Mid February 2020 Update: Forecast Correct, Profits Accruing:

February 15, 2020 For the first 45 days of 2020, the Turkish Lira has declined approximately 3.5% and Turkish real estate asset values have risen approximately 13% (leading indicator). This performance is in line with our existing market out look and forecast, updated below, and since last summer. The slight weakness in the Turkish Lira that was anticipated and has materialized, did not lead to further declines in Turkish Lira asset valuation. Instead, Turkish assets appear to be revaluing upwards, correlating to US Dollar valuations, which is a common occurrence at market bottoms. This is noteworthy, in the context of the overwhelming flow of 'bad news' in the market over he first 45 days of 2020. A market that moves higher when the news environment is negative, is a market that is relatively strong, changing trend, from down to up. The primary driver behind this change is the decline in interest rates. This decline in interest rates and upward trend change in property prices was accurately forecast by mytapu 8 months ago, last summer. All investment implementation (see below for strategy) since August 2019 that has followed these strategy recommendations based on these forecasts is now profiting from gains of 15-20% plus, proving successful. As the peak summer tourist season approaches, with seasonal peak hard currency tourism revenues, the upward revaluation potential of the Turkish Lira exchange rate increases. As these two trends are likely to remain intact, the expectation now is that the real estate market in Turkey will resume business as usual in September, with life-cycle transactions continuing after two years abatement. The market prices are likely to be showing stronger, in specific locations, and generally, firmer, not declining, despite the existing supply over-hang. Under these circumstances, new investors should continue to seek liquidity distress sales for discounts and be less demanding on purchase prices. Sellers should be inclined to hold their pricing firm, if they can endure a 3-9 month wait for liquidation.

Aug - Dec 2019: Four Months: 
No Declines in the Lira and Property Prices... 

The outlook for property prices has improved significantly, up 17% in Lira terms since August, while the Turkish Lira exchange rate has been stable. This rise comes after President Erdogan’s visit to Washington D.C, where he had personal one-on-one meetings with five U.S. Senators, each on specific issues that trouble US –Turkish relations. As a result, the U.S. Senate blocked passage of key anti-Turkish legislation. The media apparently has been overly pessimistic on U.S.- Turkish relations, and after the Washington visit, asset values in Turkey began to revalue upwards. With a stable Lira, the prospects for property prices to move higher over the next 3 months into the spring appear promising. In the four months since August, the Lira is stable and has stopped going down. Residential real estate price indicators continue to fluctuate up and down, now breaking through the upper end of the valuation band. This is a typical occurrence at a market bottom. Investors should use weakness in the Lira over December and January to negotiate on property purchase prices. To ensure that negotiated prices are secured, it is necessary to close and complete on a purchase promptly, within 3 days. Avoid purchase contracts and reservation deposits..>! Ask why... Prompt completion requires Advance Preparation: bank account, tax numbers, identity documentation, and transaction authorisations. 

Contact the Team at mytapu.com here, to learn more…