Real Estate Industry passed to local currency by the demand of Tayyip Erdoğan. 20% discount has been done to the customers who sell their dollars and also the foreign investors can buy a real estate in Turkish Lira. (TL) TL is going to be used in investments.
By the fast rising in value of foreign currency (Euro-%17 Dolar-20% ), a tendency of using TL is firstly began in public institution and now the real estate industry also make changes for the currency. TL is used in real estate sector for buying, selling and investments. The discounts have been given in order to make the customers to sell their foreign currencies. TL is also used for the Foreigners’ investments. The Turkish president of the republic Recep Tayyip Erdogan’s speech is effective in these developments. He said: “Sell your foreign currencies and change them with TL and gold” Because of the rise in the exchange rate, the authorized people make some important announcement for prevent a more dangerous risk by the continuation of rising in dollar and Euro value. After this announcement of Tayyip Erdoğan, The Stock Market took a decision for transform all their liquidities in Turkish Lira and have a TL account. Then the other institutions followed this decision in order to prevent a low in TL value.
The Head of the Privatization Agency explained that Turkish Lira (TL) will be used in bids. Then the real estate industry joined to the decisions about using TL in sector.