meaning property: In August 2017, a pound bought 4.5 lira, before it started a steady decline over the year, slumping to 6.3 lira by mid-June, according to The Guardian. But at the height of the currency's troubles last week, it was trading at just under 9 lira to the pound, meaning property had effectively almost halved in price in hard currency terms compared with a year ago. The highly-publicised collapse in the Turkish lira may have been a disaster for the country and any British expat who bought there in the last two years but it has been described as a bonanza for those holding US dollars, pounds or euros. The move immediately prompted something of a gold rush, according to Turkish property experts. Expat Turks living in Germany and elsewhere have also been trying to use the crisis to bag properties. This week, direct flights from the Middle East to Istanbul were fully booked as high-end investors flocked to the Turkish capital to grab bargains.
(news.financializer.com). As
reported in the news.
Tagged under meaning property, pound topics.