Turkish Property Sales Rise in 2024 as Interest Rates Drop The Turkish real estate market experienced a significant rebound, as Turkish property sales rise in 2024 due to favorable interest rate cuts and rising market demand. Residential property sales rose by 20%, driven by lower borrowing costs and increasing investor confidence. With further interest rate reductions anticipated in 2025, Turkey’s...
Turkey Lowers Interest Rates by 250 Basis Points Turkey’s central bank has announced a significant 250 basis-point reduction in its benchmark interest rate, bringing it down to 45%. This decision by Turkey lowers interest rates is part of a broader monetary easing policy initiated in late 2024, aligns with expectations from economists who have been monitoring the country’s evolving inflation and...
A Guide to Understanding Living Costs in Alanya Alanya, a picturesque city on Turkey's southern coast, has become a sought-after destination for expatriates and investors. Its appealing real estate market, reasonable living costs, and streamlined residence permit procedures make it an attractive choice for many. In this Blog, we will assist you in Understanding Living Costs in Alanya. Understanding...
Turkey’s housing market rebounds, reaching levels last seen in 2022 after a long slowdown. In September, sales of pre-owned homes increased by 33%, while new home sales surged by 47%. Rebound in Mortgage Sales A resurgence in mortgage-based sales also supports this recovery in the housing market. In September, mortgage-backed home sales nearly doubled compared to the same period last year....
Turkey's Removal from the Grey List expected to boost foreign investments Turkey's removal from the grey list by the Financial Action Task Force (FATF) is anticipated to draw in more foreign investments into the country. On June 28, FATF declared that Turkey has been removed from the "grey list" of nations requiring special scrutiny. FATF recognized Turkey's efforts to enhance its anti-money laundering...
UAE Investments in Turkey's Economic Sectors Suhail Al Mazrouei, the Emirati Minister of Energy and Infrastructure, stated that the UAE is planning significant investments in various sectors in Turkey. At the St. Petersburg International Economic Forum, Al Mazrouei revealed the Gulf state’s interest in exploring energy, agriculture, transportation, tourism, and more opportunities. This information about...
Turkish Economy Grows: Impressive Economic Performance in Early 2024 In the first quarter of 2024, the Turkish economy grows impressively, with a significant GDP growth rate of 5.7%. This strong performance, reported by TurkStat and published by The Investment Office, places Türkiye among the fastest-growing economies globally, surpassing many other emerging markets. Government Policies Drive...
Türkiye-Germany Investment Conference Highlights Türkiye's Competitive Edges Showcasing Türkiye's Investment Landscape The Investment Office hosted the Türkiye-Germany Investment Conference themed "Türkiye as an Investment Destination" at the Turkish Embassy in Berlin. The event brought together business leaders and public officials from both Türkiye and Germany, providing a valuable platform to...
Turkey Emerges as Southern Europe's Leading Tourism Destination Turkey has cemented its position as a top-performing country in travel and tourism, both globally and in Europe, according to the Travel and Tourism Development Index (TTDI) 2024 report, Turkey Emerges as Southern Europe's Leading Tourism Destination. The latest index, published by the World Economic Forum (WEF) in partnership with the...
Turkey's Economic Fortunes Brighten: Fitch Ratings has upgraded Turkey on Tighter Monetary Policies In a significant turn of events, Fitch Ratings has upgraded Turkey long-term foreign currency issuer default rating from "B" to "B+." This upward revision comes as a result of the country's proactive stance on monetary policy, aimed at reining in inflationary pressures. Fitch's decision underscores the...
