Exchange rates 'favour Turkey property buyers'

Thursday April 23rd , 2009

Exchange rates between sterling and the lira are currently making Turkish property cheaper and easier to buy, according to a travel company.

The global real estate portal Property Abroad suggests that although sterling has risen against the euro in recent weeks, it looks set to weaken against the Turkish lira over the coming months.

Les Calvert, a director at the Property Abroad website, says there has rarely been such a good time to buy property in Turkey.

He commented: "Turkey has grown into one of the most popular destinations with British buyers of overseas property, both lifestyle buyers and investors, in the last few years."

Mr Calvert adds that even a rise of ten points in the lira could have a huge impact on housing prices in Turkey.

Turkey is often viewed as a cheap destination due to its position outside the eurozone.

However, the governments of Cyprus and Greece recently announced they would seriously consider supporting Turkey's future entry into the European Union.