Turkish property & economy news
11 January 2022
Cappadocia welcomed record numbers to celebrate New Year The UNESCO world heritage site, Cappadocia, saw foreign and domestic tourists flock to celebrate the New Year amidst the historical, cultural, and natural marvels that the area has to offer. The region put on special celebrations in various ways, with hotels welcoming tourists from all over the world to join in the festivities.29 December 2021
President Erdogan says Turkish Education is amongst the best President Erdogan recently announced that over the past 20 years Turkey have made significant improvements in every area of education, to the point where they are now capable of competing with other nations, in particularly the Organisation for Economic Co-operation and Development (OECD) countries.29 December 2021
Renault opens new subsidiary in Turkey The French car giant Renault recently announced the establishment of RGO (Renault Group Automotive inc.) which is part of a breakthrough strategy that they are deploying in Turkey. The move has been made so that Renault can strengthen both their investments and presence in Turkey.28 December 2021
Revision to Turkey’s Tourism Revenue for 2021 At the 11th International Resort Tourism Congress held at the Mediterranean resort city in Antalya, the Turkish Culture and Tourism Minister announced that Turkey’s financial goal from the tourism industry for 2021 has been revised up and is now set to be 24 billion USD in total.28 December 2021
Istanbul set to launch fastest Metro Line A new Metro Line has been running trials to connect Gayrettepe to Istanbul Airport. The line is due to open next year and will be the fastest line in the city with the capability of travelling at 120kph. The Transport and Infrastructure Minister was present at the trials and added that the Metro Line would also be the first to use the country’s signalling system.28 December 2021
First Libyan Ferry arrives in Turkey in decades After decades, the first passenger ferry from Libya docked at the Aegean coast in the Izmir province of Turkey. The ferry, “Kevalay Queen,” departed from Misrata, the Libyan port. The ferry, carrying 107 passengers anchored down at the Alsancak Port in Izmir and this was the first time in 25 years that the route has been used.27 December 2021
Investors make gains as lira comes back with force After government intervention, the lira made record-breaking gains last week, ending 50% up on Christmas Eve. Investors who bought property at the bottom of the currency are now cashing in, and there's more growth set to come, analysts say.20 December 2021
According to UK survey, Istanbul is cheapest city to relocate to In a recent survey conducted in the UK, Istanbul was rated as the most affordable city in the world to relocate to and start a new life as an expat. The research looked at a range of things including property prices, cost of living, and average wage.20 December 2021
Christmas wreaths made in Antalya used in homes throughout Europe Every year in the southern province of Antalya, people work hard to create beautiful and decorative wreaths that will go on to be displayed around homes in various countries, but particularly in Europe during the Christmas and New Year’s celebrations.18 December 2021
Turkish house sales to foreigners hits record high Buyers are flocking to Turkey to take advantage of the rock-bottom Turkish Lira. The influx of interest has resulted in a month like no other: a huge 48% rise in property sales in November. The 7363 properties represents the highest number since records began in 2013.10 December 2021
Relocating? Istanbul is top affordable spot A UK study has revealed that Istanbul is the most affordable city for anyone looking to relocate. Living costs in Turkey's largest city are a staggering £15,000 lower than the average city, and an eye-watering £41,000 less than Basel, which took out the least affordable city spot.03 December 2021
The lira's sliding, what now for property buyers? Turkey's lira is making the news again. If you're a Turkish citizen, the news is bad. But if you're a buyer, especially with dollars or pounds, opportunity knocks. Property Turkey director Cameron Deggin says business is booming, and if you're an investor, the time is now to make your move.
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