Posted on 26 June 2009
The fragility of Sterling’s perch against the Lira that we have been blogging on in recent weeks, was shown this week, when the Lira gained 2 pence very suddenly as it seemed a deal with the international monetary fund was close to being reached.
Still the talks progress and the reports circulate that an IMF deal is indeed getting very close. This means that the Lira is likely the one that is now on an upward trend.
When the British Pound rose from being worth 2.30 Turkish Lira in April, to be worth 2.55 Turkish Lira just last week, this took almost 11% off the price of Turkish property for British buyers. To those who took our advice and bought then or at least locked in a price then, kudos. To those who didn’t, do it now, Turkish property is only going to get more expensive as the Lira strengthens.
It is easy when you read a blog like this telling you to buy now, because the Lira is about to strengthen, to take it with a pinch of salt. But now we have proved that we are speaking the truth, we say, this is literally your last chance to get anywhere near 10% instant equity.
If a deal with the IMF is reached the Stering/Lira ratio will go down to 1.00/2.45 at least, possibly even 1.00/2.40. So, if you are a Brit and have considered buying a property in Turkey, act now, reserve your property and lock in your price, with Spot Blue today.