Scandal in the Turkish real estate market: Russian bought 80 apartments and organized an illegal hotel
Real estate in Turkey is still in demand among foreigners, even though there has been some decline recently. And there are really interesting cases on the market. According to Hürriyet, not so long ago a Russian bought 80 apartments in one residential complex to organize his own illegal hotel. The details are in the article.
The number of recently sold properties in Antalya reached 108,000. Houses sold to foreigners are generally not used for their intended purpose. This was told by a member of the Board of Directors of the Turkish Agency for the Promotion and Development of Tourism (TGA), Chairman of the Board of Directors of the Mediterranean Touristic Hoteliers and Operators (AKTOB) Kaan Cavaloğlu: Among other buyers, one person bought 80 apartments. And the same person rents these apartments to his compatriots».
As it became known, these 80 sold apartments were not officially registered as a hotel, but had a common reception desk and even staff who supervised the order and process of accommodation.
According to the authorities, this situation shows that the most popular resort cities (Antalya, Alanya and Konakly) actually created an illegal rental market, which is not regulated. Moreover, it seriously harms the country’s national tourism sector. The interest of investors in only some regions of the country - most often coastal cities - has been identified as an equally important problem.
Kavalloglu also stressed that a special report has already been submitted to the Ministry of Culture and Tourism on this issue. The experience of Portugal, Italy and Spain had been studied and an appropriate law had been proposed that would oblige all lessors to register their activities and pay tax.