Turkish property & economy news
11 December 2020
Turkey's property prices are growing faster than anywhere in the world Cheap lending has seen a surge of demand in Turkey's housing market, resulting in an upwards movement in house prices. A report from Knight Frank shows that Turkey's house price growth was highest in the world for the third consecutive quarter. Property Turkey director Cameron Deggin said the report chimed with his experience over the last few months, as buying continues apace.03 December 2020
Bodrum's expanding its out-of-doors tourism with agricultural destinations This year has represented a seismic shift for tourism, with dwindling numbers of visitors affecting bank accounts and the wider economy. Now tourists are heading back to tourist destinations, but they're operating by a different set of rules. Turkey's tourism operators are responding, with new destinations catering to a socially-distanced world.02 December 2020
Government stimulus sees Turkey outperforming peers in third quarter In a year that's been a challenge for almost every country on the planet, Turkey's economy has outperformed expectations. The third quarter of 2020 saw the economy outperform its peers. However, the fourth quarter will see a slowdown as interest rates climb and the country introduces measures to deal with the resurgence of coronavirus.24 November 2020
A few economic tweaks are bringing once cautious investors back to Turkey After a tumultuous year, stability is welcome. Tweaking of Turkey's economic and financial landscape means investing in Turkey is a secure prospect for foreign investors, who are returning to Turkey after holding off in a year where unpredictability has reigned. Nothing stimulates a market more than stability and opportunity, both of which Turkey looks primed to deliver moving into 2021.17 November 2020
Despite pandemic, foreign property sales in Turkey reach $7bn It's been a year we'll never forget. Pandemic conditions put the brakes on daily lives and routines, and life came to a grinding halt. But not, it seems, in Turkey, where foreign buyers bought up big. An insider predicts that this year, foreign property sales will reach $7bn. Property Turkey director Cameron Deggin puts this down to a shift in thinking.17 November 2020
Turkish real estate sales continue to rise House sales in Turkey have recorded the second-best September on record, with representatives in property sales remaining optimistic about how the rest of the year will pan out – sales to foreign buyers are expected to exceed 40,000 by the end of 2020.17 November 2020
Istanbul Airport and the High-Speed Metro According to the Transportation and Infrastructure Minister of Turkey, the new high-speed metro train line that will connect the city to Istanbul Airport will be completed and open for use by the end of April next year.17 November 2020
Turkey hits the Top Spot for Russian tourists Despite the pandemic, Russian tourists’ interest in the Mediterranean coast of Turkey continues to rise. Due to this support, tourist operators have stated that they will be prolonging the holiday season to include November, with some saying they may even extend the season through December too.17 November 2020
Booking hotel portal to open an office in Turkey The huge online tourism portal, Booking.com has announced that they are to open an office in Turkey. This comes due to new legislation in Turkey that aims to ensure that the personal data from their citizens is protected. Under the new laws, social media platforms such as Facebook and Twitter will have to have at least one employee in the country.17 November 2020
7 million houses sold in Turkey in five years According to a recent report by the Anadolu Agency (AA), over the past five years house sales in Turkey have reached almost 7 million. The information was based upon data provided by the TUIK (Turkish Statistical Institute) and shows that 6.9 million houses were purchased by Turks and a further 154,871 houses were sold to foreign buyers.13 November 2020
Turkish Cargo winner of Europe’s Best Air Cargo Brand In a statement delivered by the press office for Turkish Air, they proudly announced at the Air Cargo News Awards 2020 that Turkish Cargo which is a subsidiary of (THY) Turkish Airlines had been named as the Best Cargo Airline in Europe. Due to the COVID-19 pandemic, the award ceremony had to be held virtually for the first time ever in its history.13 November 2020
Tourism Support Packages offered from Turkish Banks To try and beat the distress caused by COVID-19 affecting the world, the TBB (Turkish Bank Association) is putting together a Tourism Support Package to help businesses relieve any economic fallout from the pandemic that has brought the tourism sector to its knees.
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