Hi Everyone,

I am not in political science, but always keep an eye on international news as some of them definitely may have a great impact on real estate markets.

There are plenty of examples lately: cheap oil prices and Western sanctions against Russia make the ruble cheaper and as a result middle-class Russians buy fewer family vacation homes and more often look for rental income properties abroad; the crisis in Ukraine turns it into the poorest country in Europe, life is tough, economy in ruins, service businesses are closing because of the lack of customers and as a result middle-class Ukrainians are seeking to buy businesses and family homes abroad to flee the turmoil.

Now the recent conflict between Turkey and Russia quite possibly will have a huge impact on Turkish international real estate market. The Russian news agency Interfax published an article a couple of days ago where the experts state that Russians own approximately up to 35% or 40% of properties in the resort areas of Turkey: residential (villas, apartments, townhouses) and commercial (hotels, restaurants). It is in such popular places as Antalya, Side, Kemer, Bodrum, Alanya, Marmaris, Fethiye and others.

As it seems that traveling to Turkey and vacationing there will be difficult for Russians, they will stop buying real estate in the country and start selling instead - at least the experts advise them so in the quoted article.

What does it mean for the local Turkish realtors? Approach (advertise to) the Russian owners in the resort areas mentioned and offer your services to sell their properties to other international buyers - catch the wave while it occurs and help Russian sellers!

Where will the money from those completed sales go? Quite possible to purchase properties in other warm places at the sea shores traditional for Russian buyers, such as Spain, Bulgaria, and Greece and maybe some in more expensive Italy and France? Again, local sellers and realtors over there in the mentioned countries - catch the wave while it occurs and help Russian buyers!

To your best business success,

Sincerely,