Will turkey be affected by ukraine situation with russia

[Dirtydollar]

Hi all
Im being kinda pressurised into buying an apartment by an estate agent, ive told her not yet as im unsure of
1, the economy here in UK.
2. Situation in ukraine, russia may invade which could be catastrophic for us all...
But this russian lady has bombarded me this morn on whatsapp about her job trying to find me the right place in antalya..... She knows full well i presume about the ukraine situ
But she got angry when i replied to her messages telling her that im holding my cash for the time being to see if things get unstable.
Would you buy in turkey right now?
It will affect flights and everything if it kicks off...

 

[IbrahimAbi]

If the estate agent gets angry with a customer trying to buy I would not buy through her anyway. Write that agency off immediately.
I would not be concerned about conflict in Turkey but there may be other issues. eg reduction in Russian gas supply if Turkey follows the NATO line.

 

[Dirtydollar]

If the estate agent gets angry with a customer trying to buy I would not buy through her anyway. Write that agency off immediately.
I would not be concerned about conflict in Turkey but there may be other issues. eg reduction in Russian gas supply if Turkey follows the NATO line.

Yes turkey is part of NATO so surely will be affected along with flights.
The lady in question is from antalaya homes, quite big firm i believe, i blocked her but maybe ive done the wrong thing but she was aggressive in her manor

 

[Jaycey]

Ukraine is a major importer of Turkish foodstuff (mostly fruit & veg) if that market is lost Turkish growers will feel the pinch.

 

[Mushroom]

Anyone applying pressure for a sale is a definite 'Ignore' as far as I'm concerned.
At this time, my advice would be to do nothing but research and take into account the Turkish economy and exchange rates.
Whether you buy or not is ultimately your choice, but there is nothing worse than buying quickly and regretting it slowly as some of my former neighbours found out years ago.
No-one knows how the Russia-Ukraine situation will pan out or the after effects to any other nations. If we did, we would be putting our money into bets and sitting on a beach (In Skegness) with our returns.

 

[Kanga]

Fold it and hold it. don't take any aggro from anyone and tell them you will complain about their attitude to the Zabita. (consumer regulators in every town and city.)
In any case, rent for at least a year before you buy, so that you learn how things work, like shopping, utilities, travel, medical treatments etc.

 

[Jaycey]

Also run if the realtor wants you to give him exclusivity.

 

[Chasey]

SO I have a slightly different view.

We purchased in 2007 and paid £120,000 for a four-bed villa. Due to problems in Turkey, the value has not risen significantly and re sale is very slow.

We recently (November) purchased a second villa in the hope we can sell the first at some point in the future. The empty villa is costing us about £1000 a year to lay dormant.

So are we sad about it?

Errrrr NO

From 2008 when it was completed we went there three or four times a year and had a wonderful time for very little money. With a holiday for a family of four costing north of £4000 and still not providing the comforts we had at the villa, we saved an absolute fortune. Now we have moved out here a villa in a gated community with common grounds and strict rules on what you can do, is not how we wanted to live so we purchased a stand-alone property where we can plant vegetables in the garden if we want, keep the pool filled all year and even heat it so we can use it for 9 months instead of four. Living here is a different ball game. When we just had holidays here, the gated security, maintenance, and gardening all included in the site fees was critical.

The economy in Turkey is beneficial to people with hard currency income. Its never been so cheap to live here. In 2008 Petrol was 20% more expensive than the UK. Now its 40% less than the UK despite the recent 100% increase in costs. Our electric and water bills are tiny in our 4 bed villa. Food is cheap by UK standards and I am paying less for alcohol now than I was in 2009 when a cheap bottle of wine here was twice the price of the UK. Whilst I want the Lira to recover for the benefit of the Turkish people, it can't be denied that my costs will go up.

My 2p is to find a place you like then if just using it as a holiday base, take time to talk to other residents about the site management. This is critical to your success or failure with the investment

If your planning on spending long periods here and want more independence, find an area with a strong ex-pat community and get involved. We quickly got recommendations on who to use and who to avoid and how to do stuff. We have a fantastic go to man called Mehmet who sorts everything out for us. His changes are modest and he is highly effective. We had a burst pipe in the solar hot water tank on the roof on Sunday, Mehmet had the plumber round and all fixed for 100tl in under an hour. He sorts out bills insurance tax etc. and negotiates pricing on our behalf so we are not ripped off. Without him, our experience living here would no doubt be totally different.

The BIG expense in Turkey is buying a car which is at least 100% more expensive than the UK

I don't know what impact the Ukraine issue will have. We were concerned about past issues with Russia and Siria but it seemed to not affect us. I have a possibly misguided belief in the fact Turkey needs us here. It needs tourism and it needs investment from ex-pats. The whole economy of the local area is based on it. For this reason, I feel we will be protected up and to a point.

