Refer to news releases published by Property Turkey for latest updates on political matters, economic performance, tourism in Turkey, real estate market analysis and other matters that could potentially affect property investment and living in Turkey.
Covering Turkey's popular real estate markets, including Istanbul, Bodrum, Antalya, Fethiye, Kalkan, Kas, and Side as we scour through hundreds of international sources to bring you the very latest updates on Turkey. We look at political affairs, economic updates, mortgages, tourism, weather, taxes, social and cultural affairs that are relevant to all things Turkish.
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.
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.”
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.
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.
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.
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.
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.
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.”
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.
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.
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.