Turkish property & economy news
28 January 2020
Cappadocia breaks tourism records in 2019 According to official data, Cappadocia played host to 3.7 million tourists between January and November last year. Due to the visitor numbers, the region exceeded the 3 million tourist figure for visitor numbers for the first time ever.24 January 2020
Foreign visitors to Turkey see double-digit growth Turkey finished 2019 on a high note as the country registered a double-digit growth of foreign tourists. The Culture and Tourism Ministry confirmed that international visitors to Turkey grew last year by 14.31% to 42.9 million from January to November.24 January 2020
2020 Turkish tourism to target Solo Travellers and Eastern Markets With the aim of gaining higher revenues, tourism operators are to turn their attention to attract greater tourist numbers from India, East Asia and China along with winning over the new generation of solo travellers.22 January 2020
Turkish Airlines to open new routes this year The Chairman of Turkey’s flag carrier confirmed that this year Turkish Airlines are updating and expanding their fleet, plus opening new routes. Ayci went on to say: “We have completed all the necessary procedures to launch flights to Malabo, Equatorial Guinea, Tokyo’s Haneda airport, Newark, New Jersey, and Vancouver, Canada in 2019.”22 January 2020
Investment to grow stronger between Moldova and Turkey In accordance with a news conference in Ankara on December 30th, 2019 attended by the Turkish and Moldovan Presidents, it was agreed that although the countries have faced difficulties, they believe that mutual investments will see them overcome issues with their bilateral economic relations.20 January 2020
Istanbul to open a new Biotechnology Valley The Tuzla district of Istanbul is setting up a biotechnology valley with the foundations due to be completed in July 2020. The project has an estimated cost of 12 billion Turkish Lira and it is predicted that the new biotechnology valley will create 30,000 new jobs in Tuzla.20 January 2020
Rate cuts see house sales soar in November 2019 Official data reported that residential purchases rose by a massive 54.4% in November 2019, after the CBRT (Central Bank of the Republic of Turkey) slashed their interest rates making borrowing costs far cheaper.19 January 2020
With tourism on high, Turkey's entering a bright new era Tourism is booming, and the numbers look good. With a tourist industry that's no longer dependent on sea, sand and sun, Turkey's diverse drawcards are working their magic, attracting millions of visitors and putting much-needed money into the economy, which relies partly on tourism for growth.19 January 2020
71 Bosphorus Mansions are for sale in Istanbul There are currently 71 mansions situated on the waterfront of the Bosporus that are currently for sale. An expert who oversees many of the Istanbul mansion sales confirmed that: “The combined value of this luxury estate stands at approximately TL10 billion which equates to 1.68 billion USD.”02 January 2020
Last year Turkey beat the odds. 2020 will be even better This year, the economy is set to expand 3%, signalling an easing of the country's currency woes.22 December 2019
This year, thermal tourism boosted Turkey's economy by $1bn Three million tourists visited Turkey's 1500 thermal springs this year, adding $1 billion to the Turkish economy. Turkey's geothermal tourism is growing, as the country seeks to expand its health tourist sector. Overseas visitors are discovering how quick and easy it is to reach some of these incredible attractions.18 December 2019
Rule change could make 2020 the year of bargain property in Turkey Getting a Turkish residency visa was once as easy as 1, 2, 3. But from 1 Jan 2020, it will no longer be possible for tourists to secure residency with a rental property contract. Property Turkey director Cameron Deggin believes this law change will precipitate a flood of interest in bargain property.
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