Economics
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Noting that the problem of non-compliance of rents with real prices cannot be solved with the help of only a 25% limit, representatives of this sector say that it is necessary to look for other ways out. Finally, some of them have been announced: new complexes belonging to the category of social rented housing should be built in...
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It would seem that the new Istanbul Airport, which replaced the Ataturk airport, was opened quite recently. Nevertheless, time flies fast; and since the beginning of its work (October 29, 2018), the air hub has managed to accept and send about 1.5 million flights: from December 29, 2018 to December 31, 2019, it passed through 51.96 million...
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The 25% maximum limit for rent increases during the prolongation of long-term contracts was extended for another year. This measure was introduced in the summer of 2022, and was supposed to end on July 1, 2023; nevertheless, the extension of such a "limit" has been actively discussed in recent months. It is now valid until July 2,...
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Gulchin Barbaros Ak, Chairman of the Mersin branch of the Chamber of Civil Engineers (IMO Mersin), a member of the Union of Chambers of Turkish Engineers and Architects (TMMOB), assessed how the increase in prices for building materials affected the real estate sector. The more than 50% increase in tariffs, of course, did not please,...
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Judging by the recently published report on residential real estate sales for May 2023, the "subsidence" in the volume of transactions observed in recent months has noticeably declined. Despite the fact that during the period January-May, the number of home sales in Turkey decreased by an average of 16%, compared to May of this year with May of...
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The Ministry of Family pleased families with low incomes: households ready to invest in the purchase of residential real estate can receive a cash subsidy from the state up to half a million Turkish lira (500,000 TL). It will be used to pay off accounts receivable. However, not everyone will get it: in order to receive a subsidy, you need...
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Construction costs in Turkey are expected to reach $1 trillion. This amount increased due to the damage caused by the earthquake with an epicenter in Kahramanmarash in early February 2023. So now, in addition to restoring the destroyed housing stock, we have to pay much more attention to the earthquake resistance of buildings. Experts Kain...
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The builders of the Republic of Turkey in the first five months of 2023, according to their profile, performed work outside the country in the amount of $6.5 billion. According to the calculations of the Anadolu agency (based on data provided by the Ministry of Commerce), from 1972 to the end of May, 11,745 successfully implemented...
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President of the Association for the Promotion of Foreign Real Estate (GIGDER) Faruk Akbal, assessing the situation with the sale of residential real estate to foreigners after the elections, said that sales have already intensified. GIGDER expects the implementation of "deferred demand" - namely, the receipt of $1.5 billion to Turkey as a result...
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The Minister of Environment, Urbanization and Climate Change Murat Kurum recently made several new statements regarding what specific steps will be taken to reduce rental prices; it is planned to bring rental rates under control. The official recalled that until July 1, 2023, there is a 25% limit on rent increases; this period will be...
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