Turkish property & economy news
10 October 2019
Overall Turkish Property Sales Up By 5% Official data has been released which confirms a rise of 5.1% in overall Turkish property sales in August 2019. The first seven months of this year have all seen general property sales slide whilst sales to foreigners have risen, however, thanks to the Central Bank cutting interest rates, not only has the economy been boosted but property sales have too.09 October 2019
Dodging sanctions, Iranians turn to Turkish property US sanctions are taking their toll on Iran. However, Iranians looking for a way to transfer their currency out of the country have found a loophole: Turkish property ownership. Over the last year, 250 Iranians have gained a Turkish passport by investing in property, and more are set to follow.30 September 2019
Driverless Metro System Coming to Istanbul Residents in Istanbul will soon have the opportunity to use a completely driverless infrastructure which is currently in development stages. The metro system will be developed solely by Turkish engineers using locally sourced components with an expected completion in 2021.30 September 2019
Exports from Automotive Industry to Russia to top 500 million USD Orhan Sabunca, the Vice Chairman of the Uludag Automotive Industry Exporters Association (OIB) announced that it is expecting exports of vehicles and auto parts from Turkey to Russia to exceed 500 million USD by the end of this year. The announcement was made after the MIMS Automechanika fair held in Moscow.26 September 2019
As Indian crisis grows, we look to Turkey's banks The last week has seen customers of India's PMC Bank reeling at the news they won't be permitted to withdraw more than $14 over the next six months. The case has highlighted bank vulnerabilities, particularly in emerging markets. We take a look at Turkey's banking fundamentals.24 September 2019
Turkey will swerve recession, says IMF The news that Turkey's not about to slide into recession will be cause for celebration among investors. Steps taken by the Turkish government to shore up the economy against a decline have resulted in green shoots and a promising outlook for 2019. A new economic program on the cards will further pinpoint ways the country can improve.22 September 2019
Turkey's bounce-back 'impressive' says expert Turkey's bounce back from last summer's challenge was "impressive", says an expert from Fitch Ratings. "Turkey has shown a very impressive resilience, flexibility, and recovered and stabilised from the financial crisis of last summer."20 September 2019
House Sales To Foreigners Boost Turkish Furniture Sales The surge of foreign buyers purchasing houses in Turkey has seen the furniture market flourish. According to sector specialists, this is mainly due to the program that is run in Turkey to gain Turkish Citizenship by investment in real estate.20 September 2019
Russians No Longer Require Visas To Visit Turkey The Turkish Foreign Minister has released a statement confirming that Russians wanting to visit Turkey will no longer require a visa to enter the country. This is valid reciprocally for officials, holders of service passports and international drivers of transport. Turkish special passport holders are also included in these new measures introduced.17 September 2019
Visitors to Antalya reach over 8 million for first time ever Antalya, the resort city of Turkey has recorded an all-time high in the first seven months of this year, exceeding eight million foreign visitors for the first time ever. It appears that this trend is to continue and see the overall visitor numbers increase and end the year on a high.17 September 2019
Turkey welcomes 25 million visitors from January to July Data published by the Culture and Tourism Ministry recently confirmed that in the months from January to July this year Turkey welcomed just fewer than 25 million foreign visitors in total. This is a massive increase of 14.1% from the same time last year.15 September 2019
Invest in Turkey, says head of development bank When EBRD president Suma Charkrabarti visited Turkey, he made his feeling about the country's potential clear. Turkey's large market, unique location and economic diversity makes the country an ideal investment destination, he said, adding that his organisation believed in Turkey, which is why it was investing.
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