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House sales in Turkey drop while foreigners' interest rises in January

28th February 2016 House sales in Turkey dropped in January, according to the Turkish Statistical Institute (TurkStat) in its report released Wednesday.House sales went down 1.9 percent year-on-year in January after a three-month rally, according to the report. Before January, home sales declined in September last...
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HSBC to retain Turkey business after review

22nd February 2016 HSBC has decided to retain its Turkish operations after the offers it received for the unit were deemed not to be in the best interest of shareholders, Group CEO Stuart Gulliver said in a statement on Feb. 22.“We have therefore decided to retain and restructure our Turkish operations,...
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More Bad News for Turkey’s Tourism Industry as Flights are Cancelled

21st February 2016 While it hasn’t come as a surprise the news that Thomas Cook have cut their capacity to Turkey and is cancelling some flights is sure to be an added problem for Turkey’s already struggling tourism industry. British tour operator Mark Warner also announced they will be pulling out of...
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Iraqis top list of property-buying foreigners in Istanbul, Russians in Antalya

16th February 2016 Iraqis bought more properties in Istanbul last year than any other foreign buyers, while the biggest foreign buyers of property in southern Antalya province were Russians, according to Turkish Environment and Urban Affairs Minister Fatma Sarı.A total of 14,670 immovable parcels were sold to...
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Turkey plans new outdoor smoking ban

12th February 2016 There’s no smoke without fire – Or is there? It’s no secret that Turkey’s indoor smoking ban that was officially passed in January 2008 is often flouted and not very popular with many Turkish people (or expats for that matter). So you can imagine that reaction to the news...
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Turkish Residence Permit - Much Needed Updates for GÖÇ-NET

8th February 2016 The online system for Turkish Residence Permit applications 'GÖÇ-NET' launched last year on 18th May 2015, is currently closed for a much needed upgrade.GÖÇ-NET was closed from 8th February and was taken off-line during the early hours of Monday morning.The Directorate...
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Annual inflation nears double digits in Turkey amid hikes in taxes, food prices

3rd February 2016 The inflation rate in Turkey rose by 1.82 percent in January, triggered by persistently high food costs and tax hikes, especially on alcoholic beverages and tobacco products, lifting the annual inflation rate to 9.58 percent, close to double digit levels and the highest since May 2014....
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Russian sanctions hit Turkey's tourism industry

2nd February 2016 Over 1,300 Turkish hotels along the Mediterranean coast have been listed for sale as Russian sanctions and security concerns shake the country's tourism industry.The total sale price of the hotels on offer is close to 38.8 billion Turkish liras ($13.1 billion).A large number of hotels in resort...
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Turkish tourism revenues drop 8.3 percent in 2015

1st February 2016 Turkey's tourism revenues fell 8.3 percent to $31.46 billion in 2015, according to data from the Turkish Statistics Institute (TurkStat) released on Friday.Fourth quarter revenues dropped by 14.3 percent, perhaps an indicator of the impact that Turkey's downing of a Russian jet in November had on...
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