Turkish property & economy news
07 March 2020
Five more EU countries granted Turkish Visa exemption Turkey has recently announced that they intend to provide 90-day visa-free entry to tourists from five more European Union countries. This has come after Turkey removed visa restrictions and costs for citizens from the United Kingdom and other countries from within the European Union as part of an initiative to boost tourism.28 February 2020
Turkey to produce 1 million electric cars by 2030 The Ministry of Turkey’s Energy and Natural Resources has recently announced that it is anticipated by 2030 there will be over one million electric cars using Turkish roads. Fatih Donmez said: “By 2022/2023, we hope to see our own indigenous automobile on the roads.”28 February 2020
Facebook to open a new office in Bursa, Turkey Facebook have recently announced the opening of a new office in the city of Bursa, Turkey. Facebook is also set to open many other offices in various other Turkish cities with the sole aim of helping the younger generation.28 February 2020
Sabiha Gokcen Airport to introduce sleeping pods In a bid to keep up with the new Istanbul Airport who recently opened a private area where passengers can rest between flights, Sabiha Gokcen Airport has announced that they will be offering a new form of sleeping pods for passengers to sleep during long connections at the airport.26 February 2020
Turkey to increase flights to Asian countries Turkish Airlines have announced that they have increased direct flights from the city of Istanbul to the historical Silk Road city of Xi’an. They now fly four times a week to the province in China, which is also the home of the famous Terracotta Army. The first flights began on December 30.23 February 2020
Clock ticking for foreign investors as domestic market teeters on the brink Turkey's domestic real estate market has slowed down in the last couple of years as interest rates remained high. But this is set to change, and when it does, Turkish buyers will be back with a vengeance, sidelining foreign investors. The time to invest in Turkish property is now, says Property Turkey director Cameron Deggin.19 February 2020
Turkey’s Gold production set to break records in 2020 The President of the Turkish Gold Miners Association, Hasan Yucel, announced recently that gold production in Turkey is expected to beat the record set last year by the end of this year. In 2019, gold production peaked at 38 tonnes in Turkey, however Yucel estimates that gold production will be around 45 tonnes by the end of 2020.16 February 2020
Why Canal Istanbul is fast becoming a political hot point Erdogan's ambitious Canal Istanbul project was always a controversial one. Now, there is fresh opposition from Istanbul's newly elected mayor, Ekrem Imamoglu. The mayor has vowed to oppose the project any way he can, saying that the costly project will not have the benefits Turkey's president claim it will.11 February 2020
Turkish Airlines to carry 80 Million passengers this year Turkish Airlines (THY) confirmed their target for this year is to carry 78-80 million passengers, mainly on international routes across the globe, saying in a statement: “The target is to reach 78 million to 80 million total passengers carried, including 31.5 million to 33 million on domestic routes and 46 million to 47 million on international routes.”11 February 2020
Tourism investment on track to achieve 2023 Goals Turkey aims to continue diversifying the best known and traditional tourist locations in the country, including Istanbul, Izmir and Antalya so that they can play host to even more tourists this year.10 February 2020
Turkish house sales in 2019 top 1.35 million According to the statistical authority in Turkey, house sales reached almost 1.35 million in 2019. Foreign buyers were responsible for 45,500 house sales equating to an increase of 14.7% when compared to the year before. Almost 512,000 of the houses were sold for the first time with the remainder from January to December being second-hand sales.09 February 2020
Turkey 'not far' from 75 million tourist goal Turkey's ambitious goal to attract 75 million annual visitors by 2023 looks to be on track. As the country continues to develop its tourism industry, diversifying into health, cruise and thermal tourism and marketing itself to new countries, its tourism industry is more robust than ever, with 51.8m people visiting Turkey in 2019.
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