Turkish property & economy news
23 March 2021
Two new Subway Lines to open in Istanbul The Transport and Infrastructure Minister recently announced that Istanbul is getting two new subway lines, which will total 8 miles (12.9km). Adil Karaismailoglu explained that the first of the lines will be located on the city’s Asian side in the Uskudar district and is set to span between the neighbourhoods of Altunizade and Camlica.23 March 2021
Galataport project set to be operational in April President Recep Tayyip Erdogan announced that the Galataport project in Istanbul will be operational by April. During the launch of a cinema museum and refurbishment of a historical theatre, the president said: “Galataport is a worldwide project with the potential of drawing 25 million visitors, 7 million tourists and 1.5 million cruise passengers.”23 March 2021
Automotive sales in February increase by 24.2% Sales in Turkey’s automotive industry increased by 24.2% in February when compared to the same time last year according to a recent industry group report. In the report, the Automotive Distributor’s Association (ODD) said that in Turkey, commercial vehicles and passenger cars sales had surpassed 58,500 in February.17 March 2021
With no need for a vaccination, British tourists queue for Turkish summer holidays An announcement that British tourists won't need vaccination certificates to travel to Turkey has prompted a wave in bookings as Brits planned summer holidays to favourites like Antalya, Bodrum and Fethiye. Culture and tourism minister Mehmet Nuri Ersoy said Turkey was looking forward to welcoming British tourists "with open arms".11 March 2021
Turks eye housing market via interest-free scheme An Islamic-based lending system has been tightened up to allow Turks -- especially young, first-time buyers -- a way to bypass the eye-watering interest rates and find a way into the domestic housing market. Property Turkey director Cameron Deggin says the scheme will boost the market -- and add competition for international investors.02 March 2021
2021 tourism in Turkey helped by top COVID-19 measures According to the former secretary-general of the UNWTO, it will be quickly possible for tourism in Turkey to get back to pre-pandemic visitor numbers provided the country keeps measuring and proving to tourists that it is a safe place to visit.01 March 2021
Ukrainian tourists continue to choose Turkey Due to the healthy holiday opportunities and standards of cleanliness, Turkey was the number one choice in 2020 for Ukrainian tourists during the coronavirus pandemic. This was confirmed by a report from the Mediterranean Touristic Hoteliers Association (AKTOB).24 February 2021
'Grow with the country' expert urges investors as lira climbs A recent shake up of Turkey's monetary system is a positive sign that Erdogan no longer has the influence he once did. After two new appointments in the finance sector and sustained higher interest rates, the lira is on the move, and investors should be too, says Property Turkey director Cameron Deggin.23 February 2021
Brexit a positive for Turkish tourism A popular Turkish newspaper recently reported that experts think that Brexit will have a positive effect on the country when it comes to tourism numbers in Turkey. They have come to this conclusion as there will be more procedures for British visitors wanting to travel within EU countries than British visitors heading to Turkey.23 February 2021
Despite COVID-19 Lake Salda welcomed almost 1 million visitors Located in the Southwestern Burdur province of Turkey, is Lake Salda. Referred to as the Maldives of Turkey because of the clear blue waters and white beaches that is offers, it is a must see for those travelling in Turkey. New data released shows that even during the pandemic last year, Lake Salda played host to over 800,000 visitors and tourists.22 February 2021
Turkey's lira rallies as policy holds firm It's a chink of light amidst the doom and gloom: Turkey's lira has rallied, rising in strength against the dollar by 23% since November. Three months of firm fiscal policy, implemented by a new central bank governor, have born fruit, increasing confidence in Turkey and among foreign investors.17 February 2021
Turkey's ambitious plan to land on the moon Travelling to the moon is an idea that captures the imagination. It's also highly ambitious. These two factors make a moon landing highly appealing to Turkish President Recep Tayyip Erdogan, who has announced a Turkish bid to reach the moon by 2023. “Our roots will be on earth, our branches will be up in the sky,” Erdogan said.
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