Posted on 12 June 2009
Any Brits planning to buy property in Turkey should be looking to lock in their price now, experts have suggested. The Pound has strengthened a lot against the Turkish Lira in the last couple of months, making Turkish property much cheaper to British buyers, and experts think it may have run out of steam.
There have been signs that the Turkish economy may recover earlier than originally feared, and though there is also positive economic news in the UK, with the Pound so strong it is vulnerable to losing ground against the Lira.
“Sterling is currently worth 2.52 Lira, having rushed up from the Forex floor of 2.30 since the beginning of April. This is far higher than Forex experts thought it would go, and it could start to fall at any moment, especially with the current positive economic news in Turkey” says overseas property expert Liam Bailey of Write About Property.
“Turkish property is currently 19% cheaper to British buyers than it was in April, and any Brits considering a Turkish property as a holiday home or investment should contact a Turkish property agent now to enquire about locking in at the current price,” he explained.
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