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Over 111,000 foreign citizens now own property in Turkey

30 August 2011 - According to recently released figures from Turkey’s Directorate’s Foreigner Affairs Unit’s Land Registry over 111,000 foreigners now own property in Turkey with the UK (over 35,000 British owners) Germany and Greece topping the list. The most popular area for foreigners is the Antalya region (Antalya, Belek,...

Posted on 30 August 2011

Turkey to privatise Istanbul’s Bosphorus bridges

30 August 2011 - Turkey’s OIB (Privatization Administration) has announced the transfer of the Bosphorus bridges (Bosphorus and Fatih Sultan Mehmet) operational rights to the private sector under a 25 year agreement. The OIB has said it expects substantial interest from local and international investors and has already held talks with...

Posted on 30 August 2011

Turkey is a Top Destination with Brits Says Travelwatch

According to leading travel website Travelwatch.co.uk, Turkey is the second most searched holiday destination this year, with the available stock rising rapidly to meet the new demand. According to the firm the fact that Turkey is outside the Eurozone continues to be a major draw, because they can get more...

Posted on 26 August 2011

Economic Minister Reveals Special Economic Zones Plan for Turkey

Turkey is to do away with the current "free zones" in favour of a new system of "Economic Free Zones" according to Minister of Economic Zafer Caglayan. According to Caglayan the reason for rethinking the incentivised zones was to better equip them to tackle the country's raging current account deficit....

Posted on 25 August 2011

Foreign Investment in Turkey Soaring in 2011

We have long known that volatility in the global economy, combined with the eurozone debt crisis and sluggish growth in most established markets was driving growth in investment to Turkey and other emerging markets. But few would have believed it would be driving quite as much growth as we now...

Posted on 18 August 2011

Turkish Property Prices Continue Steady Rise

New figures show Turkish property prices are continuing to increase at a steady and sustainable pace. According to REIDIN.com's Turkey Residential Property Price Index sales prices increased 0.83% across the entire country in July compared to June 2011. Istanbul recorded the strongest increase with prices up 1.05% on the month,...

Posted on 17 August 2011

Foreign investment in Turkey up in first 6 months 2011

15 August 2011 – According to data released from CBRT (the Central Bank of the Republic of Turkey) foreign direct investment (FDI) by European countries into Turkey reached 6.2 Billion USD in the first 6 months of 2011, an increase of over 380 percent over the same period for 2010. The...

Posted on 15 August 2011

American health insurer to enter Turkish market

11 August 2011 – Cigna Corp, the long established United States health, accident and life insurance company, has announced plans to enter the Turkish market. At the recent opening of the Cigna office in Istanbul CEO Refik Berkol said Cigna was entering the market because Turkey had strong economic performance together...

Posted on 11 August 2011

Top of the Props: New System Shows New Trends

As some of you may have noticed we have been doing a lot of work on the Spot Blue website, in fact we have just had the entire site rebuild to observe modern coding standards, and introduce new functionality including social media logins (and registration). Next comes a redesign, ideas...

Posted on 11 August 2011

New System Protects Foreign Heirs’ Real Estate Inheritance

A new system aimed at preventing the heirs of foreigners who own property in Turkey from being fraudulently divested of their inheritance in the event of the deaths of said owners. Antalya Provincial Treasurer Hidayet Mat, said that, although it does not happen often, occasionally foreigners have been cheated out...

Posted on 10 August 2011