21 December 2020
Turkish real estate market to hit sales target by end of the year Real estate purchases made in Turkey by foreigners in 2020 are set to reach a total of more than seven billion USD as the year ends. Although there have has been a slump in the total number of units sold because of the COVID-19- pandemic, a sector representative said sales will hit target figures thanks to a recent upward trend in buyers and their spending.20 December 2020
Qatar Holding to buy $1 billion stake in Istanbul shopping mall According to a recent report, the Dogus Group in Turkey are on the brink of selling their 42% share of one of the largest and most prominent shopping malls in Istanbul, Istinye Park, for one billion dollars (TL 7.75 billion) to Qatar Holding LLC.20 December 2020
World’s biggest Sovereign Wealth Fund invests more in Turkey The Norwegian 1.6 trillion USD Sovereign Wealth Fund has expanded its investments in Turkey, with their most recent purchase being a stake in a company that produces confectionary. As of December, the Sovereign Wealth Fund has invested 800 million USD in a variety of Turkish companies.20 December 2020
Turkish real estate investments by foreigners top 8 billion USD According to a report released by the Andolu Agency, to date foreigners have invested 8 billion USD in Turkish real estate. Data gained from the General Directorate of Land Registry and Cadastre of the Ministry of Environmental and Urbanisation confirmed that most foreign buyers purchased in Istanbul, which totalled 18.4 billion Turkish Lira as of the end of October 2020.20 December 2020
Turkish lira set to climb, and with it, property prices Turkey's depreciated lira has been a hot topic. However, with Turkey's new central bank governor working to curb inflation and stabilise the currency. Property Turkey director Cameron Deggin says it's never been cheaper to buy a property with foreign currency, but warns with the lira about to climb, this is a state that is strictly temporary.11 December 2020
Turkey's property prices are growing faster than anywhere in the world Cheap lending has seen a surge of demand in Turkey's housing market, resulting in an upwards movement in house prices. A report from Knight Frank shows that Turkey's house price growth was highest in the world for the third consecutive quarter. Property Turkey director Cameron Deggin said the report chimed with his experience over the last few months, as buying continues apace.03 December 2020
Bodrum's expanding its out-of-doors tourism with agricultural destinations This year has represented a seismic shift for tourism, with dwindling numbers of visitors affecting bank accounts and the wider economy. Now tourists are heading back to tourist destinations, but they're operating by a different set of rules. Turkey's tourism operators are responding, with new destinations catering to a socially-distanced world.02 December 2020
Government stimulus sees Turkey outperforming peers in third quarter In a year that's been a challenge for almost every country on the planet, Turkey's economy has outperformed expectations. The third quarter of 2020 saw the economy outperform its peers. However, the fourth quarter will see a slowdown as interest rates climb and the country introduces measures to deal with the resurgence of coronavirus.24 November 2020
A few economic tweaks are bringing once cautious investors back to Turkey After a tumultuous year, stability is welcome. Tweaking of Turkey's economic and financial landscape means investing in Turkey is a secure prospect for foreign investors, who are returning to Turkey after holding off in a year where unpredictability has reigned. Nothing stimulates a market more than stability and opportunity, both of which Turkey looks primed to deliver moving into 2021.17 November 2020
Despite pandemic, foreign property sales in Turkey reach $7bn It's been a year we'll never forget. Pandemic conditions put the brakes on daily lives and routines, and life came to a grinding halt. But not, it seems, in Turkey, where foreign buyers bought up big. An insider predicts that this year, foreign property sales will reach $7bn. Property Turkey director Cameron Deggin puts this down to a shift in thinking.17 November 2020
Turkish real estate sales continue to rise House sales in Turkey have recorded the second-best September on record, with representatives in property sales remaining optimistic about how the rest of the year will pan out – sales to foreign buyers are expected to exceed 40,000 by the end of 2020.17 November 2020
Istanbul Airport and the High-Speed Metro According to the Transportation and Infrastructure Minister of Turkey, the new high-speed metro train line that will connect the city to Istanbul Airport will be completed and open for use by the end of April next year.