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.
First international passengers touch down in Bodrum
The first tourists to Bodrum for the season were welcomed with open arms on Monday -- and a wish from industry insiders that 2021 will be a bumper year, after a fallow 2020. Measures have been taken to keep tourists and hospitality workers as healthy as possible, by way of a scheme that has introduced regulations for tourism facilities.
Erdogan determined to cut rates, build controversial canal
President Erdogan has vowed to slash interest rates and plough ahead with the controversial Canal Istanbul project, a multi-billion dollar venture that will see part of Istanbul bisected to make way for an alternative route to the Bosphorus Strait. Always a proponent of low interest rates, Erdogan has stated his intention to cut the benchmark 19%.
Along with Asia and Africa, Istanbul is eyeing downunder destinations
For Istanbul Airport, Australia is the last frontier: the last continent to which the transport hub needs to connect. And that's certainly a possibility in the future, says the airport's chief executive officer. Other destinations on the list also include Asia and Africa, tapping into huge markets that can travel to Turkey or use the airport as a jumping off point to Europe.
More foreigners are choosing to move to Antalya
The bustling city of Antalya in Turkey’s Mediterranean usually plays host to almost 15 million visitors per year. Antalya is amongst the favoured destinations for foreigners and expats in Turkey who have decided to move and take up residence in the country over the past few years.
Turkey donates and exports 5,000 Ventilators
The Industry and Technology Minister of Turkey, Mustafa Varank recently announced that Turkey has donated or exported at least 5,000 locally manufactured medical ventilators during the coronavirus pandemic to various locations worldwide in an effort to help other countries that are struggling with the virus.
Tourism in Turkey set to boom in 2021
The Chairperson, Firuz Baglikaya, of the TURSAB (Turkish Travel Agencies Association) recently confirmed that whilst tourist demands from European countries fell last year during the coronavirus pandemic, UK visitors continued to travel. If the pandemic continues in the same vein, large number of holidaymakers from the UK are expected this year too.
Two new Subway Lines to open in Istanbul
The Transport and Infrastructure Minister recently announced that Istanbul is getting two new subway lines, which will total 8 miles (12.9km). Adil Karaismailoglu explained that the first of the lines will be located on the city’s Asian side in the Uskudar district and is set to span between the neighbourhoods of Altunizade and Camlica.
Galataport project set to be operational in April
President Recep Tayyip Erdogan announced that the Galataport project in Istanbul will be operational by April. During the launch of a cinema museum and refurbishment of a historical theatre, the president said: “Galataport is a worldwide project with the potential of drawing 25 million visitors, 7 million tourists and 1.5 million cruise passengers.”
Automotive sales in February increase by 24.2%
Sales in Turkey’s automotive industry increased by 24.2% in February when compared to the same time last year according to a recent industry group report. In the report, the Automotive Distributor’s Association (ODD) said that in Turkey, commercial vehicles and passenger cars sales had surpassed 58,500 in February.
With no need for a vaccination, British tourists queue for Turkish summer holidays
An announcement that British tourists won't need vaccination certificates to travel to Turkey has prompted a wave in bookings as Brits planned summer holidays to favourites like Antalya, Bodrum and Fethiye. Culture and tourism minister Mehmet Nuri Ersoy said Turkey was looking forward to welcoming British tourists "with open arms".
Turks eye housing market via interest-free scheme
An Islamic-based lending system has been tightened up to allow Turks -- especially young, first-time buyers -- a way to bypass the eye-watering interest rates and find a way into the domestic housing market. Property Turkey director Cameron Deggin says the scheme will boost the market -- and add competition for international investors.
2021 tourism in Turkey helped by top COVID-19 measures
According to the former secretary-general of the UNWTO, it will be quickly possible for tourism in Turkey to get back to pre-pandemic visitor numbers provided the country keeps measuring and proving to tourists that it is a safe place to visit.