The president said the new housing project will increase supply and help reduce rental prices. He called it the largest social housing project in the country’s history. The homes to be built as part of the project will be offered to first-time homebuyers under favorable payment plans, the president said Aug. 1 after a cabinet […]
The Turkish Institute of Statistics (TÜİK) on Wednesday, August 3, 2022 published inflation data (TÜFE – Consumer Price Index), which was recorded in July this year. According to TÜİK, inflation in Turkey last month was a record 79.60 percent year-on-year, 60.65 percentage points higher than in July 2021. The figure is the highest in the […]
Earlier this week, Turkish Justice Minister Bekir Bozdag issued a statement according to which the authorities decided to introduce a separate clause in the current law regulating rent increases. Already today, June 11, 2022, Turkey’s official government gazette Resmi Gazete came out with temporary changes to the “Debt Law” (6098 sayılı Türk Borçlar Kanunu), which […]
Turkish President Recep Tayyip Erdoğan’s speech on Friday, July 1, regarding an increase in the minimum wage in the second half of 2022 was eagerly awaited by millions of people in the country. It is worth recalling that as recently as yesterday (June 30, 2022), the minimum wage in Turkey of 4,253 lira converted to […]
Turkish Institute of Statistics (TÜİK) has published statistics on real estate sales in May 2022, including foreign buyers.According to the institute, 122,768 properties were sold in Turkey, twice as much (an increase of 107.5 percent) as a year earlier, but 7.73 percent less on a monthly basis. Residential sales to foreigners in May 2022 in […]
Turkey leads the world’s top 10 in home price growth in the fourth quarter of 2020, according to a study of the Global Residential Cities Index, published this week by the consulting firm Knight Frank. Three Turkish cities (year-over-year price increase) led the global ranking of home price growth at once : Ankara +30.2%Izmir +29.4%Istanbul […]
