A favourable investment option
By Steve Binge

Falling Currency Value MAking Turkish Property More Attractive

More people are likely to be investing in property in Turkey in the near future, according to predictions, thanks to the falling currency value in the nation. According to reports, the political turmoil that is currently in place in Turkey is likely to cause the value of the lira to fall significantly, something which will bring investors from other nations to the country to take advantage of property prices that are low comparatively.

Adil Yaman, director of Universal21, said: "As we saw in early 2013, unrest and political upheaval can result in a loss of confidence amongst overseas investors in the short term, such as the protests which took place in Gezi Park in early 2013." However, when currency value drops, those who live in nations where the value remains high can get more for their money, and this will see them looking to invest in properties in weaker economies.

At the moment, it is expected that those dealing in the pound, euro and dollar will look to get the most for their investment in Turkey, according to Universal21. This month, it said that the lira fell by as much as 6.3 per cent against the dollar, putting those from the US in a very strong position. Falls mean that price rises in Turkey over the past 12 months have been negated in certain currencies, making them cheaper than they were last year. The company said this means there has never been a better time to invest in property in Turkey.

"The uncertainty at the moment is likely to have an impact on short term investment in the country, however investors should remember that property investment is for the long term. The fundamentals for a strong and growing property market remain in place," Yaman added. A range of different factors make the country a favourable investment option, including the likes of the modernisation of existing housing stock, the transformation of urban areas and the multi-billion pound investment in transport and infrastructure.
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