Economics
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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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Tonight, we present another digest of the most interesting events in the Turkish development and construction market over the past seven days. Several news directly relate to Russians already living in Turkey from among those who rent or buy real estate or those who are just going to buy it with an eye to moving (and there are a lot...
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Citizens of the Russian Federation have been taking the first «prize place» in the top three leading countries in terms of housing purchases in Turkey for almost six months. Previously, our country was in third place after Iran and Iraq; since spring, it has «pushed» both of these states and firmly holds the «palm of primacy». September was no...
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Recep Tayyip Erdogan announced the seizure of a number of real estate objects in five provinces. The corresponding resolution authorizing the urgent expropriation of real estate has been published in the media. But homeowners don't have to worry: we are talking mainly about industrial facilities. Thus, part of the real estate in...
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An additional payment option appeared just a few days ago among Russians living in Turkey. Recall that Turkish establishments have recently stopped accepting Russian MIR cards for payment, and ATMs for servicing. Despite the fact that it was the MIR maps that were a lifesaver for Russian immigrants and tourists for several months...
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The Ministry of Commerce has published statistics on the number of projects implemented by Turkish developers outside the country in 2022. Despite the fact that the fourth quarter has just begun, there is already information about 215 projects implemented at the moment. Their total cost is $8.69 billion. By the way, in 2021,...
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