Foreign buyers swooped into Turkey’s property market in the wake of the historic lira crisis and purchased more homes in the last six months than in all of 2017.

Last August, Turkey’s currency lost one-third of its value in a single week, making goods (and homes) that much cheaper to hordes of tourists and prospective home buyers overseas carrying anything from British pounds to Iraqi dinars. The lira stabilized to an extent in the following months, but as of late last week was still about 30% weaker than a year ago. The exchange rate is about US$1 to 5.3 Turkish lira.

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