Economics
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According to the Turkish Institute of Statistics (TÜIK) and Emlakkulisi, the cost of construction continues to rise. Estimates suggest that the construction cost index rose by 1.94% in December 2023 marking a 67.31% increase from December 2022. The so-called Labour Index increased by almost 2% in a month and by 111.62% in a year. The price index...
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Minister of Environment, Urbanization and Climate Change Mehmet Özhaseki shared with media representatives information from the TÜIK Statistical Institute and the Land Registry that citizens of other countries had purchased 17,076 land plots in Turkey with a total area of 28,318 sq. m by November 14, 2023. Moreover, this is not only land for...
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A new term that is increasingly referred to in the Turkish media is "rental migration." This is about people who are forced to move to cheaper cities and neighborhoods because they can no longer afford the high rent in their current locations. Rental migration is becoming more common among pensioners, students, and minimum wage workers who are...
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According to a statement from the Ministry of Environment, Urbanization, and Climate Change, a total of 32,715 housing units will be constructed in Hatay. The tenders for these projects have already been completed. Hatay is one of the provinces that was severely affected by a devastating earthquake, with its epicenter in Kahramanmaras. According...
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Analysts complain that the increase of the tax rate and the soaring currency will have a direct impact on the cost of work in the sector of building construction. According to the TÜİK, Turkish Statistical Institute (commonly known as TurkStat, the index of building costs of dwellings grew by 0.77% in May 2023 compared to the...
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Majid Al-Hogail, Saudi Arabia's Minister of Agriculture and Housing, has invited Turkish contractors to cooperate on projects worth $150 billion in his country, according to Emlakkulisi. More specifically, the corresponding agreement was made during a meeting and joint negotiations between representatives of the Turkish Contractors...
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The project of "Turkish" electricity for delivery to Northern Cyprus (to the Turkish Republic of Northern Cyprus, or TRNC) is at the stage of technical readiness, local media write. Let's clarify that we are talking about providing electricity to the island through underwater power supply: laying cables along the ocean floor. Experts explained to...
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The Turkish Institute of Statistics presented data on housing transactions for June, at the same time summarizing the results of the first half of 2023. Here are the exact figures for June: The total number of transactions is 83,636, or - 44.4% compared to June 2022 (150,509); Mortgage transactions - 13,463, or - 66.8% compared...
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After the earthquake that occurred on February 6, 2023, the authorities announced that, in addition to building houses in the affected provinces and providing housing to those in need, citizens will also receive financial support. For those who want and are ready to build their own house, it was decided to allocate a whole million Turkish...
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The total cost of projects implemented by Turkish construction companies abroad in the first half of this year, made up by the contracting sector abroad in the first half of the year, amounted to $7.5 billion. Recall that for the first 5 months this amount was equal to $6.5 billion. According to reports received from the Ministry of...
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