Why invest in North Cyprus?
North Cyprus has proven to be the next hot investment prospect in the Mediterranean, gaining ground on competitors such as Spain, Portugal, and France, now that the TRNC Property Commission has been recognized by Europe. As the chances of North Cyprus joining the EU become more likely, it has piqued the interest of both experienced and novice investors. Furthermore, recent negotiations between the north and south of Cyprus have pushed up prices. More people are discovering the uniqueness of North Cyprus as an unspoilt heaven since the border opened fully in 2004 enabling residents and visitors alike to move freely throughout the entire island.
The British Empire resided over Cyprus as the island’s colonial rulers in the 1890s. If you walk around North Cyprus, you will notice the British influence: cars drive on the left side of the road, there are many Anglican churches and beautiful colonial buildings, but perhaps the most important detail is that the sterling pound, which has always been a strong currency, is accepted in almost all shops and restaurants. All of these factors have contributed to establishing Northern Cyprus as one of the most promising real estate investment destinations in the world.
Northern Cyprus welcomes both local and foreign investors since it provides a comfortable and non-discriminatory business environment to almost everyone.
The number of universities with students who afterward chose to stay in North Cyprus and seek jobs provides the availability of a qualified and young labor force. With several globally accredited colleges attracting a large number of international students, education is becoming an increasingly important aspect of the North Cyprus economy. As a result, another significant benefit of investing in North Cyprus is the high enrollment rate.
Furthermore, because of its large number of residents, Turkey, North Cyprus’ closest and most important neighbor, is a prime source of labor for business and trade in the TRNC. With favorable political advances on the island, the investment climate is projected to rapidly improve. North Cyprus has a tiny but expanding economy that offers foreign and local investors a variety of benefits. Northern Cyprus’ economy, in general, continues to grow at a modest and steady pace – which, while not being part of Europe, is nonetheless unusual.
The TRNC zone is booming in terms of investment. Property prices in North Cyprus are expected to rise further in the near future, according to experts. North Cyprus has an excellent reputation for low crime rates and a pleasant communal environment, which, combined with the gorgeous landscapes and fresh air, makes it a place that still captures people’s imaginations. Property investment is a source of long-term economic growth, and with such a diverse range of new construction projects as well as older, more established properties, there is plenty to choose from when considering North Cyprus as an investment destination.
Consider the pleasant climate, welcoming community, breathtaking views, and historically significant sites, all of which are complemented by a wonderful, warm Mediterranean Sea. You could not ask for much more than a fully restored airport, a superb golf course, water sports, and beautiful beaches!
The economy is strong, and the real estate market is booming, which can only suggest that property prices will rise in the near future. For these reasons, most people believe it is a fantastic area to live in and for vacation purposes!
Property prices are now low, but with the removal of the visa restriction bringing the island one step closer to a Cyprus solution, it will only be a matter of time until they rise. Do not miss out on this once-in-a-lifetime opportunity to secure your vacation home or investment property at present low prices and watch it appreciate.
“The Property Commission of the TRNC has been recognized by Europe.”
Appreciation of assets
Purchasing a resale property in North Cyprus can also provide a fantastic return on investment. Purchasing an off-plan home allows the buyer to pay around 20% less than market value and pay in 18–24 month installments based on building phases. Despite the fact that prices have begun to rise, there are still villas for sale in North Cyprus starting at £45,000. Furthermore, the Turkish Republic of Northern Cyprus (TRNC) has a lower cost of living than the United Kingdom, allowing pensioners and residents to enjoy a higher level of living outside of the eurozone in a country with favorable tax policies. Take a look at our investment homes in North Cyprus.
“Buy off the plan for 20% less than market value as an investment”
Holiday rentals and buy-to-let
“Long-term buy-to-let yielding a minimum of 5%”
“The average summer temperature is 25 degrees Celsius.”
Tourism is booming in North Cyprus
From April through October, the Mediterranean climate is hot, sunny, and dry, with temperatures averaging in the mid-20s. Its unspoiled beauty and rich culture, in addition to the excellent climate, make it a really unique location. Almost every home in North Cyprus has a view of the Mediterranean Sea, thanks to the gorgeous mountain ranges, beaches, and lovely shoreline. Tourism is beginning to grow in North Cyprus as a result of recent political developments and the hope that direct flights to Ercan International Airport will begin soon.
In addition, new recreational facilities, like the brand new championship-level Korineum golf course near Esentepe and the nearby upcoming Port Cyprium Marina, have bolstered the market significantly. You can read our previous blog post to understand why tourism is on the rise in North Cyprus.
North Cyprus’ economic stability has been recognized by the European Commission, the International Monetary Fund, and other international institutions. Tourism has been a big contributor to the economy and has helped the country overcome political turmoil. The textile, service, and petroleum industries are all doing well. Foreign investors can take advantage of tax benefits and low rates of taxes.
“Low taxation” and “emerging industries”
Don’t miss the chance to invest in North Cyprus
Northern Cyprus is a popular tourism and investment destination. This island will wow you with its modern architecture, historical structures, housing, financial convenience, and numerous possibilities. After a little investigation, you will discover that Northern Cyprus is the fastest expanding market in the Eastern Mediterranean and that it is a great place to invest in real estate for the medium or long term. If you are thinking about buying property in Northern Cyprus, you can contact us for free advice and consultation.