Weak pound draws Balkan property buyers to Turkey

Sarajevo real estate agent Minet Music will not disclose exactly how many properties he has sold in Turkey to buyers in the Balkans, but it is quite a lot.

“I can tell you that I go to Turkey at least twice a week for paperwork and sales arrangements for Balkan citizens and members of the Balkan diaspora living in Europe and the United States,” Music said. , owner of MM Real Estate Company in the Bosnian capital and official Balkan representative of the Turkish company Sinpas GYO Real Estate.

“The Turkish lira has weakened in recent years, so buy high quality houses in Istanbul or Alanya [on the Turkish Mediterranean coast] is now cheaper than buying a house in Sarajevo or Belgrade.

According to official data, foreigners bought some 14,000 residential properties in Turkey in the first four months of 2021, a more than four-fold increase from the same period of 2020. Although there is no According to official data on the number of buyers from the Balkans, industry insiders say Balkan residents’ interest in Turkish real estate is increasing.

“Every year, we sell around 90 residential properties to citizens of the Balkans, mainly in Antalya, Bodrum, Fethiye and Alanya and the demand is increasing every day,” said Hatidza Ahatovic, sales manager at Capitol Real Estate Firm in Alanya, saying reference to some of Turkey’s most popular tourist resorts.

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