Economics
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In the middle of next month, namely, on September 13, 2022, Turkish President Recep Tayyip Erdogan plans to announce details regarding the provision of «social» apartments for people with low incomes, in particular, the most vulnerable groups of the population: pensioners, disabled people, etc. Also, citizens receiving the minimum wage...
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A number of offices are to be transformed into residential premises, according to Turkish media. This decision was made as part of a program to reduce the growth rate of real estate prices, for which it is necessary to replenish the «free housing stock» available to the local population. At the same time, many offices are now idle...
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More than 1.6 million contracts related to the purchase and sale of various real estate (not only residential) were concluded in Turkey in January-June 2022. Let's clarify that the data for seven months, taking into account commercial real estate, land for various purposes (fields, etc.) have not yet been announced. The total revenue...
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Development and construction companies in Turkey have implemented projects worth about $6 billion abroad in just seven months of 2022, the Emlakkulisi portal reports. Other interesting figures: from 1972 to the end of July 2022, 11,293 projects worth $459.6 billion were successfully commissioned. Despite the political instability and the...
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A selection of the most relevant events of the real estate market of the Republic of Turkey is in our traditional digest. The topic of rent continues to be discussed. Although last week was marked by good news in this segment. Firstly, rental rates have finally started to normalize. The first to burst the «rental bubble» in...
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Within the framework of providing social housing from TOKI to those in need of 81 provisions, special attention will be paid to the most vulnerable categories. So, pensioners who do not have their own real estate have been allocated a separate quota. Even in the clarifications to the new draft, it was mentioned that disabled people, relatives of...
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Provincial governors have started collecting applications for social housing under TOKI-2022 programs. Recall that inexpensive apartments will be provided to citizens with average and below average incomes in 81 provinces at once. This action, which will become the largest social housing project in the history of the Republic of Turkey, is in full...
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The volume of residential real estate sales collapsed almost all over the world – but Turkey was not affected. The Republic has become one of the few states where the volume of transactions for the purchase and sale of residential real estate continues to grow in parallel with the increase in prices for it. Recall that only in Istanbul, residences...
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Since 2003 – that is, over 20 years - Turkish contractors have carried out $458.4 billion worth of work abroad. Namely, on the territory of 131 countries. The quality of Turkish construction has become famous all over the world, and the number of orders is increasing. In particular, the total cost of 132 projects implemented in the first six...
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The president of the Istanbul Chamber of Realtors Nizameddin Asha expressed confidence that during the year exorbitant rental rates will still fall: «The rent for housing at the current cost of 10,000 Turkish lira per month will be reduced to 6,000-7,000». Mr. Asha explained this to the press by saying that, in his opinion, the «fever period» in...
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