Turkish property & economy news
06 June 2022
Turkish property sales hit an all-time high in March Residential property sales in Turkey continued to rise in March, reaching their highest level ever, according to figures released, aided by a surge in international buyer interest. The Turkish Statistical Institute (TurkStat) reported that house sales increased by 20.6 percent year-on-year to 134,170 units in March, the highest March result to date.02 June 2022
25 million people visit Istanbul's Grand Camlica Mosque Since its debut three years ago in Turkey's largest city Istanbul, the Grand Mosque of Camlica has welcomed 25 million visitors. The mosque is Turkey's most contemporary complex, containing an art gallery, library, conference hall, art workshop, and the newly opened Museum of Islamic Civilizations, in addition to being a grand place of prayer.31 May 2022
Istanbul prepares for tourists as cruise ship docks at Galataport According to Culture and Tourism Minister Nuri Ersoy, the mammoth cruise ship Costa Venezia anchored at Galataport on Thursday, making it the largest vessel to dock at the Turkish port, which is anticipated to treble its capacity in the near future.31 May 2022
Tourists flock to Istanbul, surpassing pre-pandemic levels As most coronavirus restrictions have been relaxed, Turkey's largest metropolis is seeing an influx of visitors, with crowd levels comparable to those seen before the pandemic. Istanbul, which straddles Europe and Asia, saw the number of foreign tourists more than quadruple in the first quarter of this year.31 May 2022
German retirees propose wintering in Turkey to save money on gas As Germany prepares for the possibility of a sudden halt in Russian gas supplies, a travel agency association has proposed an unusual solution in the face of a possible shortage and even higher energy prices this winter: sending senior citizens on vacation to warmer destinations during the cold season.13 May 2022
Turkey’s first electrical car Track ready to Test Turkey’s Automobile Joint Venture Group (Togg) recently confirmed that the test track that was built specifically for the first domestic and completely electric car in Turkey is almost completed. The construction of the 1.6km/1 mile track started in July 2020, and the fully electric car has successfully completed a debut test run according to the consortium developing the car.13 May 2022
Turkey viewed as a regional hub by American Companies In a recent statement, Julie Eadeh, the spokesperson from the United States' Ankara Embassy confirmed that many American companies are now seeing Turkey officially as a regional hub for business and are looking to increase investment within the nation.24 April 2022
Kusadasi welcomes 2,460 passengers on enormous cruise ship The Regal Princess aka “the floating city” is one of the world’s largest cruise ships, being 1,082 foot long and weighing 141,000 gross tonnes. The Bermuda-flagged ship disembarked at a port in Kusadasi in Turkey, which is situated in the west of the Aydin province.24 April 2022
Foreign trade using Turkish Lira jumps 72% According to a new report from an Agency where they cited data obtained from the Trade Ministry, Turkey’s trade in Turkish Lira is still enjoying the upward trend it enjoyed over the past year. The sanctions that have been put in place recently against Russia have served to reveal again how important trade using local currencies is.24 April 2022
France removes Turkey from travel restriction list According to the Turkish Consulate in Paris, an official announcement by France has removed Turkey from their orange list of COVID-19 restricted travel countries, moving it to the least restrictive green list and easing travel between the two countries.14 April 2022
Citizenship by Investment to rise from $250,000 to $400,000 BREAKING NEWS: Foreigners who want to become Turkish Citizens via property investment will now have to purchase a home worth at least $400,000 USD and agree to not sell the property for three years in order to meet the minimum requirement to apply.08 April 2022
Turkish Airlines aims for record number of tourism flights In the summer season of 2022, the national flag carrier Turkish Airlines (THY) will make their contribution to local tourism by offering tourism-oriented flights. Currently THY introduce millions of tourists to the stunning cities in Turkey.
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