What is the impact of the recent decline of the Turkish lira on the real estate market

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What is the impact of the recent decline of the Turkish lira on the real estate market

US President Donald Trump's recent decision on his country's withdrawal from Iran's nuclear deal has had a negative impact on the Turkish lira against the US dollar. This is because foreign investors are preparing for the new Trump decisions. This gave the US dollar a boost against the other currencies

It is worth mentioning that the Turkish lira during this world fell by 12% against the US dollar and thus the rate of inflation is higher than the last few years, all of which did not exceed in any of them 10% and said Turkish Prime Minister Ben Ali Yildirm that his country has taken the necessary measures to reduce of this inflation to return to normal rates

Yilderm said here that the inflation rate in his country was 15 years ago about 70% per year and now fell to less than 10% except this year

In this context, the Turkish central bank last month raised interest rates in order to stabilize the Turkish lira, but this was temporary, and the lira returned again after the Trump comments mentioned above

 

But the question here is what impact on the Turkish real estate market?

We all know that investment in real estate is a long-term investment the longer it lasts, the greater the benefits

In fact, recent events that led to the decline of the exchange rate of the Turkish lira against the US dollar if it had a negative impact on the Turkish lira but in fact has a positive impact for foreign investors because the foreign currencies that will come from abroad became more equal against the Turkish lira and eventually the real estate prices In Turkey depends mainly on the price of the Turkish lira and is affected by a simple rise in the dollar exchange rate, because many of the modern projects that are created lead to the survival of property prices fixed

Therefore, buying a property at the moment means you will pay the lowest price apart your currency against the Turkish lira and with time the Turkish lira will recover again because the Turkish economy is on the way to rise continuously and thus multiply your profits when you decide to sell your property

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