Turkish property sales, visitor numbers increase
Property sales and tourism have both risen dramatically this year after a less-than-stellar 2016. July saw a 65 percent increase in the number of properties sold to foreign buyers, while tourism across all areas is up, particularly in Antalya, where more visitors have arrived to date than during the entirety of 2016.
Turkish investment rises as confidence stays strong
Foreign direct investment in Turkey is up significantly, with a 50% increase on 2016. President Erdogan says this is proof that recent political tensions have not affected economic ties between Turkey and the European countries who stand much to gain from investing in Turkey. Turkey's Deputy PM has also announced measures to cut red tape for foreign investors.
Hoteliers push for Eid extension to boost tourism
Always looking for ways to improve income after two years which saw takings drop considerably, Turkey's hoteliers are asking the government to consider extending the Eid holiday to allow them to take advantage of the revenue that comes from the full occupancy Eid typically brings.
Where have all the Germans gone?
The Germans who once flocked to Antalya’s beaches and streets are disappearing, adding to an overall European decline. But tourist numbers are on the up, as hoteliers promote themselves and their country to new markets in the Middle East and the Balkans.
Foreign demand for Turkish property soars
House sales to foreign buyers soared by 25 percent in June, as post-referendum uncertainty gave way to an increased confidence in Turkish property. Government measures to increase investment and improve economic growth mean buyer confidence is back - particularly in Istanbul.
Ukraine visitor numbers soar as travellers forgo passports
An agreement between Ankara and Kyiv allowing citizens of each country to visit the other without passports is set to increase the flow of visitors between Turkey and Ukraine. Three quarters of a million Ukrainian tourists are set to visit Antalya alone this year, a rise of around 45 percent on the previous year. In other news, hotel occupancy rates across Turkey are up - although revenues are down.
Turkey’s growth tipped to top 5pc this year
Reforms and tax cuts are pushing economic growth in Turkey and stalling inflation in a bid to revitalise Turkey's economy. Growth is expected to be greater than 5 percent this year, and next year experts are hoping it tops 7 percent. At the top of the list are efforts to stall inflation, and a 180-day plan to kickstart the economy.
Turkey still firmly on Gulf buyers’ radars
Thanks to government reforms which include an offer of citizenship with a $1m property purchase, and the scrapping of VAT, Turkey is more popular than ever with Gulf buyers, who are increasingly turning to Istanbul for lifestyle and investment properties. Cameron Deggin of Property Turkey says the trend should continue as Turkey's economy strengthens.
Istanbul New Airport: almost halfway there
Istanbul New Airport is almost halfway there, says Turkey's Transport Minister. The behemoth project is on track for the first phase of completion next year, at which point it'll have the capacity to serve 90 million annual passengers. The construction is well underway, and with the first stage being almost twice the size of Monaco, you can appreciate the size and scale of the megaproject.
At last, Turkey’s tourist numbers are climbing
A huge rise in the number of Russian visitor numbers to Turkey pushed April visitor numbers up by 20%, resulting in an overall 1% increase in visitor numbers to Turkey in the first four months of the year. April marked the first time in 20 months that tourist numbers to Turkey rose. Analysts think momentum should increase as Turkey puts its instability behind it.
The measures transforming Turkey's property market
A number of government measures aiming to increase the number of buyers investing in Turkish property have been introduced in the last year or so. Tax cuts and incentives like offering Turkish citizenship to buyers spending more than $1m on Turkish property are helping to transform the property investment landscape in Turkey.
Hotel occupancy up, revenue down in Turkey
The last quarter saw a rise in hotel occupancy rates, a good sign that tourism is on the rebound. However, revenue is down as hoteliers struggle to entice visitors. Meanwhile, visitor numbers from the Middle East are up, while the tourist industry is trying to persuade Turks who'd usually travel abroad to stay at home and travel within the country this year.