Turkish property & economy news
17 January 2014
Heavy crude oil discovered in Turkey Iraq border Turkey has made an oil start to 2014 with the discoveries of 3 oil reserves in 3 different parts of the country. In addition, Iraqi Kurds announced that 12 million barrels of crude oil will be pumped to Turkey from end of January 2014. Turkey has announced its own agenda to start serious explorations for crude oil. A key player in Iraqi Kurdish oil will be newly formed Genel Energy of Rothschild merging Turkish Genel Energy International with an IPO backed entity. Will the discovery of new oil reserves have an impact on property prices in Turkey?17 December 2013
Why Turkish Lira weakening against USD August 2013 Recently you may have seen that the Turkish Lira has weakened against the USD and other hard currencies in the world. In this news post, we take a look at why this has happened, and answer the question of whether Turkey is still a strong nation for investors to place their money.13 November 2013
Europe to Asia in 4 minutes thanks to Marmaray Istanbul After the opening of the first tunnel in the world that connects two different continents in just 4 minutes, the brand new Marmaray tunnel connecting European and Asian sides of Istanbul is set to lead a revolution of infrastructure in Turkey by Recep Tayyip Erdogan including the opening of a 3rd airport and a 28 mile long canal. No doubt these will pay dividends to the nation's prospering economy in the long run by opening a wave of new trade links and business possibilities for Turkey.09 October 2013
Turkey 2013 growth 25% above global GDP index As Turkey revises its annual GDP growth rate for economy down to 3.6% for 2013 it still manages to remain over 25% above the global expansion index for the year. A soft landing for Turkey that plans to grow at a rate of 4% pa in 2014 - 2016 period whilst IMF underlines much lower predictions for India, Russia and South Africa. Ali Babacan states that Turkish economy is being well managed for years ahead02 October 2013
Reforms mark the dawn of new Turkish liberalisation New reforms announced in Turkey have been heralded as a new beginning of liberalisation in the nation following months of negotiations and talks between different parties. Prime Minister Erdogan said the reforms represented a “fundamental and historic phase” of Turkey’s march toward democracy.24 September 2013
Will Istanbul host the Euro 2020 Final in Turkey? Istanbul has been named as the favourite to host the prestigious Euro 2020 Semi-Finals and Final. UEFA President Michel Platini even going as far to state that he will certainly vote for the city. What would this mean for Istanbul? And how will the city capitalise and grow hosting the Finals?10 September 2013
Turkey clamps down on illegal waterfront property Following a visit from Turkey's Prime Minister to Bodrum, it has been discovered that many properties in Bodrum currently violate rules and will have to be demolished in a move being praised by environmentalists and will ensure the future of Bodrum with a beautiful coast and seafront. Find out why in this news article.07 July 2013
Tourism sector’s 1.5 billion boost set to lift property mark Recent news has surfaced to show that the Turkish tourism industry saw an influx of more than 1.5 billion liras in investment in the period between January and April of this year in a total of 130 different investment projects. This article takes a look at why investors are loving the Turkish tourism industry and what the future holds for the industry.07 July 2013
Russians top Turkey property buyers Recent data has shown that Russian property buyers are flocking to Turkey, purchasing a total of 2,313 homes in the last year alone since the easing of the laws making buying a house in Turkey easier than ever before. This news story takes a look at why Russians love Turkey and why Turkey loves Russians.07 July 2013
Middle Eastern investors eye Turkey With more than 2000 properties sold to Middle Eastern buyers in the last eight months alone, it comes as no surprise that investors from the region are eyeing Turkey more and more. Due to the recent reciprocity change, buying a property in Turkey has never been easier, attracting more Middle Eastern investors and this news article looks at why.07 July 2013
Turkey an ‘attractive market for investment’ Turkey has reached an astonishing level of Direct Foreign Investment with recent statistics showing that the country has reached a total of $138 billion - showcasing just why Turkey is an investment hotspot for businessmen around the world. This news article shows why Turkey is such a hot market and appealing destination at the moment.07 July 2013
Fethiye voted best retirement spot in Mediterranean What makes Fethiye such a property attraction for those looking for a home abroad? We take a look at a recent announcement by a lifestyle magazine which placed Fethiye top for best retirement spots along the Mediterranean, beating several other favourite spots along the way. Taking into account, living costs, property prices, weather, ease of settling in - Fethiye was found to be the clear number one.
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