Turkey ‘ripe for international property investment’
10 November 2009
The immediate future may provide the ideal time to invest in Turkish property due to favourable exchange rate developments, it has been suggested.
Overseas investor magazine BuyAssociation suggested that the exchange rate between the pound and the Turkish lira could become more favourable towards British investors, with sterling likely to pick up as the economy recovers and rumours of a Turkish base rate cut.
It noted that a base rate reduction in the country could help lower mortgage rates, while speculation that such a move is coming has led to the lira losing value in the international exchanges already.
This could effectively lower prices for those seeking property abroad by seven per cent.
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