News and articles
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Despite record low interest rates on mortgages provided by banks for the purchase of new apartments in Turkey, from January to August 2020, new home sales grew by only 11.2 percent compared to the same period last year. Sales of secondary housing, for which mortgage rates have been higher in 2020, increased by 63.3 percent. In August 2020, sales of...
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The Ministry of Environment and Urban Development of Turkey has announced a tender for the creation of a public garden in the city of Bolu, located on the old highway between Istanbul and Ankara. The project involves the creation of an extensive public forest park with a coffee shop, social facilities and infrastructure for family outdoor...
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During the coronavirus epidemic, real estate in Bodrum, the seaside city of Turkey, known as the most expensive Turkish resort, has risen in price even more. Turks and foreigners wishing to safely spend the coming winter months in self-isolation most often choose to buy or rent villas in Bodrum and Cesme. Therefore, today the highest real estate...
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The pandemic has accelerated the process of migration of people from Turkey's big cities to country houses as much as possible: summer cottages are becoming year-round housing and are more expensive in some regions than apartments in Istanbul. The desire to leave densely populated Istanbul makes hundreds and thousands of Turkish families move for...
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The Saudi Arabian authorities, which have decided to boycott goods from Turkey, are now boycotting Turkish construction companies implementing their projects in the country. While according to the 2018 stats, Turkish contractors completed projects in Saudi Arabia for a total of $3 billion, in 2019 this figure dropped to $560 million, and in the...
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In July 2016, a new law came into force in Turkey, allowing foreigners to obtain Turkish citizenship if they have a property there. Initially, the investment threshold for such buyers was quite high - $1 million. However, four years ago, in September 2018, it was reduced to $250,000. After the threshold was significantly reduced, wealthy foreigners...
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Travel restrictions due to the coronavirus pandemic have forced many potential foreign real estate investors to consider Turkey as an investment destination: the country is easy to access and stable in terms of control over the coronavirus. Emel Akbash Idikut, the founder of the investment company ProjEkspert Gayrimenkul, told this to reporters...
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From January to August 2020, 1,024,534 housing objects were sold in Turkey: 42.6 percent more than in the same period last year. This year, resale property sales for the first time in many years exceeded sales of new apartments in Turkey. From January to August, 706,702 secondary housing objects were sold. This is 63.3 percent of the total sales of...
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The coronavirus pandemic has changed not only the daily lifestyle of Turkish citizens, but also their holiday preferences. There is an increase in demand for villas and country houses: the suburban housing market in Turkey continues to grow rapidly. For example, the demand for suburban real estate on the Aegean coast has risen greatly. Since Izmir...
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Hürriyet Emlak, a real estate newspaper in Turkey, has published fresh data on real estate rentals for August 2020. According to the rental index (Hürriyet Real Estate Index), the rent growth rate is the highest in the following provinces: Mugla (86.25 percent year on year), Mersin (42.21 percent), Balikesir (35.23 percent), Tekirdag (30.55...
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