Sterling Loses ground to Euro, Boosting Turkish Property

Well, Sterling has absolutely collapsed against the Euro again. Between April and this month it gained from being worth 1.07 Euros, to being worth 1.15 Euros, making Euro-zone property some 8% cheaper to British buyers. In the last few days it has gone back down to be worth just 1.08 Euros once again.

I watched it crumble almost overnight; bang down it came. Seriously all the gains of that 5 month period were cancelled out in the space of five days.

I had assumed that the strength of the Euro would be temporary, and once Sterling started to rise I assumed it would carry on rising to its former strength. But now it has fallen down again, and is failing to get back up, I have to wonder if this is it now: the Euro and Pound are gonna doof it out week to week to be a nose in front.

This will do massive damage to Eurozone property markets, and benefit the likes of Turkey and even Egypt immensely -- especially Turkey because of the current strength of Sterling vs the Turkish Lira.

There has been a lot in the press this week about the rising popularity of Turkey as holiday destination and a holiday home destination. Spain and France are still the most popular destinations for British second homes at present, but one wonders how long it will be before Turkey over takes Spain and France, if the Euro is almost level-pegged with the Pound.

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