Hi All,
It is all well and good Yapi Kredi saying that, but the banks could quite easily rule out foreign nationals from their guarantees!
I would be very careful about investing money in Turkish Banks.
The Turkish property market is also very dodgy at the moment. Some say it is a good time to buy property with prices so low. My view differs to this. Property prices across Europe have dropped, especially Spain. They are still buidling property in Spain with a view to stock piling it. In a few years there will be a lot of spanish property released on to the market at very silly prices. You will be able to buy a proprty in Spain for very similar if not lower prices than Turkey. When you also factor in the cost of flights, Spain will be a more attractive proposition for English buying abroad. Don't get me wrong, I hate Spain and what it represents, but, most English are like sheep and will simply follow the flock.
Turkey has so much more going for it and it is ashame that every year something happens that seesm to deter tourists. This year, I thought that due to the strength of the Euro, Turkey should prosper. However, the YTL rate dropped to circa 2.06, meaning of course that the exchange rate was as unfavourable as the Euro!
Cheers Guys,
Jamie
