Turkey looks to support local builders troubled by forex volatility

Turkey’s ruling Justice and Development Party (AK Party) has submitted a bill that foresees to prevent construction contractors that have undertaken public projects from being adversely affected by price hikes stemming from the increase in foreign exchange rates. An important driver of the Turkish economy over recent decades, the construction industry has been dealing with soaring costs over the...

Turkey’s annual house sales surge %25 in january

Residential property sales in Turkey surged 25.1% year-over-year in January, according to official data, but dropped from the extremely high level a month earlier. Sales jumped to 88,306 properties in January, the Turkish Statistical Institute (TurkStat) said. Total sales in December had soared 113.7% year-over-year to 226,503, the data showed. The reading of last month reflected last...

Us Citizens’ investment in Turkey’s real estate up %115 in 2021

The number of U.S. citizens purchasing real estate in Turkey increased by 115.2% in 2021 compared to the previous year, according to official data. The number of total house sales to foreigners increased by 43.5% in 2021 year-on-year, amounting to a total of 58,576, an Anadolu Agency report citing TurkStat data said Thursday. During the period in question, the number of residences in Turkey...

Agriculture, industry in focus as gulf earmarks $8 funds for Turkey

Huge Gulf funds are eyeing possible investment opportunities in Turkey, from agriculture to tourism and industry. The funds, including those from Qatar, the United Arab Emirates (UAE), Bahrain and Saudi Arabia, plan to invest around $8 billion (TL 109.07 billion) in the country this year. The latest visit from President Recep Tayyip Erdoğan to the UAE, which was dubbed the start of a new period in...

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