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    Category: Economy

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    Housing Sales Statistics-March 2022

    Housing Sales Statistics | March 2022

    Turkish Statistical Institute recently revealed the rates of housing sales statistics of March. According to the statistics, housing sales increased 20.6% in March when compared to the same month last year. The sales went up to 137 thousand 170 and Istanbul had the highest share with 17.9% as 23 thousand 974 house sales. Ankara and Izmir followed Istanbul on the sale rates. Ankara had 12 thousand 609 housing sales and Izmir followed the list with 8 thousand 51 house sales.

    New Decisions on VAT Exemption

    New Decisions on Vat Exemption

    In the previous months, significant informations and rates were revealed about the housing sales. Now there are new decisions on the VAT exemption, related with foreigners being able to sell houses and workplaces. According to the rates revealed in February by the Turkish Statistical Institute, housing sales to foreigners increased about 54.95% and became 4 thousand 591 when compared to last year’s same month. Now, The Grand National Assembly of Turkey and its committee on planning and budget made changes related to foreigners and their sales of housing and workplace.

    The Changes in Housing VAT Rates

    The Changes in Housing VAT Rates

    The VAT rates for housing had some important changes. But how will these changes affect the housing sector and what are the differences? The answers are as below, but first, let’s remember the applied rates in order to make a comparison.
    The residences which have 150 m² net usage area used to have an 18% VAT rate and for the ones below 150m², the rate was 1%. Now with the changes; for houses that are above 150 m², there will be a tax reduction. For the ones below 150 m², there will be partial discounts and also partial raises.

    Housing Sales Statistics of Turkey | January 2022

    Turkish Statistical Institute has revealed the house sales statistics of Turkey for January 2022. The official institute has announced the figures on its official website. In Turkey, housing sales increased by 25.1% in January 2022 compared to January 2021. Housing sales reached the figure of 88 thousand 306. Istanbul had the highest share with 17.1% and 15 thousand 110 house sales. The second follower city with the most sales was Ankara with 8 thousand 255 house sales with a share of 9.3%. Izmir came after Ankara with 5 thousand 486 house sales with a share of 6.2%. In Turkey, brand-new house sales increased by 22.2% in January 2022 compared to January 2021. It became 27 thousand 203. Besides, brand-new housing sales had a 30.8% share of all house sales in 2022 in Turkey.

    Turkish President’s Visit to UAE UAE and Turkey Signed 13 Agreements

    Turkish President’s Visit to UAE | UAE and Turkey Signed 13 Agreements

    Yesterday, President Recep Tayyip Erdogan went to Abu Dhabi, the capital of the United Arab Emirates (UAE), for a two-day official visit. Burj Khalifa, Dubai’s iconic skyscraper, lit up with the Turkish flag ahead of Erdogan’s UAE visit. On the first day of the visit, the UAE and Turkey signed 13 agreements including the topics of the defense industry, health, climate change, industry, technology, culture, agriculture, trade, economy, land, maritime transport, disaster management, meteorology and communication. President Erdogan’s visit was also a new step for the rapid development of relations after years of tension. Crown Prince also paid an official visit to Turkey last November.



    Export from Turkey to Libya increased by 64.9% in 2021 compared to the previous year and reached the figure of 2 billion 443 million dollars. This figure has been the second-highest export figure to Libya. According to the research conducted by the DEIK Turkey-Libya Business Council from the Turkish Exporters Assembly (TIM) figures, Libya had a share of 1.06% of Turkey’s total exports because of this figure. Exports in December, on the other hand, reached 238.9 million dollars with an increase of 75% compared to the same period of 2020.

    What are the Property Taxes in Turkey

    What are the Property Taxes in Turkey?

    Property taxes in Turkey are determined by the government by taking into consideration the factors such as the location of the property, type, etc. Property tax is a tax paid on property owned by an individual or other legal entities such as a company. Besides, property tax is a real estate ad-valorem tax, which can be considered a regressive tax. No matter if you are a Turkish person or a foreigner, you should pay tax if you have real estate in Turkey. Mostly, the owner of the property pays the property tax. No matter if you are a Turkish person or a foreigner, you should pay tax if you have real estate in Turkey. Mostly, the owner of the property pays the property tax.

    Istanbul Financial Center The New Gate of Global Business


    Istanbul Finance Center gathers international firms with the capital markets and financial services sectors. Global financial centers are the city regions where institutions with the international competence and capacity necessary to ensure the flow of goods, services, information and capital between the national economies of the countries in which they are located and the other economies of the world are gathered. Besides, global financial centers are very important as they are the source of high-volume financial transactions and innovations. States strive for a region in their own country to become a global financial center. Thus, they try to reach the economic benefits of coming to the fore globally.

    Karaman-Konya High-Speed Train Put into Operation

    Karaman-Konya High-Speed Train Put into Operation!

    Karaman-Konya high-speed train was put into operation last Saturday with the presence of Turkish President Recep Tayyip Erdogan. Turkish President Erdogan paid a visit to Karaman on January 8, 2022, to attend the collective opening ceremony of the completed projects including the Karaman-Konya High-Speed ​​Train Line. President Erdogan delivered a speech addressing the citizens who came to Konya High-Speed ​​Train Meram Station to welcome him. He also made important statements during his speech. There are 21 vehicle underpasses, 20 vehicle overpasses and 15 pedestrian underpasses within the scope of the train project.

    The First Islamabad-Istanbul Freight Train Reaches Ankara in Turkey

    The First Islamabad-Tehran-Istanbul Freight Train Reaches Ankara

    The first Islamabad-Istanbul freight train departing from Islamabad reached Ankara within the scope of the ITI Freight Train Project between Pakistan, Iran and Turkey. Minister of Transport and Infrastructure Adil Karaismailoglu attended the welcoming ceremony for the Islamabad-Tehran-Istanbul (ITI) freight train. Representatives from Iran and Pakistan also attended the ceremony at the Historic Ankara Train Station. After highlighting that Turkey broke a record with exports of 225 billion dollars in 2021, the minister also said that Turkey’s share in the world trade volume surpassed 1 percent for the first time in the history of the Turkish Republic.