Turkish property & economy news
04 December 2018
Turkish property sales soar Property sales to foreigners have grown just about every year. This year, they're looking particularly healthy. With government incentives such as lowering the minimum investment amount for citizenship, and the lower lira enticing buyers from the Middle East, property sales were boosted by 134 percent in October.28 November 2018
Turkey shapes up for a bumper ski season When the weather outside is frightful - and in Turkey, this is only for a short time - the skiing is delightful. Occupancy rates are hitting new highs in Turkey's ski areas as the the ski season gets underway. Foreigners and domestic tourists are pushing numbers up in prominent ski resorts like Uludag.20 November 2018
Turkey rolls back foreign currency restrictions In September, in a bid to shore up the falling Turkish Lira, the Turkish government ruled that all property sales, rental contracts and leases must be made in Turkish lira. Now, they've rolled back restrictions, loosening the rules for foreign property buyers.14 November 2018
"The bad days are over" for economy — finance minister Fear not: Turkey's economy is back on track, says the country's finance minister Berat Albaryak. The country's in better shape than it was two months ago, and that's set to improve by the year end. The next task for the government is tackling record inflation levels, and in the longer term, structural reforms will turn Turkey into a prosperous production economy, he said.06 November 2018
Middle Eastern buyers flock to Turkish real estate Since the Turkish government lowered the minimum threshold for citizenship investment, interest in Turkish real estate has grown significantly. Particularly from Arab investors. With a similar culture and a great economy, Middle Eastern buyers see Turkish property as more than an investment - but a second home.31 October 2018
Istanbul''s new airport is OPEN. Here's what you should know It's been years in the making, with billions spent. Now Istanbul's new airport is open - its first phase, anyway. Explore the ambitious megaproject that is the size of Leicester, and discover the numbers that went in to building the airport set to become the most-visited on the planet.24 October 2018
Turkey is vital to China's One Belt, One Road plan China's One Belt, One Road initiative is an ambitious, multi-billion dollar plan to connect the old Silk Road route. Its position between Asia and Europe means Turkey is vital to the plan, say Chinese officials. The trade route that was once disestablished by the Portuguese and Dutch traders will breathe new life into the Anatolian region and beyond.18 October 2018
Lira strengthens, inflation set for downward trend Turkey's lira has lost 45% of its value since the start of the year. However, it looks like there's a light at the end of the tunnel as relations between the US and Turkey normalise. This has prompted the lira to rally against the dollar. Investor confidence is climbing, and inflation is set to decline.04 October 2018
Low lira puts spotlight on Turkey's mansions With just 600 Bosphorus mansions in existence, its little wonder they rarely come on the market. But now, with the low lira pushing foreign interest in Turkish real estate to a peak, owners of these iconic buildings are selling up. However, few are ever listed online, and if you're on the lookout for a Bosphorus yali, you have to be in the know, explains Cameron Deggin.26 September 2018
Despite warnings, More Americans are visiting Turkey Tensions between the US and Turkey have helped to contribute to Turkey's current low-lira situation, and Turkey is currently listed as an advisory level 3 warning by the US State Department. But despite this, there's been a significant rise in the number of Americans visiting Turkey, taking advantage of the low lira to have affordable luxury holidays.20 September 2018
Now, $250,000 gets you a property AND a Turkish passport The government has slashed the amount of required real estate spend for citizenship in Turkey, allowing more people than ever to consider getting Turkish citizenship. Property Turkey director Cameron Deggin said the move would precipitate a surge of interest in Turkey and buying Turkish property.18 September 2018
Property transactions must be made in lira - Erdogan The Turkish government is working hard to boost the lira, with interest rate hikes and encouraging Turks to sell their dollars. Now, Erdogan has announced that all property transactions must be completed in the Turkish currency. Property Turkey director Cameron Deggin explains why this presents a window of opportunity for buyers.
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