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PropEx
Member
No, I wasn't insinuating that property prices/yields are totally dependent on the Turkish tourism sector, in fact I don't think I mentioned property at all. The tourism remark was a throw away comment because of how badly it has been going with Russia boycotting it and bombs going off every second day! I suppose my point is, that I thought was fairly clear, but evidently not was that it is all very well investing in countries that have currencies that aren't worth much, but it isn't much good trying to get your money out if the currency is lower than it was, if indeed you can get your money out at all. To get on to my opinions on the macro and micro outlook for the Turkish Lira, well, as I have said, I can't see it getting stronger anytime soon, Not that I care one iota about the outlook of the Lira, but thanks for your sarcasm though!Are you insinuating that Turkish property prices/yields are totally dependant on the Turkish tourism sector?
Let's look at the facts... In 2015 the Tourism sector equated for 10.6% of Turkey's total annual GDP. The UK's is 7.1% and the US is 8.5%.
Turkish property prices, especially in Istanbul are not dependant on tourism.
Furthermore, to answer your question about a currencies 'true value'. Please enlighten me with your opinions on the macro and micro outlook for the Turkish Lira.