Economics
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Turkey's budget proposal for 2021 includes an estimated income from a new tax on luxury housing of 350 million TL. Starting from the new year, real estate objects in Turkey that cost at least 5,000,000 TL (€566,000) will be taxed. And the more expensive the property is, the higher the amount of annual tax the owner of valuable real estate will...
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Home sales in Turkey decreased in September 2020 by 6.9 percent compared to the same month last year and amounted to 136,744 objects. If we consider the results of the first nine months of 2020, then sales increased by 34.2 percent and amounted to almost 1.2 million housing units. Experts expect 1.4 million apartments and houses to be sold by the...
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The construction sector in Turkey is the only industry that is currently increasing the number of employees in the context of the coronavirus pandemic. According to the Turkish Statistical Institute (TUIK), as of July 2020, the number of people employed in the construction sector increased by 114,000 people (or 7.3 percent excluding seasonal...
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A report on the state of the construction industry in Turkey has been published: the sector that has gone through a very difficult period due to the coronavirus pandemic is now under pressure from rapidly growing costs. An increase in the exchange rate is also becoming a negative factor for the industry, which is reflected in the cost of imported...
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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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The Anadolu news agency published data on the growth of profits, turnover and capital of companies selling real estate in Turkey. According to the report, agency sales for ten years (from 2010 to 2019) increased from 4.5 billion TL to 32.9 billion TL. The internal gross sales of companies increased during this time from 4.1 billion TL to 31.1...
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The gross sales of Turkish real estate companies from 2010 to 2019 increased almost fivefold: to 473.6 billion TL. This information was published by the real estate newspaper Emlak Kulisi with reference to the Anadolu news agency. According to Anadolu, the total gross sales of companies in 2010 amounted to 96.3 billion TL, in 2015 - 215 billion TL,...
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Turkey is optimistic about the United States and European countries, which manage to earn serious money on the sale of apartments and houses to foreigners. However, in Turkey itself, the share of foreign investors in housing is still 3.5 percent. These figures have been published by Emlak Kulisi, the construction and real estate newspaper in Turkey...
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The Turkish authorities have launched the process of the country's transition to domestic production of construction and finishing materials. It was decided to take these measures in order to reduce the cost of real estate in Turkey and to support its producers. While Turkish building materials are exported to more than a hundred countries around...
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Recently, Turkish developers have been moving to Europe at an increasingly dynamic pace. They buy or lease a large amount of land, build real estate for various purposes and take part in large-scale farming investment projects. If earlier the main directions for Turkish companies included the countries like Sudan, Pakistan, Argentina, Malaysia, the...
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