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Posted On: 10/07/2009
Turkey Property 5th Most Popular in June - PortalTurkey has climbed to 5th most popular destination with those searching to buy overseas property on major UK portal Property Abroad.com in June.
This put it in front of the traditional favourites of Italy, Cyprus and Portugal, which took positions 6, 7, and 8 respectively.
A likely reason for the popularity was the strength of the Pound versus the Turkish Lira, which climbed from 1.00GBP/2.30TRY in April to 1.00GBP/2.55TRY at the tail-end of last month, when Turkish properties were 10% cheaper to British buyers. It then started to fall again. This exceeded the expectations of analysts who thought it would stop at 1.00GBP/2.40TRY. It currently stands at 1.00GBP/2.51TRY.
It is likely that the Lira will continue to gain ground, as the long term exchange rate is 1.00GBP/2.40TRY, it will therefore be interesting to see if Turkey loses its 5th position in the Property Abroad.com top 10.
It is quite likely that it will not. Property Abroad.com's main user base comes from within Britain, and Turkey is the fastest rising star in terms of British tourism; with ABTA forecasting 25% growth in British visitor numbers this year, following growth of 20-25% in preceding years. As Turkey rises in popularity as a holiday destination more Britons will seek holiday property in the country.View property for sale in Turkey
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