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Turkey: the Fastest Growing Economy in Europe Growing Beyond Expectations

Ali Babacan, the Turkish Minister for the Economy has said that the massive increase in the industrial production index for October means that the government's economic growth forecast for 2010 must be revised upwards. "Industrial output increased by 9.8 percent in October. The recovery in Turkish industry started in October...

Posted on 10 December 2010

Ankara Leaves Property Tax Value Unchanged, Calls on Poland’s Support for EU Bid

Turkish property owners or those currently purchasing a property in Turkey will be glad to hear that the government has decided not to increase the value it holds on their property for taxation purchases, and so the rate at which they pay tax against the property will not go up...

Posted on 09 December 2010

Great Times for the Turkish Property Market

Turkey’s economy continues to grow stronger and stronger and is anticipated to continue with forward momentum heading into 2011. Turkey is due to surpass China, the United States, Brazil, and Japan in national income, according to the International Monetary Fund (IMF), taking 12th place in EU countries. At 729 billion...

Posted on 04 December 2010

Investor Confidence in Turkey Back to 2007 Levels

According to the Deloitte "Private Equity Confidence Survey," or PECS, investors have the same level of confidence in Turkey as they did in 2007 before the international financial crisis first reared its ugly head. The PECS report is based on the results of a huge survey asking the views of...

Posted on 02 December 2010

Buyers Advised do Research before Buying Property in Turkey

Overseas property buyers are advised to conduct research before buying in Turkey. Julian Walker, director of agent Spot Blue said that while things are improving the market is still very unregulated compared to those in the west. "In comparison to the UK the Turkish market is still very under regulated,...

Posted on 26 November 2010

Rumours Gazipasa Airport Closed are False – Spokesperson

We at Spot Blue are happy to report that rumours about the Gazipasa airport being closed again are 100% false. A spokesperson for airport operator TAV told us that the scheduled flights are still running between Gazipasa and Istanbul Sabiha Gocken, although they have been reduced to twice per week...

Posted on 25 November 2010

Turkey Property a Hit With Investors, and Rightly So

According to official data from the Turkish General Directorate of Land Registry, some 32,000 Brits are dominant owners in a country which has seen foreigners purchase over 65 million square meters of land and property since 2002. With 6 million square meters of that owned by Brits, they own twice...

Posted on 20 November 2010

New Flights to boost Istanbul Property Market

Kazakhstan airline Air Astana has announced that it will commence running new once weekly flights to Istanbul. This is the latest in a succession of announcements that increase the accessibility of Istanbul, with a series of expanded routes this year culminating in a third airport being green-lighted for the city....

Posted on 19 November 2010

Turkish Airlines Open Istanbul to Washington Route – Latest of Many

Turkish Airlines CEO Dr Temel Kotil has flown to Washington to cut the ribbon and officially launch the airline’s new landmark route between its hub at Istanbul Ataturk and Dulles airport in Washington. The flight will run 6 times per week and connects with Turkish Airline’s star alliance partner United...

Posted on 13 November 2010

New Airport for Istanbul Given Green Light

Istanbul mayor Kadir Topbas has given the green light for a third airport in the Silviri district to the west of Istanbul. Massive growth in traffic to both Istanbul Ataturk and Sabiha Gökçen has triggered a series of projects to expand the city's air-traffic capacity, the third airport being the...

Posted on 12 November 2010