Turkish property & economy news
07 October 2020
'If you love Bodrum, make it your home' says Mayor worried about population growth Bodrum's summer population has stayed put. Reluctant to head back to the city and the prospect of lockdown, Turks holidaying in the peninsula are staying put: working and educating their children from home. The increased numbers have placed extra demands on Bodrum's infrastructure, and the Mayor is wondering how the city will cope.24 September 2020
Resorts set to swell this winter as Istanbul residents flee the city Keen to avoid more time trapped in their city apartments, Istanbul residents are heading for their holiday homes. The resort towns, especially those closest to Turkey's largest city, are seeing their populations swell as holiday home owners move in for the winter. Local tradespeople and business owners are welcoming the boost to the local economy.17 September 2020
Despite pandemic, 15 billion USD predicted from tourism in 2020 A senior industry representative said that Turkey’s tourism industry could generate as much as 15 billion USD by the end of 2020 as the sector sees a recovery from the COVID-19 pandemic, with international arrivals rising in numbers.17 September 2020
Turkish marinas favoured docking site for super-rich this summer The docks in the resort town of Bodrum in Mugla, southwestern Turkey have become the new favourite destination for owners of mega yachts to dock, following a rise of COVID-19 cases reported in other countries along the Mediterranean Sea, including Spain and France.09 September 2020
Surge of US interest in Turkey as Americans tire of pandemic conditions The pandemic has prompted a lot of people to evaluate. What is important? What should life look like? And where should I live? Americans, fed up with pandemic conditions and an increasingly polarised society, are looking outwards for new opportunities. And many are looking to Turkey, where citizenship is available with a $250,000 investment.07 September 2020
Foreign real estate investments in Turkey predicted to rise A senior real estate sector representative has said that house sales in Turkey to non-nationals are predicted to see a significant increase in the forthcoming period due to the currency exchange rate and the country’s effective containment of the COVID-19 pandemic.07 September 2020
Turkish tourism boosted by new German arrivals Germany’s initial lifting of travel restrictions due to COVID-19 is expected to give Turkey a significant boost in the tourism sector, tourism representatives are expecting. This would be the second boost to the tourism recovery, after the arrival of Russian tourists.07 September 2020
Tourists return to Cappadocia after a five month wait In the second week of March, the General Directorate of Civil Aviation cancelled all hot air balloon tours in Turkey’s touristic region of Cappadocia as part of the country’s fight to contain the COVID-19 outbreak. As of August 22, flights were recommenced, after a five-month break.03 September 2020
Despite pandemic, property sales top 1 million in first half of 2020 Official data shows that despite the COVID-19 crisis and consequent lockdown enforcements, the first half of 2020 saw more than a million properties sold in Turkey. In total, 1,058,448 residential and commercial properties, as well as plots of land, were sold during the period of six months between January and July this year.03 September 2020
Promising July leads to optimism for Turkey’s tourism season Since flights were restarted from many countries in July, tourism in Turkey has quickly gathered pace. According to the Culture and Tourism Ministry data, around 933,000 tourists flew to Turkey last month alone, which was more than quadruple June figures, which sat at 215,000.03 September 2020
Ukrainians top list as number of tourists visiting Antalya reach 1 million As international flights resume to Antalya, the number of foreign tourists visiting the Turkish Mediterranean resort city has hit one million, with Ukraine being the most popular homeland for these tourists. Antalya has established itself as a safe destination for holidaymakers during the coronavirus pandemic, and as a result the number of tourists have soared.02 September 2020
Turkey takes its first steps towards outer space Turkey is hoping to get a foothold in the final frontier. Two years ago, Erodgan launched the country's first space agency. Now, a rocket technology company, Roketsan, is developing a space trial of a locally made liquid-propellant rocket. The space bid is one of several projects launched in Turkey to boost the economy.
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