Favourable exchange rate following Turkey’s election leaves tourists with more cash to spend


The favourable exchange rate following Turkey’s recent election leaves holidaymakers with far more cash to spend.

Shock Turkish general election results have left the exchange rate extremely favourable for foreign tourists.  According to Garanti Bank’s exchange rate today, holidaymakers are receiving almost 4.2 Turkish lira to the Pound. This is a rise of almost 16% from the 3.6 TL a pound was worth back in January.

“We are expecting to see a rise in the number of tourists booking to come to Turkey” says Suleyman Akbay, Director at Oceanwide Properties. “The recent election results have had a notable effect on the exchange rate resulting in holidaymakers receiving far more Turkish lira to the pound. A tourist changing £100 back in January received around 360TL, they now get almost 420TL – a vast difference leaving far more money in their pockets. Turkey is currently a great value holiday destination”.

As we reported in our recent post “Invest in a G20 country to benefit from capital growth and regular income”, Turkey ranks 6th in the world for tourist numbers according to the World Tourist Organisation (WTO). Holiday makers and investors avoiding the expensive euro zone’s have for years looked towards Turkey as a preferred destination, reflected in figures with tourist numbers rising consistently year on year.

“Now is the ideal time to invest in a buy to let property in Turkey

“Many of our clients who brought a buy to let property in Turkey are receiving more letting enquiries and bookings since the election”, says Suleyman. “The favourable exchange rate has been widely publicised. It makes sense for foreigners to holiday in Turkey at the moment, it’s excellent value for money. The rental rewards owners receive from their holiday let properties are already good, often in excess of 10% of the properties value each six month tourist season. The current exchange rate and expected influx of tourists could boost these earnings significantly. Now is the ideal time to invest in a buy to let property in Turkey and Oceanwide Properties have some fabulous, ready to rent, options available”.

Beautifully presented, fully furnished private villa in Ovacik, Oludeniz. Full rental history. £205,000

buy to let property in Turkey
Well presented private villa in Ovacik £205,000

Located close to amenities in Ovacik and 5 minutes drive from Oludeniz beach and lagoon is this beautiful three bedroom detached villa with landscaped garden and private pool. This is an ideal buy to let property in Turkey with a successful rental history earning attractive returns in the region of £12,000 per six month season. The villa is laid out over three floors offering a light and spacious living space accommodating an open plan lounge with feature fireplace focal point, fitted kitchen and dining area. There are three double bedrooms; all with en-suite bathrooms plus terraces and an additional cloakroom to the ground floor. Offered fully furnished to a very high standard, it also includes white goods, full air conditioning throughout and pipes installed to each room for electrical heating. More…

Reduced! Fully furnished 3 bed duplex apartment in Yaniklar near Calis. Popular complex with fabulous amenities ideal for rental. Great price, just £59,000

buy to let property in Turkey
Great price! Furnished 3 bed duplex on popular complex with many amenities

Recently reduced, this bargain 3 bed duplex apartment is offered fully furnished and is set within a superb multi –facility complex in Yaniklar; close to both Calis Beach and Fethiye. This duplex is ideal for those looking to invest in a buy to let property in Turkey or equally would make a nice permanent home. In brief; the property is laid out over two floors with spacious open plan kitchen and lounge area, three bedrooms including one with en suite, a further family bathroom and a utility room with a toilet. It’s fully furnished throughout, including white goods and air conditioning. The complex benefits from an outstanding Olympic sized swimming pool as well as an indoor pool which is heated during the winter months, a gym, sauna, tennis courts, a restaurant, pool bar, mini market and on site security. The communal gardens are well maintained with lawns, trees, plants and water features. More…

To see our full portfolio, please CLICK HERE. 



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