Tumbling lira favors foreigners seeking real estate in Turkey

Turkey’s national currency, the lira, continued its downward spiral today after the Central Bank cut interest rates for the fourth time in a row. With inflation running at 20% and the lira shedding half of its value since the start of the year, millions of Turks are being pushed into deeper poverty as Turkish President Recep Tayyip Erdogan clings to the unorthodox view that lower interest rates will reign in inflation. But it’s good news for the swelling number of foreigners fishing for bargains in the country’s property market.

Tumbling lira favors foreigners seeking real estate in Turkey

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