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

Vesta Global Co-Founder Teuta Narazan spoke about real estate-focused overseas investments.

Appearing as a guest on the "Üst Düzey" program broadcast on Bloomberg HT, Narazan said that due to the sanctions imposed as a result of the war between Russia and Ukraine, demand from the Russian side 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 was not much demand from Russians; they mostly preferred Europe for citizenship. But there came a time when even Switzerland froze Russians' assets, and this raised a question mark for Turkish investors as well: if there is a political change in our country, will Europeans freeze our assets too? We had many clients who had accounts in Switzerland and the UK asking whether they should hold their wealth in real estate instead of cash. Now, this year, there is a great deal of demand from Russians for Türkiye, both for opening accounts and for real estate.
 

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