Turkish property & economy news
17 September 2021
Target of Zero Emissions for Istanbul Airport By 2050 The Airport Council International (ACI) oversees 238 worldwide airports and recently announced a new initiative with Istanbul Airport, confirming their pledge to achieve net-zero CO2 emissions by 2050. IGA, the operator said that they are working towards sustainable development and the commitment to zero-emission is just a small part of their plans.17 September 2021
Turkey joins European COVID-19 Passport Program The European Commission recently announced that they will accept COVID-19 certificates from Turkey. The executive body of the EU made the same decision to accept certificates from both Ukraine and North Macedonia. This decision sees Turkey joining the bloc’s COVID-19 pass protocol, which moves travel to and within the bloc.15 September 2021
Rentals climbing sky-high in Istanbul High prices are impacting first home buyers, who are in turn staying put in rentals, driving prices for rental properties up. While it's bad news for these buyers, investors with rental properties are sitting pretty, earning hefty rental incomes on top of capital gains.14 September 2021
In Q2, Turkish economy grew, expanding almost 8% in 2021 In the second quarter, Turkey’s economy is likely to have surged 21.7%; this is mainly due to a rebound from a steep fall which would have been caused, according to a poll, by the restrictions from COVID-19 last year. This would bring about an expansion for the full year of 7.95%.14 September 2021
UK and Turkey to talk about widespread free trade deal Next year, London and Ankara will enter into negotiations regarding more widespread trade deals as a way of adding new areas for a greater mutual commercial cooperation. Both countries signed a post-Brexit free trade agreement (FTA) last year in December; this was done in order to support a trade deal worth over 25 billion USD, TL 209.42 billion.09 September 2021
Istanbul's Galataport ready to swing into action Galataport, Istanbul's US$1.7 billion cruise ship port is about to welcome its first cruise ships. Located in the city's Karakoy district, the huge project can accommodate three ships a day and 15,000 daily visitors. As well as a transit hub for cruise ship passengers, its management hopes Galataport will become a major tourist destination.01 September 2021
Bodrum makes Time Magazine's greatest places list We knew it, now everyone knows: Bodrum is one of the greatest places on earth. Time Magazine's list of the world's 100 greatest places includes this beautiful southwestern peninsula, with its ancient relics, sunny beaches and upmarket hotels. Despite the challenges raised by the pandemic, this tourist hub is thriving.23 August 2021
Pandemic drives Princes Island property prices skyward If the pandemic has made us realise one thing, it's the value of fresh air and space. This newfound realisation has caused a number of societal shifts. For many in Istanbul, it's prompted a drive to get out of the city. While property in the central city remains as desirable as ever, some are opting to seek out new horizons, pushing prices up in peripheral areas.18 August 2021
Covid travel update: when will Turkey leave the red list? Turkey is currently on the UK's red list, which means a quarantine for returning visitors. When will this change?16 August 2021
First ship expected at Galataport in August Galataport is set to return the Karakoy coastline in Istanbul to the public after 200 years. The port will take up the role as one of the top cruise destinations in the city and make a huge contribution to local tourism. Galataport has undergone major renovation and will see the first ship anchor in August to open a new era for tourism.11 August 2021
Air Traffic Control in Turkey ranked 1st in Europe DHMI Turkey’s State Airports Authority Air Traffic Control Centre stands first in Europe having welcomed 324,706 flights in the first six months of 2021. This data was made available by the European Organization for the Safety of Air Navigation also known as Eurocontrol. These figures show that flights are on track to return to pre-COVID 19 conditions.11 August 2021
UNESCO Creative City Accolade awarded to Kayseri in Turkey The central province of Kayseri in Turkey has been added to the UNESCO Creative Cities Network due to the rich cuisine the area has to offer to those who choose to visit, Memduh Buyukkilic, the Metropolitan Mayor of Kayseri explained.
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