Advice for investors in North Cyprus property
Whether you are looking for a place to retire or spend extended summer holidays, the Mediterranean climate and golden beaches of North Cyprus make it a fascinating second home for you.
Purchasing property in North Cyprus necessitates careful planning to ensure that everything goes correctly and avoids potential dangers. We have put together a detailed guide to buying property in North Cyprus. It covers all you need to know about the real estate market as well as the purchasing process itself.
What is the state of property market in North Cyprus?
The property market in North Cyprus is currently witnessing high demands. With the rapid effect of the pandemic, the property and real estate market was doing significantly better than it had in a long time up to 2020, after three years of significant improvement.
The Covid-19 outbreak has had a significant influence on the country’s economy with a detrimental impact on the property market.
Can foreigners buy property in North Cyprus?
Yes, foreigners can buy property in North Cyprus. It is easier to do so here compared to many European countries.
EU citizens can buy property in North Cyprus without any limitations. It is still feasible for UK citizens to do so.
What is the average price of homes in North Cyprus?
Property prices vary greatly depending on locations on the island. The capital, Lefkosa, and other regions are more expensive than others. It also matters how close you live to the city center, as it does in many towns.
Best places to buy property in North Cyprus
There are appealing properties found all across the island, so where you decide to buy will be determined by the type of lifestyle you choose.
Do you want city culture with a view of the sea, for example? Perhaps Iskele is the right place for you. Or do you wish to be close to the most admirable beaches in Cyprus? Famagusta might be more appealing to your taste.
When buying a property in North Cyprus, how can you avoid potential pitfalls?
During the purchase process, there are some things to keep an eye out for and steps to take to help you avoid problems.
After reading our Advice for investors in North Cyprus property, you can click here to know the most profitable locations for real estate investment.