For many people, the year 2023 will be important for Turkey. Not only because it will be the 100th anniversary of the formation of the Turkish Republic but also because the AKP ruling government have set themselves an impressive set of targets to achieve by this deadline. The records break down into specific categories focusing on the economy, energy, foreign policy, healthcare, transport and tourism.
Much of Turkey’s success in recent years and its strength to bounce back from disastrous situations has been its global alliances. The strategic plan to form diplomatic relationships with several countries around the globe includes courting the Chinese, who just happen to have the world’s second-biggest economy and largest population count. The reasons for doing this are plentiful, and it all starts with the Belt and Road Initiative.
After a stellar 2017 which saw growth beat expectations to reach 6 percent, experts are predicting the year ahead. While foreign direct investment and domestic growth will continue, the Turkish economy will be hampered by its current account deficit and the issue of inflation. Overall growth is expected to be around 5 percent over the next five years.
Thanks mainly to strong economic growth and stability, 2017 saw a notable return for Turkey's property market after 2 years of political tension and regional unrest. We examine the factors driving Turkey's real estate market and why investors will target Turkish property in 2018.
Basin Ekspres property is no longer Istanbul’s best kept secret. The region on Istanbul’s European side has well and truly come into its own, with quality housing developments and improved infrastructure. We explain why real estate investors should look to Basin Ekspres in 2018 - which will mark the last year of incredible bargains to be found in the area.
Turkey’s third-quarter growth has surpassed all predictions. The economy expanded by 11.1 percent between July and September, putting the country ahead of giants China and India and putting growth on track to top 6.5 percent. Thanks in part to structural reforms and investor incentives, the economic growth bodes well for continued economic success in 2018.
Erdogan's new fiscal measures are having a positive effect on the Turkish economy, which in turn is great news for anyone thinking of investing in Turkish property, as prices around the country - especially in Istanbul - continue to climb. Erdogan, who has spent the last 15 years transforming the country's economic fortunes, will need to continue his progress to keep voters onside.
A year or so of poor performance for the Turkish Lira saw the currency become one of the most talked about on the planet - for all the wrong reasons. But in a remarkable reversal of fortunes, the rebounding lira is now opening up a world of opportunity for investors with a 15% gain against the Dollar this year. With analysts saying the only way is up, the lira potentially offers some of the highest returns of any currency in the world.
Investors seeking deals on property in Turkey take note: the VAT exemption offered to first-time buyers will most likely come to an end at the end of September, presenting a limited time to take advantage of an 18% discount. The temporary scrapping of VAT was a government move to boost property sales volume in Turkey. As well as benefitting from hefty discounts, buyers purchasing property over $1m will also be eligible for citizenship.
Torba, a small village on the hedonistic Bodrum peninsula of Turkey, deserves to win awards for its stunning and open landscapes. Sitting outside of the central town area, life is good for locals who enjoy the crystal blue waters of the Aegean Sea, cool summer evenings and an average of 300 days of sunshine a year. Find out just why Torba is one of the top spots in Bodrum for those looking to buy properties and invest in the peninsula.
Property investment in Turkey is up by 70% since 2013, a testament to the country's strong economy and the relaxing of property-buying laws. With the rise in investment there's been a corresponding uptick in the number of buy-to-let investors, keen to capitalise on the country's, dynamic young population of renters and the steadily rising tourist numbers.
The once sleepy fishing village has been transformed into a sophisticated, cosmopolitan centre - while managing to retain the authentic atmosphere that's ensured its top spot with tourists. Yalikavak's prosperity has had a knock-on effect on its property market, and marina property is booming. Discover why this beautiful town is an ideal place for property investment.
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