Falling turkish lira boosts investment opportunities, say experts

Photo: Markus Merz

While some fear the political unrest will reverse the country's property growth in recent years, consultants at Universal21.com highlight the potential for investors to take advantage of the fall in the value of the Turkish Lira.

Adil Yaman, Director of Universal21.com comments, “As we saw in early 2013, unrest can result in a loss of confidence amongst overseas investors in the short term. Yet just as the protests which took place in Gezi Park in early 2013, these crises tend to be short lived.

"Naturally, some investors who remember the political problems experienced in Turkey in the past fear a return to the bad old days. This actually creates an opportunity for investors who think long term and believe that the progress made by Turkey is sustainable and on the right track.”

Indeed, in December the Lira fell 6.3 per cent against the dollar, according to exchangerates.org.uk, which will help Turkish property to become more affordable for buyers using other currencies.

The current political problems in Turkey, which were caused by a corruption scandal, have put Prime Minister Erdogan under pressure and the Turkish Lira is expected to be affected for some time until the situation in the country improves.

“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”, added Yaman. “The fundamentals for a strong and growing property market remain in place.”