I hope I am right on that one

 

[Hilsjw]

Hundred percent. Rent, it is very cheap and you can move out or move on. Hang on to your money while you still have it !!

 

[Jaycey]

Will Turkey be affected by Ukraine situation with Russia ??

 

[Jaycey]

Turkish President Recep Tayyip Erdogan will visit Ukraine this week, stated Foreign Minister Dmytro Kuleba.
The Foreign Minister noted that today Ukraine has an unprecedented level of support, which significantly reduces the risks of further military escalation by Russia.
During the visit, the Turkish President will be a part of a high-level Strategic Council meeting to discuss further steps in preparation for signing the Free Trade Agreement between Ukraine and Turkey.

 

[Kanga]

Ukraine exports a lot of grain to Turkey. . .

 

[Jaycey]

The free trade agreement with Turkey has been signed today. The FTA sets a zero duty on 95% of goods produced in Ukraine, stated Prime Minister Denis Shmyhal. He also added that, in fact, for more than 10,000 Ukrainian goods, a zero duty has been set; however, for 1,300 goods, the duty remains but has decreased significantly. The duty for these 1,300 goods is preserved in symbolic figures - up to 5%, but this will be subject to further improvement. Moreover, the agreement with Turkey opened the market for Ukrainian metal, which is very important for the Ukrainian industry. So far, the Turkish market has been closed to Ukrainian metal producers.

Turkey offers to host talks between Ukraine and Russia. President Recep Tayyip Erdogan has offered Turkey as a platform for Ukrainian-Russian talks. "I welcome the messages of high-ranking Ukrainian officials, especially the President, who have common sense and put dialogue first. In today's talks, I reiterated that we would be happy to host a summit in Turkey at the level of country leaders," Erdogan said in a joint statement with the President of Ukraine, Volodymyr Zelensky.

New Bayraktar production plant will use Ukrainian engines. Ukraine plans to start constructing the new Bayraktar plant, which will manufacture unmanned drones, said the Minister of Defense Alexei Reznikov. He added that according to the Turkish company's decision, the next generation of Bayraktar UAVs will use Ukrainian engines manufactured by Motor Sich. The Ministry of Defense plans to open a training center to train Ukrainian pilots to service and fly various types of Bayraktar drones. Reznikov also added that both the Ukrainian and Turkish Armed Forces will use the drones produced in Ukraine.

 

[Jaycey]

Not only fruit and veggies but Ukraine is a major construction market for Turkey and,
should Russia prevail it will be another blow for the Turkish economy.



The Zhytomyr runaway will be finished by the end of 2022.
The Mayor of Zhytomyr Sergey Sukhomlin signed a contract with the head of Onur Construction for the runaway reconstruction of the Zhytomyr international airport. The Turkish company is the largest foreign developer, working in 14 regions of Ukraine. The tender winner placed a bid of UAH 800M and will start the work in March. As an Onur Construction representative noted, the airport reconstruction project will be completed by the end of the year.

 

[35pluschips]

If Russia and NATO clash military wise, that then becomes a world war, needless to say ALL will be involved. 30 NATO members which includes Turkey and the UK.

 

[Kanga]

Here are the facts as presented by NATO.

It's vital to remember NATO is a defensive alliance, not an aggressor.

NATO-Russia relations: the facts

Since Russia began its aggressive actions against Ukraine, Russian officials have accused NATO of a series of threats and hostile actions. This webpage sets out the facts.

www.nato.int

 

[2 retired]

SO I have a slightly different view.

We purchased in 2007 and paid £120,000 for a four-bed villa. Due to problems in Turkey, the value has not risen significantly and re sale is very slow.

We recently (November) purchased a second villa in the hope we can sell the first at some point in the future. The empty villa is costing us about £1000 a year to lay dormant.

So are we sad about it?

Errrrr NO

From 2008 when it was completed we went there three or four times a year and had a wonderful time for very little money. With a holiday for a family of four costing north of £4000 and still not providing the comforts we had at the villa, we saved an absolute fortune. Now we have moved out here a villa in a gated community with common grounds and strict rules on what you can do, is not how we wanted to live so we purchased a stand-alone property where we can plant vegetables in the garden if we want, keep the pool filled all year and even heat it so we can use it for 9 months instead of four. Living here is a different ball game. When we just had holidays here, the gated security, maintenance, and gardening all included in the site fees was critical.

