Turkish property & economy news
16 June 2020
Furniture Production in Turkey Booms Turkey’s furniture sector has accelerated production in preparation for the post-pandemic period as the country begins to ease measures which were set in place to protect against the coronavirus. As COVID-19 spread globally, many sectors had to cease or seriously reduce their businesses in various countries which included Turkey.16 June 2020
Turkey reopens and Europeans start booking holidays June 1 saw Turkey reopen tourist spots and hotels across the country, whilst also resuming intercity travel and domestic flights. By the middle of June, the country opened flights to foreign visitors as the country adjusts to the new normal.16 June 2020
The Grand Bazaar in Istanbul reopens to visitors Due to the coronavirus, the Grand Bazaar was forced to close its doors on March 23. There are nearly 3,000 shops that employ over 30,000 people in the Bazaar and after completing a deep clean, the Grand Bazaar opened again after a two-month closure.11 June 2020
Turkish real estate sales surge as govt offers Turks unmissable deals We're hearing a lot about a post-covid slump. But the reality is very different: in Turkey, industry experts are predicting as many house sales in the next two months as in a normal year, thanks to a collaboration between Turkey's three largest banks and state developer Emlak Konut, who are helping first-time buyers to get off the blocks and onto the property ladder.09 June 2020
Trade between Turkey and UK could reach 20 billion USD In a report from a top Turkish business leader, he spoke of how British officials are aiming to boost bilateral trade with Turkey to reach 20 billion USD by the end of 2023. Osman Okyay, the head of the Foreign Economic Relations Board (DEIK) Turkey-UK Business Council said that the bilateral trade value last year stood at 16.3 billion USD.09 June 2020
Turkish Shopping Malls already reach 65% of their turnover May 11th saw some shopping malls in Turkey open again as part of the country's efforts to ease the measures put in place due to the coronavirus. It has been reported that some have already reached up to 65% of their turnover.05 June 2020
Turkish economy to bounce back by 6% next year Due to the impact of the Coronavirus pandemic, the Turkish economy, as well as many other countries expect their economies to shrink this year. However, the European Bank for Reconstruction and Development (EBRD) has forecast that the Turkish economy will bounce back next year by 6%.05 June 2020
Local businesses in Turkey expected to recover swiftly Ruhsar Pekcan, the Turkish Trade Minister announced recently that Turkey is to reopen the economy on the 1st of June. The country had been in lockdown for over two months because of the Coronavirus.03 June 2020
Could caravan holidays be the next big thing in Turkey? As Turkey prepares to move into a post-coronavirus world, tourism operators are trying to anticipate what tourists might want, and that includes socially distant holidays. The owner of a caravan park in Izmir, on Turkey's Aegean, is one such operator pivoting in the new climate. He has fielded three times as many clients as usual, he says.27 May 2020
When can I fly to Turkey? Sooner than you think Turkey's coronavirus success has meant the country is poised to make a swift recovery. Tourism, a mainstay of the Turkish economy, all but closed during the pandemic. Now, the country is poised to open its doors, with countries making a staggered return starting on June 1.20 May 2020
Turkey emerging as top post-pandemic investment market Whilst the short-term perspective of the global economy is looking disappointing due to severe contractions from the COVID-19 Coronavirus outbreak, experts suggest that early indications are showing that Turkey is an emerging market that will offer excellent investment opportunities despite the diminution.20 May 2020
Despite the Coronavirus Turkey sees auto sales up 44% in Q1 Data released has showed that the sale of automobiles fell 23.6% in Europe in the first quarter after declining demand and increasing interruption in the global supply chains, whereas Turkey recorded a huge 44% increase thanks to strong demand.
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