Turkish property & economy news
28 December 2021
Istanbul set to launch fastest Metro Line A new Metro Line has been running trials to connect Gayrettepe to Istanbul Airport. The line is due to open next year and will be the fastest line in the city with the capability of travelling at 120kph. The Transport and Infrastructure Minister was present at the trials and added that the Metro Line would also be the first to use the country’s signalling system.28 December 2021
First Libyan Ferry arrives in Turkey in decades After decades, the first passenger ferry from Libya docked at the Aegean coast in the Izmir province of Turkey. The ferry, “Kevalay Queen,” departed from Misrata, the Libyan port. The ferry, carrying 107 passengers anchored down at the Alsancak Port in Izmir and this was the first time in 25 years that the route has been used.27 December 2021
Investors make gains as lira comes back with force After government intervention, the lira made record-breaking gains last week, ending 50% up on Christmas Eve. Investors who bought property at the bottom of the currency are now cashing in, and there's more growth set to come, analysts say.20 December 2021
According to UK survey, Istanbul is cheapest city to relocate to In a recent survey conducted in the UK, Istanbul was rated as the most affordable city in the world to relocate to and start a new life as an expat. The research looked at a range of things including property prices, cost of living, and average wage.20 December 2021
Christmas wreaths made in Antalya used in homes throughout Europe Every year in the southern province of Antalya, people work hard to create beautiful and decorative wreaths that will go on to be displayed around homes in various countries, but particularly in Europe during the Christmas and New Year’s celebrations.18 December 2021
Turkish house sales to foreigners hits record high Buyers are flocking to Turkey to take advantage of the rock-bottom Turkish Lira. The influx of interest has resulted in a month like no other: a huge 48% rise in property sales in November. The 7363 properties represents the highest number since records began in 2013.10 December 2021
Relocating? Istanbul is top affordable spot A UK study has revealed that Istanbul is the most affordable city for anyone looking to relocate. Living costs in Turkey's largest city are a staggering £15,000 lower than the average city, and an eye-watering £41,000 less than Basel, which took out the least affordable city spot.03 December 2021
The lira's sliding, what now for property buyers? Turkey's lira is making the news again. If you're a Turkish citizen, the news is bad. But if you're a buyer, especially with dollars or pounds, opportunity knocks. Property Turkey director Cameron Deggin says business is booming, and if you're an investor, the time is now to make your move.30 November 2021
Upwards of 103.5 million arrivals at Istanbul Airport Despite the worldwide COVID-19 pandemic that has brought the airline sector to its knees last year, Istanbul Airport has welcomed over 103.5 million people in the past three years since first being opened, as well as receiving multiple top accolades and international awards.30 November 2021
Bill Gates looking at investments in Turkey? According to a popular Turkish daily newspaper, one of the world's wealthiest individuals, Bill Gates, is reported to be enjoying both work and pleasure while on vacation in Turkey, after being seen breakfasting at the mansion of one of Turkey's most powerful businessmen.29 November 2021
Turkish hotels busy despite tourism season being over The Russian Union of Travel Industry (RST) chairperson said that although the winter period will soon be upon us, Turkish hotels are still enjoying high occupancy rates with tourists continuing to holiday, and in affect, extending the tourism season in Turkey.22 November 2021
Turkey expecting 50 million tourists by 2023 According to the Culture and Tourism Minister, Mehmet Nuri Ersoy, Turkey aims to attract 50 million tourists and increase tourism revenue to $50 billion by 2023. As part of his visit to Qatar, Ersoy stated there are major tourism projects in Turkey's Aegean region that will benefit the national economy for the next 50 years.
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