Turkish property & economy news
28 August 2020
Why the US could be Turkey's quiet ally in the Med Turkey's discovery of a massive store of natural gas in the Eastern Mediterranean has sparked tensions in the area, with Greece of the view that the exploration was illegal. Also this week came a report from US investment bank JP Morgan, who appeared to back the Turkish lira. With this nod of endorsement, could Turkey have an ally in the US?27 August 2020
Chinese nationals rank in Top 10 property buyers in Turkey In the first half of 2020 there was a new entry to the list of largest foreign property in Turkey buyers: China. After a three-year absence from the Top 20 List, they jumped to eighth in the list published recently.27 August 2020
Real estate sales in Turkey on the rise again Real estate in Turkey has always attracted major foreign interest thanks to Turkey’s stunning location, Turkish citizenship by investment incentives, and promotional campaigns offered. Foreign investment interest has now started to bounce back alongside the country’s normalisation process following the COVID-19 outbreak, a sector official has said.24 August 2020
Despite Covid, Turkey hopeful for $15bn tourist gain Last year, Turkey's tourism revenue reached a record $34.5 billion. This year, the figure was never going to be as high, nor is there hope of reaching the record-breaking goal of 60 million visitors. but officials are hopeful of regaining some of the lost income between now and the year's end. Tourists are slowly coming back to Turkey as border restrictions lift.21 August 2020
Adios, Spain: record number of superyachts in Turkey Holidays look a little different this year. And that applies to the holidays of the uber-rich, too. Data from Bloomberg shows that superyachts are leaving Spain in favour of Turkish shores, as Turkey's reputation as a safe haven during the coronavirus pandemic grows. Turkey is also growing in reputation as a builder of yachts.20 August 2020
Black Sea gas discovery a game changer for Turkey Turkey's reliance on neighbours for its energy has long been a concern in Ankara. That's why this week's announcement, tipped to be the discovery of a huge store of natural gas, could herald a new era for Turkey, according to its president, Recep Tayyip Erdogan. The Black Sea find could cement and strengthen Turkey's position in the region.19 August 2020
British Tourists Say Turkey ‘Safer Destination’ For Holidays After the resumption of flights to and from Turkey, British tourists have begun to enjoy summer holidays on the Mediterranean and Aegean coasts, citing the safety precautions taken to ensure their safety during the COVID-19 outbreak as the reason for this.19 August 2020
Returning Russian travellers boost Turkish tourism season Representatives of tourism in Turkey are hoping the resumption of flights from Russia to Turkey will help to kick-start the summer season in resort towns with tourists now beginning to fly into the country. As of August 1, flights between Russia and Turkey resumed after the break due to the COVID-19.18 August 2020
Could a low lira make Turkey the summer's best destination? It's hard to remember a time when we needed a holiday more than we do right now. Fortunately, it's not too late. Summer is at its height, and prices are at their lowest - at least, in Turkey, where a low lira has conspired with low demand to create a situation where bargains abound. Time to book a holiday to Turkey, and enjoy a summer break without the crowds.11 August 2020
Istanbul Airport now has COVID-19 testing facility Istanbul Airport’s operator IGA said that a facility had been established at the airport in order for coronavirus testing be done on passengers as they arrive or leave Turkey. The samples are done with swabs and are taken from the throat and nose with results available within two hours.11 August 2020
Turkish reopened resorts at pre-pandemic occupancy levels Hotels that reopened when the normalisation process commenced, following the COVID-19 pandemic that saw a break in the Mediterranean and Aegean, are seeing their occupancy rates reach pre-pandemic levels according to a statement made by the chairman of the Turkish Travel Agencies Association.11 August 2020
210% increase in house sales in Turkey in June Since last December, June recorded the highest monthly sales with more than 202,000 houses sold; the sector profiting from the interest rate cuts and increased mortgages. A total of 190,012 units were sold in June alone, with sales of houses with mortgages accounting for 53.4% of that.
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