For some, the speed of the tira's depreciation will likely be a shock, Mays mentioned. Nevertheless, the devaluation of the foreign money Is a part of a protracted, historic sample, the place the lira devalues after which is equalised by Inflation.
However this additionally gives a possibility for traders, Mays explains. The weak foreign money makes Turkish items enticing abroad, and Turkish exports are getting into new markets. These alternatives will imply progress afterward when the foreign money recovers.
"In the event you Make investments at present that greenback goes from the place It's at 7.90 to as an example 6.90, and also you make investments at present, how a lot cash did you make? Lots."
"There are elements past what you see,' he explains. "Do you because the investor perceive the economics of Turkey? Or are you studying the newspapers and seeing Turkey's unorthodox strategy and saying hey that is a foul thought? That is not what an investor would do."
Mays has a last piece of data for traders to mull over.
"New developments In Istanbul, are disappearing. There's solely a handful of very nice new developments. So In two years, what do you assume the demand for these developments will likely be?"
