USD, EUR, and TRY: Managing Currency Risk on Turkish Property

Market context

Investors evaluating matching rental currency to financing and exit assumptions should pair macro themes with micro-market transactions recorded in 2025–2026.

Due diligence stack

• Model gross yield, management fee, void weeks, and capex reserves.
• Demand proof of historical occupancy—not only ADR screenshots.
• Separate headline ROI from levered IRR when debt is involved.
• Exit strategy: who buys resale inventory in this micro-market?

Diversify city and asset type; concentration risk hides in single launches.

Al-Zaiter educational series · Part 11 of 18.