 properties, and in 2022, during the war in Ukraine, the number of purchases dropped to 16,300 (24% of the total number of purchases by foreigners). Previously, in 2021, before the invasion of the Russian Federation into Ukraine, Russians purchased 5,400 houses and apartments in Turkey.

At the end of 2023, the minimum property value necessary for obtaining a residence permit (VNZH) in Turkey increased to $200,000. Earlier, this amount was $50,000 for small cities and $75,000 for megacities.

Oligarch Roman Abramovich spends time in three countries. He frequently visits Russia and Israel, but he spends most of his time in Turkey, which has become his vacation spot and 'transit base' during the sanctions.