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.
The Brits are back: thousands heading to Turkey
With the relaxing of rules around returning travellers, Turkey is expecting a flurry of bookings from Brits who have missed out on their summer holidays this year. Major holiday booking sites experienced a spike after the announcement, with Jet2.com reporting a 250% increase in the number of people searching for overseas holidays.
Number of Turkish Internet users up to 82.6%
The Turkish Statistical Institute (TURKSTAT) recently confirmed that there has been a huge increase in the number of internet users in Turkey, as well as a boost to the number of households that have internet access. In terms of internet users, figures show that there has been an increase from 79% last year to 82.6% this year.
Event tourism now returning to Turkey
The event industry in Turkey is seen as a major part of global tourism and is now seeing a bounce back from the havoc caused by the Coronavirus pandemic. This long-awaited return is set to speed up both the accommodation and tourism sectors.
Target of Zero Emissions for Istanbul Airport By 2050
The Airport Council International (ACI) oversees 238 worldwide airports and recently announced a new initiative with Istanbul Airport, confirming their pledge to achieve net-zero CO2 emissions by 2050. IGA, the operator said that they are working towards sustainable development and the commitment to zero-emission is just a small part of their plans.
Turkey joins European COVID-19 Passport Program
The European Commission recently announced that they will accept COVID-19 certificates from Turkey. The executive body of the EU made the same decision to accept certificates from both Ukraine and North Macedonia. This decision sees Turkey joining the bloc’s COVID-19 pass protocol, which moves travel to and within the bloc.
Rentals climbing sky-high in Istanbul
High prices are impacting first home buyers, who are in turn staying put in rentals, driving prices for rental properties up. While it's bad news for these buyers, investors with rental properties are sitting pretty, earning hefty rental incomes on top of capital gains.
In Q2, Turkish economy grew, expanding almost 8% in 2021
In the second quarter, Turkey’s economy is likely to have surged 21.7%; this is mainly due to a rebound from a steep fall which would have been caused, according to a poll, by the restrictions from COVID-19 last year. This would bring about an expansion for the full year of 7.95%.
UK and Turkey to talk about widespread free trade deal
Next year, London and Ankara will enter into negotiations regarding more widespread trade deals as a way of adding new areas for a greater mutual commercial cooperation. Both countries signed a post-Brexit free trade agreement (FTA) last year in December; this was done in order to support a trade deal worth over 25 billion USD, TL 209.42 billion.
Istanbul's Galataport ready to swing into action
Galataport, Istanbul's US$1.7 billion cruise ship port is about to welcome its first cruise ships. Located in the city's Karakoy district, the huge project can accommodate three ships a day and 15,000 daily visitors. As well as a transit hub for cruise ship passengers, its management hopes Galataport will become a major tourist destination.
Bodrum makes Time Magazine's greatest places list
We knew it, now everyone knows: Bodrum is one of the greatest places on earth. Time Magazine's list of the world's 100 greatest places includes this beautiful southwestern peninsula, with its ancient relics, sunny beaches and upmarket hotels. Despite the challenges raised by the pandemic, this tourist hub is thriving.
Pandemic drives Princes Island property prices skyward
If the pandemic has made us realise one thing, it's the value of fresh air and space. This newfound realisation has caused a number of societal shifts. For many in Istanbul, it's prompted a drive to get out of the city. While property in the central city remains as desirable as ever, some are opting to seek out new horizons, pushing prices up in peripheral areas.