Russian-born billionaire Roman Abramovich, who was sanctioned by the United Kingdom, European Union, and Canada since the beginning of the Russian invasion of Ukraine on February 24, has rented a riverfront property on the Bosphorus, Turkey for $50,000 per month. The mansion, located in the town of Anadoluhisarı (Anatolian Fortress) was constructed around 50 years ago and has its own pier.

Seeking waterfront properties

The 56-year-old tycoon has reportedly been spending his days in the city’s European seaside neighbourhoods searching to buy a riverfront property, according to local media reports.

In August, Abramovich anchored a further two superyachts in Turkish seas, increasing the total to four. He took the 55-meter-long “Halo” and the 67-meter-long “Garcon” to Göcek, a seaside region on the Aegean.

Since the beginning of the sanctions, the mega yachts “Eclipse” and “Solaris” owned by the previous owner of Chelsea have been cruising in the Aegean Sea.

The four boats are expected to cost about $1.2 billion in total.

Ulvi Ozcan, chairman of the Istanbul Real Estate Brokers Club (STEB), emphasised the interest of foreigners in Istanbul real estate by saying: “Executive white-collar businessmen come to Istanbul to acquire houses.

Meanwhile, Middle Easterners mostly travel to Istanbul to gain second citizenship and passports through Golden Visa, because they view it as a gateway to Europe, and particularly choose the European side’s Esenyurt, Beylikdüzü, Halkal, and Avclar districts.

On Badat Street in the Kadköy neighbourhood, there are also residents who are Russian and Iranian, he continued.

Abramovich, who has citizenship in Russia, Israel, and Portugal, has a net worth of $14.5 billion in 2021. He is the richest person in Portugal, the second-richest person in Israel, and the 11th-richest person in Russia.