Turkish property & economy news
07 November 2019
Istanbul's mansions on sale as Turks wrestle debt Fifty-two of Istanbul's stately yali, the waterfront mansions built during the Ottoman era, are for sale. As Turks struggle to repay foreign debt, they're jettisoning their homes, presenting incredible opportunities for foreign buyers. While these mansions don't come cheap, they are unarguably a slice of history worth owning.02 November 2019
Amazon invest in Turkey for the long term Just a year after Amazon first launched its operations in Turkey, it is planning a long term investment and relationship. As the biggest e-commerce platform in the world, Amazon and Bogazici University now offer a training program to help small and medium sized business in Europe.02 November 2019
Foreign visitors top 31 million in Turkey According to data from the Culture and Tourism Ministry, in the first eight months of this year there have been over 31 million foreign visitors welcomed in Turkey. In the January to August period, data shows that visitors are up by 14.7% on a year-by-year basis.31 October 2019
In Istanbul, a new Chinatown is growing Attracted by marketing campaigns, easy investment opportunities and Turkish citizenship, the Chinese are moving into Istanbul. As with other global hubs, the new arrivals are making themselves at home in a designated corner of the city, and a new Chinatown is emerging in a once rundown central neighbourhood.24 October 2019
Millions of Iranians set to visit Turkey in 2020 The number of Iranians visiting Turkey is increasing year-on-year due to improved relationships, promotional marketing and paying special attention towards what their visitors want by ensuring all of their needs are met.24 October 2019
Tourist spending in Turkey up by 70% The growing number of people visiting Turkey has resulted in an increase of 70% in shop purchases when compared to the same period last year. These figures came about from a survey that was carried out by Global Blue.24 October 2019
Istanbul’s serviced apartments offer mega returns More tourists than ever before are visiting Istanbul. And these visitors are changing the city's tourism profile, as they opt for a new way of travelling. The rise in popularity of serviced apartments means opportunities for investors looking to capitalise on the trend. We look at some quality developments in areas like Sisli, Maslak, Beyoglu and Zeytinburnu.20 October 2019
Erdogan's gamble against Trump pays off in Syria US sanctions have impacted on Turkey. But Erdogan has ignored them, banking on the fact that his country's strategic and regional position makes it an indispensable US ally. And it looks like the Turkish leader has been proved right, with a deal he's struck with Trump that has landed him a long-sought buffer zone in Syria.17 October 2019
Hotel occupancy rates in Istanbul better than London Data recently released by TUROB (Hotel Association of Turkey) confirmed that in August Istanbul ranked in the top ten cities in Europe with regards to hotel occupancy rates. Istanbul claimed the seventh place above Barcelona, Budapest and London on a recent list of 35 vacation destinations.15 October 2019
2023 Tourism targets revised in Turkey Minister Mehmet Ersoy recently announced that Turkey will make up the tourist losses due to the bankruptcy order against the UK holiday operator, Thomas Cook. Ersoy, the Culture and Tourism Minister also confirmed that more airlines are expected to increase the number of flights they make into the country.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.
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