Turkish Property Boosted by Growth in Sterling's Value
Thursday, June 11, 2009
Turkey property is set to become even more popular with British buyers, as Moneycorp's prediction for Sterling to strengthen against the Turkish Lira continues to come true.
Turkish property is now 19% cheaper to British buyers than it was in April. This will cause a further increase in the popularity of Turkish property with British buyers, 1 Pound sterling has risen from being worth 2.30 Lira to 2.35, where Moneycorp said it may peak or stretch to 2.40.
"In the long term, we expect the Pound will get stronger, certainly climbing back up to 2.35% and possibly even to 2.40%," the Moneycorp analyst concluded. This growth has far exceeded the predictions of Moneycorp, right now one British Pound will buy 2.50 Turkish Lira (rounded up). Though Sterling has recently been strengthening against the Euro, it has been weakening against the Turkish Lira; this is expected to turn around in the next few months, making Turkey property even less expensive to British buyers. Les Calvert, director of property-abroad said "a rise of even 10 points can have a massive impact on the price of properties to British buyers."
Julian Walker, director of Spot Blue, specialists in Turkey property commented: "Such a rise in Sterling’s value against the Turkish Lira is likely to make Turkey property even more attractive to British property buyers."
According to major UK portal Property Abroad.com, Turkey property has been 4th most popular with the thousands of British property searchers received by the portal. The emerging markets analyst Julie Liddle told that it had gone from being 8th most popular in the first quarter of 2008, to being 5th most popular in Q1 2009 before jumping to 4th most popular in April.
Social BookmarkingTurkish property is now 19% cheaper to British buyers than it was in April. This will cause a further increase in the popularity of Turkish property with British buyers, 1 Pound sterling has risen from being worth 2.30 Lira to 2.35, where Moneycorp said it may peak or stretch to 2.40.
"In the long term, we expect the Pound will get stronger, certainly climbing back up to 2.35% and possibly even to 2.40%," the Moneycorp analyst concluded. This growth has far exceeded the predictions of Moneycorp, right now one British Pound will buy 2.50 Turkish Lira (rounded up). Though Sterling has recently been strengthening against the Euro, it has been weakening against the Turkish Lira; this is expected to turn around in the next few months, making Turkey property even less expensive to British buyers. Les Calvert, director of property-abroad said "a rise of even 10 points can have a massive impact on the price of properties to British buyers."
Julian Walker, director of Spot Blue, specialists in Turkey property commented: "Such a rise in Sterling’s value against the Turkish Lira is likely to make Turkey property even more attractive to British property buyers."
According to major UK portal Property Abroad.com, Turkey property has been 4th most popular with the thousands of British property searchers received by the portal. The emerging markets analyst Julie Liddle told that it had gone from being 8th most popular in the first quarter of 2008, to being 5th most popular in Q1 2009 before jumping to 4th most popular in April.
Labels: British, Turkish-property
