Istanbul’s commercial property sector remains attractive in 2014

Istanbul’s commercial property sector remains attractive in 2014

Long-term economic growth prospects in Turkey have been described as ‘bright’ by international property consultancy Cushman Wakefield, which added that the Turkish economy is expected to accelerate in 2015 after a slower 2014. In a recent report on the first half of 2014, Cushman Wakefield also stated that the confidence and perception of the Turkish […]

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Turkey in the world’s 50 most competitive markets, with rising exports

Turkey is the 45th most competitive market out of the world’s 148 most important economies, according to the 2013-2014 Global Competitiveness Report by the World Economic Forum (WEF). Six European countries dominated the top 10 places of this year’s GCR, namely Switzerland in first place, as well as Finland, Germany, the Netherlands, the United Kingdom […]

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Foreign investment up as Turkish economy outshines much of Europe

Foreigners invested $2billion in Turkish property in the first half of 2014, a period that saw a 28 per cent hike in overall foreign direct investment (FDI) in Turkey compared to 2013. FDI in Turkey between January and June was worth $6.8billion, according to data released by the Central Bank of the Republic of Turkey. […]

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Turkish economy continues on growth path in 2014-15, according to OECD

Turkey’s economy will grow stronger in the coming years, according to a statement released by the OECD in July, news that should encourage more foreign investors to the country. The OECD, which conducted a survey about the Turkish economy, said that Turkey’s short-term economic outlook has improved, and that buoyed by the projected global recovery, […]

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Foreign appetite for a slice of Turkey increasing during 2014

Interest in Turkish property is showing no signs of easing off in 2014, after data from the Turkey’s Ministry of Economy showed a record 42 per cent year-on-year increase in real estate purchases by foreign nationals during the first four months of the year. Foreigners purchased real estate worth $1.26billion in Turkey between January and […]

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Istanbul’s case for becoming a global financial hub under the spotlight

Istanbul’s campaign to become a leading financial hub in the world was reiterated this month when the Turkey’s finance minister, Mehmet Simsek confirmed that the country aimed to be among the top-three performing economies in Europe within a decade and one of the top 10 in the world within the next few decades. Meanwhile, in […]

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Turkey re-elects Erdogan and sees positive economic signs

The Turkish nation has re-elected Recep Tayyip Erdogan as its prime minister, after his AKP party scored a resounding victory in the country’s local elections on Sunday. Erdogan’s return to power is deemed by many as a positive step towards continuing the country’s strong economic development, thanks to his ambitious plans to attract foreign investment […]

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Foreign investment in Turkey remains strong, with Europe its most important trading partner

Turkey’s attraction to foreign investors and businesses remains strong, after figures from the Turkish Ministry of Finance revealed that foreign direct investment (FDI) into the country in 2013 totalled $12.686 billion. Capital inflow accounted for $10.1 billion while real estate purchases by foreigners exceeded $3 billion. The European Union remained Turkey’s main source of FDI […]

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Istanbul's largest ever office lease signals healthy 2014 for commercial sector

A New Year’s boost for Istanbul’s commercial real estate sector is the announcement that Colliers International has pre-leased what it claims is the largest-ever office lease recorded in Turkey, namely over 60,000 square metres of the Torun Tower, on behalf of Torunlar REIT. The space has been leased to Denizbank, one of the leading institutions […]

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Turkey's interest rate hike stalls Lira’s fall, fuelling domestic rental market

Developers in Istanbul are reporting a hike in sale to foreign investors during December 2013, fuelled by investors taking advantage of a slump in the value of the Turkish Lira against other major currencies. The recent drop in the value of the Lira against the US Dollar and Sterling has increased the spending power of […]

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