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Turkish election victory for Erdogan leaves nation divided


webfact

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The Turkish economy is not doing so well due to inflation and this will definitely not help as Erdogan's approach is to lower interest rates which will only make it worse. Two or three years from now it will be a disaster. 

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1 hour ago, JustAnotherHun said:

That can't be the only reason for Erdoghan's win. Turkish nationals living in Germany voted two thirds for him, in Austria even a bit more.

 

I have seen it suggested that a lot of the Turkish diaspora like him because of the economic chaos he has created - property prices remain low so they can swoop in from afar and snap up property for a song. It seems a bit of a stretch that all will be motivated by greed, but I am sure it's not totally without merit.

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2 hours ago, RuamRudy said:

I have seen it suggested that a lot of the Turkish diaspora like him because of the economic chaos he has created - property prices remain low so they can swoop in from afar and snap up property for a song. It seems a bit of a stretch that all will be motivated by greed, but I am sure it's not totally without merit.

Many Turks are being price out of buying property because the prices are so high

According to data from Turkey’s central bank, property prices across the country in February recorded (PDF) an annual increase of 141.5 percent in Turkish liras. Property prices have increased about 75 percent in US dollars during the same period.

https://www.aljazeera.com/news/2023/5/5/owning-a-home-a-dream-housing-crisis-hits-turks-ahead-of-polls#:~:text=According to data from Turkey's,141.5

percent in Turkish liras.

 

And last year they implemented a 20% limit of foreigners living in a number of districts 

https://ikamet.com/blog/turkey-to-introduce-foreigner-limit-to-1200-neighbourhoods-from-july-1/

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Erdogan is a great magician who is taking Turkey years back in time. He talks about more jobs and great economy in future ???? but exchange rate against $US shows otherwise in a matter of only few years, from 4TL to 20TL. ????????You go figure the bright future that he promises to the people.

Edited by The Theory
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9 hours ago, vinny41 said:

Many Turks are being price out of buying property because the prices are so high

According to data from Turkey’s central bank, property prices across the country in February recorded (PDF) an annual increase of 141.5 percent in Turkish liras. Property prices have increased about 75 percent in US dollars during the same period.

https://www.aljazeera.com/news/2023/5/5/owning-a-home-a-dream-housing-crisis-hits-turks-ahead-of-polls#:~:text=According to data from Turkey's,141.5

percent in Turkish liras.

 

And last year they implemented a 20% limit of foreigners living in a number of districts 

https://ikamet.com/blog/turkey-to-introduce-foreigner-limit-to-1200-neighbourhoods-from-july-1/

You are right about rising house prices, but you failed to put it in context.

"The average price per square meter of residential real estate in Turkey reached $675 in October 2022, and the average cost of a house was $87,736."

 

Then look at average salaries. In Turkey it's around €443 net, whereas Germany, where the largest Turkish diaspora lives, it's €2645. 

 

https://en.wikipedia.org/wiki/List_of_European_countries_by_average_wage?wprov=sfla1

 

Foreigners don't get to vote in Turkish elections so your last point is irrelevant to my post.

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