The economy in Turkey is beneficial to people with hard currency income. Its never been so cheap to live here. In 2008 Petrol was 20% more expensive than the UK. Now its 40% less than the UK despite the recent 100% increase in costs. Our electric and water bills are tiny in our 4 bed villa. Food is cheap by UK standards and I am paying less for alcohol now than I was in 2009 when a cheap bottle of wine here was twice the price of the UK. Whilst I want the Lira to recover for the benefit of the Turkish people, it can't be denied that my costs will go up.

My 2p is to find a place you like then if just using it as a holiday base, take time to talk to other residents about the site management. This is critical to your success or failure with the investment

If your planning on spending long periods here and want more independence, find an area with a strong ex-pat community and get involved. We quickly got recommendations on who to use and who to avoid and how to do stuff. We have a fantastic go to man called Mehmet who sorts everything out for us. His changes are modest and he is highly effective. We had a burst pipe in the solar hot water tank on the roof on Sunday, Mehmet had the plumber round and all fixed for 100tl in under an hour. He sorts out bills insurance tax etc. and negotiates pricing on our behalf so we are not ripped off. Without him, our experience living here would no doubt be totally different.

The BIG expense in Turkey is buying a car which is at least 100% more expensive than the UK

I don't know what impact the Ukraine issue will have. We were concerned about past issues with Russia and Siria but it seemed to not affect us. I have a possibly misguided belief in the fact Turkey needs us here. It needs tourism and it needs investment from ex-pats. The whole economy of the local area is based on it. For this reason, I feel we will be protected up and to a point.

I hope I am right on that one

I agree with you for the most part. But, things there aren't always "common sense" I own a house on 2 lots. Fruit trees, lots of room! Very few empty lots in the Nebiler (Kepez) area. It's 4 story with an elevator. I'm thinking about selling it since I'm not able to be there like I used to be. Not sure what it's valued at...

 

[enoch]

I agree with you for the most part. But, things there aren't always "common sense" I own a house on 2 lots. Fruit trees, lots of room! Very few empty lots in the Nebiler (Kepez) area. It's 4 story with an elevator. I'm thinking about selling it since I'm not able to be there like I used to be. Not sure what it's valued at...

If it's a nice place with gardens city people now are buying all these up to get out of the city. I don't know where you are at but I think because of the pandemic the property could sell well.

 

[Camden]

Turkey's export, import with Russia, Ukraine​

Looks like another hit to the Turkish Economy

According to the official statistics of the Turkish Statistical Institute (TurkStat), Russia and Ukraine were among the major exporting partners of Turkey in 2021. While Russia ranked 10th in this list with 5.8 billion USD, Ukraine ranked 20th with 2.9 billion USD.

Similarly, Russia and Ukraine are also among the top 20 importing partners of Turkey. While Russia ranks second with 29 billion USD in this list, Ukraine ranks 12th with 4.5 billion USD, according to TurkStat.



The effects on Turkey's tourism .... When tourism is concerned, Russia and Ukraine have been among the countries from which Turkey has generated the most revenue since 2016. While 8 percent of tourists were from Russia and Ukraine in 2016, it has increased to 27 percent today. In 2021, 24.7 million foreign nationals visited Turkey: 2.06 million were from Ukraine and 4.7 million were from Russia.


Agricultural products,In 2021, Turkey's total import of agricultural products from Russia amounted to 4.3 billion USD. While Turkey imported 6.7 million tons of wheat for 1.8 billion USD from Russia in 2021, Ukraine ranked second.

Construction and infrastructure Turkey also has important ties with the two countries in construction and infrastructure. According to the Trade Ministry data, Russia ranks first with 21 percent when Turkey's construction activities abroad are considered. In 2020, this rate was over 35 percent.

The February report of the Contractors' Union has shown that Turkey's construction sector has undertaken 413 projects in 69 countries for a total of 30.7 billion USD, 11.2 billion USD of which is in Russia.

Defense industry Turkey has been cooperating with both Russia and Ukraine in the field of defense industry.
While Turkey has been taking steps about Russia's S-400 air defense systems, Ukraine has purchased armed drones from Turkey. (AEK/SD)

'TURKEY WILL LOSE, TOO': What does Russia-Ukraine crisis mean for Turkey's economy?

Ukraine and Russia are two important partners of Turkey in tourism, import of agricultural products, natural gas, construction, infrastructure and weapon systems. Turkey’s foreign trade volume with these two countries is around 42.1 billion USD.

bianet.org

 

[Chasey]

Will Turkey simply look at the best worst option and go with that? So if its not to impose sanctions against Russia then that what they will do

Personally, if I ran Turkey and was faced with the options, id leverage the west to offer support and compensation to Turkey to make sanctions against the Putin-led regime much less of a hit.

How are those dollar loans looking now?