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10 reasons to buy property in North Cyprus

Posted by Admin on February 12, 2024

There are so many reasons to invest and live in Northern Cyprus, which is the Pearl of the Mediterranean; but let’s talk about top ten for the beginning and leave the rest for your experience on the island:

1-Real Estate Value Increase:

There is a certain limit to the lands in Northern Cyprus. Many plots and houses are sold every day. The annual average real estate value increase in Northern Cyprus is between 25% and 35%. With the increasing construction investments in city centers, especially in Kyrenia, and the increasing attraction of Northern Cyprus, the main focus of the investors is the investment preference in the north coast of North Cyprus, Esentepe and Tatlisu regions much as Famagusta and Iskele regions.

2-Rental Income:

Looking at property in North Cyprus as an income-generating asset, you should know that current rental income is between 7% and 10%. This percentage may be higher depending on location, quality of construction and the type of property. The North Cyprus property market gives you great opportunities to invest.

3-Return time of investment:

The return of the rental income to you within 10 years of an average investment shows the quality of the investment. It is possible to return an apartment in Northern Cyprus with rental income within 10-13 years. At the same time, if we consider the increase in the value of your real estate, we can accept this period as an average of 10 years. For this reason, many investors continue to own real estate in Northern Cyprus.

4-Natural climate of Northern Cyprus:

Many investors living in cold countries prefer to buy real estate on the island, especially due to the climate of Northern Cyprus. Northern Cyprus, which has a warm climate for an average of 10 months, is an ideal location for those who want to escape from the cold weather.

5-Your Holiday Country:

We can say that Northern Cyprus is a tourism paradise. Full board accommodation in a five-star hotel in Northern Cyprus can be quite affordable during the summer season. Those who want to stay in the city in their own comfort prefer to buy a house instead of staying at a hotel. You can earn income by using your house for yourself in the summer season and renting it out in the winter season. You can also continue to enjoy hundreds of entertainment venues, fine restaurants and bars in Cyprus.

6-Payment Plans:

Many construction companies offer flexible payment plans for new flat purchases. In general, 35% down payment is made in the purchase of real estate. You can continue to make regular monthly payments until the end of your project. As an investment advice; in the first pre-sale of the projects, you can buy your flat at the launch price and sell it for a higher price at the end of the project. We can easily say that mostly investors buy directly from launch prices in off-plan projects.

7-City Life:

It wouldn’t be wrong to call it a big life in a small city. If you are in Kyrenia, the liveliest city of the island, you will experience the city life and calmness you are looking for together. If you do not like city life, you can move away from the city centers in a very short time and evaluate alternative investment locations such as Esentepe, Tatlisu in the east or Alsancak-Karsiyaka line in the west. Especially, you can have real estates that are 15 to 30 minutes away from the city centers at more affordable prices.

8-Luxury Lifestyle:

We feel that you have decided to live in Northern Cyprus, vehicle prices in Northern Cyprus are generally similar to vehicle prices in Europe. Especially for those who prefer luxury vehicles, we state that there are no high taxes in order to live in Northern Cyprus and maintain their living standards here. Therefore, many investors, especially those who love the sea, love the island life, enjoy the fresh air and the city, have access to many locations for entertainment. There are more than 240 hotels in Northern Cyprus.

9-Residence Permit:

If you have decided to live and buy real estate in Northern Cyprus, this is great news for you. Property owners are given a 1-year residence permit with their families. If you have not sold your real estate at the end of the period, the residence permit is extended in the same way.

10-Popular Location:

Many investors especially prefer Northern Cyprus. Due to its location, easy transportation is provided. In addition, there are people from many different countries in the population living in Northern Cyprus. Generally, many people can speak English throughout the island, although the mother tongue is Turkish. Turkish Lira is used throughout the island together with foreign currencies such as British Pounds, American Dollars and Euro.

If you are interested in purchasing real estate for investment purposes in North Cyprus, contact us now!
Let’s choose the best real estate for your budget together with you.

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