A Pricewaterhouse Coopers report showing what the world's largest economies will likely be in 2050 reveals some surprising results: current powerhouses will slip from their comfortable top spots to allow for emerging markets to take prime position. Among them is Turkey, currently at 17th place, which will climb to 11th position.
Property Turkey NewsRefer 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.
President Erdogan is urging the 5.5 million Turks living outside the country to travel back to Turkey for their holidays this year. The tourist sector has taken a battering from a depressed lira and a turbulent year 2016 where security concerns deterred foreign visitors from holidaying in Turkey. Meanwhile, domestic holiday demand has soared as Turks seek to take advantage of early holiday promotions.
Fikirtepe on the city's Asian side is a notorious slum area. However, this is about to change quite dramatically as $18 billion is poured into the area to build new homes and improve local infrastructure. A government official has said Fikirtepe will become a city within a city as construction ramps up in earnest.
Last week proved fruitful for Theresa May, who visited US President Donald Trump and Turkish President Recep Tayyip Erdogan in a push to sew the seeds of future trade deals which will prove necessary when Britain is no longer part of the EU. May and Erdogan signed a multi-million dollar fighter jet deal. The pair agreed it would be the first of many deals which would bolster relations between the two countries.
Turkish tourism floundered last year in the face of geopolitical instability. This year, tourism officials are working hard to address visitor numbers. We examine the latest measures taken to try and bring that number back up, including using Syrian refugees to bolster the industry, as well as diversification.
Cyprus and Northern Cyprus leaders are sitting down this week to try and thresh out a solution to a problem that's remained unsolved for more than four decades: the reunification of the two parts of divided Cyprus. Officials remain hopeful - but no one really knows which way they'll go.
An unprecedented cold snap has pushed temperatures below their average by 10 to 15 degrees, and sent snow that has seen the cancellation of 800 flights. Meanwhile, the Eurasia Tunnel has opened to great fanfare and excitement - especially by commuters who will save an estimated 52 million hours in travel time.
The ever-growing city of Istanbul seems to be growing upwards. Construction is booming, and with it, giant buildings are appearing all over the city. Already the tallest city in Europe, Istanbul's set to become one of the tallest on the planet. Cameron Deggin explores some of his favourite Istanbul city skyscrapers.
The lira's loss in value has prompted a scramble by the Turkish public to exchange their dollar reserves into lira or gold - and inspired a wave of patriotism amongst the public, with businesses offering incentives for people with proof of currency conversion. Meanwhile, President Erdogan is assuring the public that the volatility will not affect the economy in any significant way in the long term.
Turkey's economy and trade relations with the US will improve under a US-led trump, says the head of the Turkish-American Business Association, who says he's optimistic about bilateral ties between the US and Turkey. In other Turkish news, the government is implementing measures to bring economic growth to the country - and improve tourist numbers, which fell this year amidst political uncertainty.
A 41% rise in the number of properties bought from July to August clearly shows any lingering doubt after July's coup attempt has passed. The number of property sales around the country has risen, with Istanbul retaining its top spot and Antalya coming in second place. Property Turkey director Cameron Deggin says the numbers are testament to Turkey's enduring economic success.
Turkey's geographical significance as a bridge between east and west has played a large part in the country's fortunes. Now, its pivotal position is set to turn the country into an energy hub. Turkish President Erdogan and Russian President Vladimir Putin have signed an agreement signalling the beginning of the new pipeline that will bring natural gas resources from Russia, through Turkey and to the European market. It's a chance for Turkey to transform to a world energy leader, and will have significant impacts on the country's economy.