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.
24 January 2020
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.
With tourism on high, Turkey's entering a bright new era
Tourism is booming, and the numbers look good. With a tourist industry that's no longer dependent on sea, sand and sun, Turkey's diverse drawcards are working their magic, attracting millions of visitors and putting much-needed money into the economy, which relies partly on tourism for growth.
71 Bosphorus Mansions are for sale in Istanbul
There are currently 71 mansions situated on the waterfront of the Bosporus that are currently for sale. An expert who oversees many of the Istanbul mansion sales confirmed that: “The combined value of this luxury estate stands at approximately TL10 billion which equates to 1.68 billion USD.”
This year, thermal tourism boosted Turkey's economy by $1bn
Three million tourists visited Turkey's 1500 thermal springs this year, adding $1 billion to the Turkish economy. Turkey's geothermal tourism is growing, as the country seeks to expand its health tourist sector. Overseas visitors are discovering how quick and easy it is to reach some of these incredible attractions.
Rule change could make 2020 the year of bargain property in Turkey
Getting a Turkish residency visa was once as easy as 1, 2, 3. But from 1 Jan 2020, it will no longer be possible for tourists to secure residency with a rental property contract. Property Turkey director Cameron Deggin believes this law change will precipitate a flood of interest in bargain property.
Radisson Hotel Group to expand in Turkey
Radisson Hotel Group announced plans to increase the 4,500 beds they currently offer to a massive 10,000 in Turkey. Radisson sees Turkey amongst its top ten markets across the world, and looking to expand into the provinces of Hatay, Gaziantep, Van, Osmaniye and Kars.