Economics
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The IMSAD Association presented the October results of the industry report on Turkey for October 2022. This report is closely followed by the players of the construction sector, together with representatives of other important spheres for the state. Due to the weakening of the global economy as a whole and some recession in the development...
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A campaign has been launched to provide one hundred thousand residences to middle-income families who cannot afford to buy housing at current prices. Emlakkulisi writes about this with reference to the Minister of Environment, Urbanization and Climate Change Murat Kurum. 100,000 preferential apartments for the «middle class» will be built in 81...
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More than five million applications have already been received for participation in the project «My First House», implemented by the Department of Mass Housing Construction (TOKI). More than a million of them are from Istanbul. The draw to determine the beneficiaries of the projects will begin in the near future and will be completed by March 2023...
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According to the data of the online platform Emlakjet, the percentage of those who request a search for housing for rent on this resource, and not for the purpose of buying, has significantly increased. The key reason, according to respondents, is «the inability to find an apartment or a house at an adequate price» (53% of respondents mentioned...
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Over the past two years, construction costs have increased approximately threefold, according to the department analyzing the value of EVA real estate (EVA Gayrimenkul Değerleme). And for certain categories of materials – even more: iron has risen in price 4.5 times since 2020, and 2 times since 2021. Moreover, prices vary by city, they...
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A selection of the most relevant events of the real estate market of the Republic of Turkey can be found in our traditional digest of the past seven days. A lot of news last week directly related to housing transactions with foreigners, especially with our compatriots. Thus, the volume of home purchases by Russians increased by 199%:...
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In the first nine months of 2022, due to the high demand for housing in the first half of the year, the total volume of transactions across the country overcame the «bar» of 1 million. The volatility of the exchange rate and the search for options for the safest investments of their funds had a positive impact on sales in the first six months: for...
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Market experts are wondering whether the TOKI social housing project, which should cover a quarter of a million families, will help reduce the prices for rented housing? Theoretically yes: due to the actions of the Housing Construction Administration (TOKI), the poor have the opportunity to purchase budget apartments or a plot for the...
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The growth of rental rates continues; the cost of moving is also increasing. People began to move much more often. This can be said to be one of the key trends of 2022: many leave the center and move to the outskirts in search of cheaper apartments, or even leave one city and pick up a residence in another. In connection with such...
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The high level of inflation recorded this year will directly affect the adjustment of the tax rate. Which will lead to a noticeable increase in the real estate tax in 2023. Tax specialist Ozan Bingel, based on his own calculations, suggested that from January 1, 2023, taxes and fees payable by citizens will almost certainly increase...
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