Recep Tayyip Erdogan as President of Turkey for a new 5-year term

Recep Tayyip Erdogan as President of Turkey for a new 5-year term

Turkey went through difficult days from the first round until the end of the second round of the parliamentary and presidential elections on 05-28, with Recep Tayyip Erdogan announcing his victory in the presidential elections and renewing his mandate to rule Turkey for a new 5-year period.
Mr. Recep Tayyip Erdogan won 52% of the votes, which amounted to 27,513,000 votes, while his rival, Mr. Kemal Kilicdaroglu, achieved 47.84%, with 25,160,000 votes.

The six-party opposition table fails in front of the People's Alliance

The opposition achieved a major failure in the parliamentary elections after the People’s Alliance represented by the parties (AK Party (ruler), MHP Party, Welfare Party, and Great Unity) retained a parliamentary majority with 322 seats out of 600 seats after the AK Party won 267 seats. The MHP Party has 50 seats.
Istanbul is the city led by the People's Alliance with 40 seats and the MHP Party with 5 seats. 

In Ankara, the AK Party won 15 seats, and its partner, the MHP Party, won 3 seats.
On the other hand, the Millet Alliance represented by the opposition won only 212 seats, which confirms the political failure achieved by the opposition parties represented by their president, Kemal Kilicdaroglu, who did not admit defeat in his last speech after announcing the results and showed his insistence on resistance!

The Future of the Turkish Economy after the Victory of Mr. Erdogan

President Erdogan emphasized his achievements over two decades, including the presence of the Turkish economy among the 20 largest economies in the world. 

Locally, Erdogan's government raised the minimum wage for government workers, as well as provided free gas service for a full year and recently announced the continuation of the economic approach in Adopting large projects and technological upgrading in various fields of production. 

It is important to mention that this approach will lead to a reduction in the level of inflation, an improvement in the exchange rate of the lira, and a decline in unemployment rates. The discovery of gas and oil will mainly help in solving inflation problems.

Real estate investment in Türkiye after the elections

In the recent period preceding the Turkish elections, there was a natural stagnation movement in the field of real estate, especially for fear that the Turkish opposition would win the elections after making a large number of racist promises towards refugees, as well as promises to ban the sale of real estate to foreigners through a tweet published by the Turkish opposition leader in January. for the year 2023.

However, after Erdogan achieves victory in the presidential elections, there will be no change in the economic approach, especially since one of his goals is to adopt large projects and provide more investment opportunities for countries wishing to develop their investments in Turkey, such as Qatar, the UAE, and Saudi Arabia, which means that real estate investment in Turkey will remain safe and available to all who wish. in investing in Turkey.

Written by: Deal Real Estate