Economics
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According to TurkStat, sales of houses and apartments in Turkey in September increased by 19.9 percent compared to August and decreased by 6.9 percent compared to September 2019 sales. The annual growth in property prices in Turkey recorded at the beginning of October 2020 amounted to 25.8 percent. The average cost of an apartment in Turkey was...
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Turkey continues to actively provide international construction services even during the coronavirus pandemic. The total volume of international projects of Turkish developers has decreased due to the pandemic. However, the result of ten months of work is the implementation of 158 projects worth $ 9.4 billion. This information was published by the...
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In his speech to the people after the meeting of the Turkish Cabinet of Ministers (which took place today at the Presidential Palace), Erdogan noted the successful results of the construction and real estate industry in Turkey. According to the president, in the first nine months of 2020, sales of houses and apartments in Turkey reached 1.2 million...
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The coronavirus pandemic has affected overseas home sales all over the world. Turkey, which has shown itself to be a safe country with a developed healthcare system, has become one of the leading countries in real estate sales to foreign investors. According to the Anadolu news agency, in the first nine months of 2020, sales of Turkish housing to...
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The results of Capital's traditional annual survey of the 30 most influential Turkish companies, which has been conducted for 16 years, have been published. The study covers the turnover and profitability of companies. It also determines companies' economic and social influence, reputation and the strongest business points. The report mentioned the...
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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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