Property Abroad News | Overseas Property News | News Articles

Countries:
Facebook Linkedin Twitter RSS
Your have 0 properties in your shortlist - View Shortlist >>

Refine Your Search

Strong Sterling Against Lira Increases Popularity Of Turkish Property

News Posted On: 24 July 2009

The Turkish Lira is once again losing ground against British Sterling. British people considering buying a property in Turkey may just get a second chance to benefit from the instant equity that a strong Sterling can provide.

At the beginning of April Sterling fell to a low of 1.00GBP/2.30TYR, but it bounced back. At that time analysts predicted that it may go as high as 2.40 before stabilising. But it overshot this, having reached 1.00GBP/2.55TYR in mid June, before starting to fall once again. It fell to 2.41 and is now beginning to climb again.

When Sterling hit the heights of being worth 2.55 Turkish Lira, Turkish property was almost 11% cheaper to British buyers than it was in April, and carried almost 10% instant equity given that the long-term average exchange rate is 1.00GBP/2.35TYR.

Turkey property is becoming an increasingly popular choice amongst British buyers, predominantly lifestyle buyers, but investors have also been giving it a closer look in the last couple of years.

Last month saw Turkey climb from 6th position to 5th in the monthly top 10 most popular destinations with the buyers of property on the Property Abroad.com portal in June. This was put down to the weak Lira, and if Sterling continues to strengthen again, it is likely the popularity of Turkey property will continue to grow.

View Property for sale in Turkey

View overseas property for sale

Back to news articles for this country


Overseas Property News

Story Behind Growth of Turkeys Real Estate
2014-08-21

Turkey has seen the fastest recovery of real estate in Europe after Spain and Italy. Property values.....

Real Estate in Turkey a Hot Favorite with Gulf Investors
2014-08-07

Real estate in Turkey has been in the limelight for some time now and it is all because of the large.....

Turkey Property Transactions Record High Gulf Investment in 2014
2014-07-20

According to a latest report by Turkish Finance Ministry, the country’s property market continues to.....