Turkish property & economy news
29 September 2014
Turkish Airlines to be the main sponsor of Chelsea FC One of the world's biggest football teams, Chelsea FC, has announced the signing of a multi-year agreement with Turkey's national airline Turkish Airlines that will see the airline become the main sponsor across their shirts from the beginning of next season. Worth around £25 million pounds per year, the agreement will see European's fourth largest carrier and one of footballs most successful teams join forces for an adventure where only the sky is the limit.18 September 2014
Turkey’s EU plan takes shape EU Minister Volkan Bozkir has announced a new plan and strategy designed to improve the relations between Turkey and the European Union and help speed up the accession. The "National Action Plan for EU Accession" will be finished by 2019 and will bring the nation one step closer to becoming part of the EU, while easing any fears that Turkish people may have about joining. Centred around three principles: determination, continuity, and effectiveness - the strategy will focus on prioritising the interests and benefits of Turkish citizens while improving the communication between the EU and Turkey.16 August 2014
What’s next for Turkey’s newest president? Recep Tayyip Erdogan has officially been unveiled as the new President of Turkey following a political campaign and a victory represented by a 52% majority vote in the first ever Turkish direct presidential election. After a successful career as Turkey's longest ruling Prime Minister, all eyes will be on Erdogan to see what is in store for Turkey with this new shift of balance. The former PM has successfully overseen a large amount of the continued growth of the economy and other matters in the last ten years, is Turkey set for a sustained period of growth? Is this a good move for the nation? We take a look at what might be in store over the next few years.19 May 2014
New tourist visa changes by Turkey As of April 10, 2014 all passengers travelling to Turkey will need to have obtained the new electronic e-visa before entering Turkey as the nation moves ahead with plans to make it easier to fly or travel. At a cost of only £10.00 and saving time on waiting in long queues upon arrival, travelling to Turkey has never been easier for tourists looking to enjoy summer holidays at some of Europe's most loved beaches and coastal regions. Make sure you are well aware of how to apply and obtain the e-visa before embarking on your holiday to Turkey this year because failure to do so will more than likely result in refusal to board the airplane. All info you need is within including tips on how to avoid bogus websites or unncessary tourist agency fees.21 April 2014
Recep Tayyip Erdogan to become Turkish President? With Recep Tayyip Erdogan looking to increase powers of the Turkish President from a ceremonial role to a role whereby the president could exercise executive powers, speculation is growing that in the upcoming elections we could see a swap of positions between Prime Minister Erdogan and current President and AK Party founding member Abdullah Gul. What would be the implications of this? And how exactly could Erdogan go about implementing these transformation of powers? We take a look at the Presidential role of Turkey and what it means today, and what it could mean in the future.18 April 2014
Protests fail to deter tourists With the recent protests in Istanbul seemingly deterring people from travelling to Turkey, this article shows that actually, the tourism industry in Turkey has continued to fledge and prove a hot destination for millions of tourists who are planning summer holidays along Turkey's Mediterranean coast line with an increase of over 14% on the same period during last year.08 April 2014
Arab influx bolsters Turkish housing boom Last year, Arab buyers of property in Turkey snapped up 2,700 properties in the first ten months of the whole year - out of the 21,700 total purchased by foreign buyers, including those from previous top countries including Germany, the United Kingdom, Russia and the Netherlands. Following the reciprocity law removal in 2012, Arab buyers have been flocking to Turkey under the new conditions, and this year is no different, with revenue from property sales in Turkey expected to increase further again with analysts predicting $5 billion in sales for the year ahead.08 April 2014
Turkish Lira rallies into second quarter 2014 We predicted on 28 January 2014 when we said "invest now for maximum discounts and take advantage of falling Turkish Lira before it reverses again before the end of April 2014". We were spot on. Since the local elections of 30 March, Turkish Lira started rallying up against hard currencies just as we thought it would. Your window of opportunity to secure maximum discounts due to low Turkish currency is disappearing day by day as the Lira moves to reverse its losses and as Turkish government announces new positive economic indicators31 March 2014
Turkey votes for prosperity at local elections Turkish Prime Minister Erdogan's AKP manages to win a clear victory at local elections held on 30 March 2014 in what is seen as a major support for his popularity and governing party. According to many commentators, Turkey voted for continued prosperity and development. They voted for economic growth, improved health service and infrastructure enhancements, which AKP has been very successful in delivering since coming to power in 2002. Despite severe allegations by the opposition of misconduct by AKP officials (none proved) leading up to elections, it appears that Turks were not deterred from voting for their best economic interests.14 March 2014
Once Ottoman Crimea Haemorrhoid of Russia The once Ottoman ruled Crimea has been the focus point of international news for some time recently due to the increasing tensions between Ukraine and Russia over the region. The region is strategically important to both nations for oil pipelines and port access to the Black Sea for distribution of oil and gas, Crimea is seemingly at a breaking point with over 50% of current residents being Russian, 24% being Ukrainian, and over 10% having Turkish roots - we take a look at why is Crimea such an important region for all countries involved? And what is the likely outcome of the current tension between the nations?24 February 2014
Julianne Moore set to be the face of Turkey Oscar nominated actress Julianne Moore is set to become the new face of Turkey by starring in a series of new films shot later this year to promote Turkish tourism overseas worldwide and beyond. The multi-award winning actress will work alongside acclaimed documentary photographers such as the famous Steve McCurry to bring out the best of Turkey and show exactly why Turkey is currently ranked as the 4th best destination for tourism in Europe and 6th in the entire world by the World Tourist Barometer - those who have previously been to Turkey will know more than most what makes this nation such a difficult one to resist.01 February 2014
Turkish Central Bank raises interest rates to 12% With growing pressure from investors to intervene in the fall of Turkish Lira, Erdem Basci of Central Bank of Turkey raised overnight lending rates to 12% from 7.5% in an emergency meeting held on 28 January 2014. The size of the hike came as a shock to most analysts, who expected a rise but not to this magnitude. On the other hand, CBRT's decision to oppose Prime Minister Erdogan's suggestion not to increase interest rates was perceived as bold and positive indicating monetary policy independence. Erdem Basci wowed to rescue Turkish Lira and ensure that inflationary pressures are kept under control. Immediately after the announcement Turkish Lira recorded a sharp rise against USD on 29 January.
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