Turkey’s Central Bank Reserves Near Record High! What Does This Mean for Real Estate Investors?

Turkey’s Central Bank has reported an increase in its total reserves, rising by $1.5 billion in the week ending February 7, bringing the total to $167.49 billion, approaching the all-time high of $167.56 billion.

The reserves have fluctuated in recent weeks, peaking at $167.56 billion on January 24 before dropping by $1.58 billion in the following week, only to rebound again.

Meanwhile, foreign currency reserves declined by $382 million, settling at $96.93 billion, whereas gold reserves saw a significant increase of $1.89 billion, reaching $70.56 billion.

This upward trend in reserves indicates economic stability, a crucial factor for investors in Turkey’s real estate sector. A stronger economy enhances the appeal of the Turkish property market for foreign investors.

 Source: Turkish Central Bank