In a showing of the continued diversity and acceptance of other cultures, Turkey has announced plans to build a brand new Church in the country for the first time in nearly 100 years. Since the Republic of Turkey was founded in 1923, there have been no new churches built, only restoration and renovation of existing buildings, making this a significant announcement of intent by the current government.
Turkish property & economy news
As we move into 2015, foreign sales of property in Turkey are set to top more than 5 billion USD in sales as the market continues to grow and more and more expats and people look to relocate to Turkey. Date released by the Turkish Statistical Institute shows that sales in 2014 increased a huge 59% from the year before - is there any stopping the Turkish real estate market?
A major underground city, believed to be the largest archaeological find of 2014, has just been discovered in Nevsehir, Turkey adding to the area's already acclaimed culture tourism fame, thanks to its fairy chimney rock formations that attract millions of tourists to this central Anatolian province each year. The underground city, which is believed to occupy a 7km zone under Nevsehir fortress is made up of 1000's of inter-connected rooms and towns. The discovery came as a result of..
Russian President Vladimir Putin visited Ankara, Turkey on Monday, meeting with Turkish President Recep Tayyip Erdogan in a huge meeting revealing intentions to increase bilateral trade between the two nations up to a huge 100 billion USD annually by 2020. We take a look at the importance of this, as well as the relationship between two of the worlds most outspoken leaders.
More foreigners bought property in Turkey in 2014 than ever before, spending over a billion Euros on homes in Antalya, Istanbul real estate and other coastal destinations like Fethiye, Bodrum and Marmaris. It was also a bumper year for tourism, with visitor numbers expected to reach 43 million by the end of 2014. Increasing demand for property stems from greater numbers of luxury overseas home buyers discovering Turkey's stunning landscape at bargain prices, and investors snapping up buy-to-lets to cater for the growing holiday crowds. Industry experts predict that 2015 will be even greater, as Turkey's economy continues to expand.
Food news coming out of Turkey as Yildiz Holdings announce the acquisition of United Biscuits - the UK company behind the household brands McVitie's, Jaffa Cakes, and Penguin to name a few. The deal, worth around £2 billion, sees Yildiz move up to number three in the world for biscuit production and sees the Istanbul based company cement their ambition to place a strong foothold in the UK.
The first four months of 2014 saw a record number of property sales as numbers reached more than 5,000 units sold - up nearly 50% on the same period in 2013. With the real estate market seemingly on the upwards trend, we take a look at the the reasons for Turkey's continued success in the market, as well as a look into why some region's have not performed as well this year as they have in previous years. Take a look at our 2014 real estate review and future outlook.
Turkey has been in the spotlight in recent months thanks to the ISIS conflict happening over the border. However, regional unrest has not put a dampener on tourist numbers. In fact, the contrary has happened, with record numbers of visitors heading to Istanbul, Antalya and other regions. Why has Turkey been so successful? A successful marketing campaign has helped highlight the country’s assets, while tourism diversification has seen the rise of health tourism, conference hosting and cultural holidays. Turks are also beginning to take more holidays within the country, further boosting numbers.
BREAKING NEWS After hours of talks today, the Turkish parliament has decided to step up the country’s involvement against the terrorist state ISIS, whose fighters are currently advancing through Syria and Iraq. Turkey has thus far avoided joining the coalition of countries striking against ISIS, but the compromised security, including that of a historical Ottoman tomb located on a Turkish enclave in Syria, has changed this. Turkey’s stability has not been compromised by the fighting, but as it approaches the borders the country will need to act to ensure its reputation as a safe bridge between east and west remains intact.
One of the world's biggest football teams, Chelsea FC, has announced the signing of a multi-year agreement with Turkey's national airline Turkish Airlines that will see the airline become the main sponsor across their shirts from the beginning of next season. Worth around £25 million pounds per year, the agreement will see European's fourth largest carrier and one of footballs most successful teams join forces for an adventure where only the sky is the limit.
EU Minister Volkan Bozkir has announced a new plan and strategy designed to improve the relations between Turkey and the European Union and help speed up the accession. The "National Action Plan for EU Accession" will be finished by 2019 and will bring the nation one step closer to becoming part of the EU, while easing any fears that Turkish people may have about joining. Centred around three principles: determination, continuity, and effectiveness - the strategy will focus on prioritising the interests and benefits of Turkish citizens while improving the communication between the EU and Turkey.
Recep Tayyip Erdogan has officially been unveiled as the new President of Turkey following a political campaign and a victory represented by a 52% majority vote in the first ever Turkish direct presidential election. After a successful career as Turkey's longest ruling Prime Minister, all eyes will be on Erdogan to see what is in store for Turkey with this new shift of balance. The former PM has successfully overseen a large amount of the continued growth of the economy and other matters in the last ten years, is Turkey set for a sustained period of growth? Is this a good move for the nation? We take a look at what might be in store over the next few years.