Northern Cyprus offers low-cost housing, despite the fact that property prices have risen markedly in the past few years, especially in areas in the south and southeast of North Cyprus, Kyrenia and Famagusta.
Growing from year to year the popularity of Northern Cyprus has turned the country into an international hot spot of investment and tourism. Small and medium-sized investors are attracted to Northern Cyprus mainly by inexpensive real estate, low taxes, ease of acquisition, the possibility of rapid immigration and a number of other reasons.+
Potential immigrants see North Cyprus as a convenient country for living, as it is relatively easy to obtain residency. In order to become a resident of Northern Cyprus, you must have a property contract in your name or in the name of your spouse
(Spouse) on the ownership of any residential property and have a small amount in a bank equal to the minimum wage during the year. Children under 18 years can live in North Cyprus according to the parents' documents.
A small new apartment in North Cyprus can be purchased quite inexpensively for 36 000 - 40 000 pounds. For new housing in North Cyprus, you can get mortgages over a long period of time, in some cases up to 10 years.
Children of immigrants feel comfortable in this new country, because the sun is always shining, the sea is never far away and the good attitude of the local people to children is legendary. On offer to those who choose to move here, is a large selection of both private and public schools.
Students from around 100 countries are trained in North Cyprus in eight different universities, but it is planned that the number of higher education institutions will be brought to ten in the very near future. The education system is based on European standards, training is inexpensive, and every student after graduating from university can continue their education in Europe.
The economy of North Cyprus is growing steadily, and according to analytical forecasts, in case of solving the issue of uniting the island, one can expect a serious jump in prices for real estate and land in the coming year.
North Cyprus is an attractive place for large or small investors who enjoy the advantages of low prices for real estate and land. Small and large investors are buying up property to get a decent profit in the near future, which leads to an increase in
the value of real estate in the most desirable areas of Northern Cyprus, especially the cities of Kyrenia, Nicosia and Famagusta.
A popular niche for starting an investment is the purchase of real estate for holiday rentals. Choosing the right location not only guarantees you a stable rental income with a return of about 7% (higher than in Spain, Greece, Bulgaria, Italy and France - the source of the "Guide to Global Property"), but will also significantly increase the value of your property in the coming years.
So yes, if you invest in real estate or land that is in the right place, you can be sure of a good return on your investments. Remember that such investments must be made with a long-term purpose; your property will not increase in price overnight, but over several years, for sure. Look at the location of real estate on the interactive map of Northern Cyprus, presented on the website https://www.alliance-cyprusproperty.ru/
It is impossible to accurately predict what return you can expect from your investments. The Ministry of Development of Northern Cyprus stated that the average growth in property prices was about 21.5 percent in 2016 compared to the same period in 2013. If this trend continues, the return on investment in real estate will be high.
So where to find the perfect place?
Famous coastal regions, such as Girne, Esentepe, Iskele - all have their charms, and they, of course, are favourite places for recreation. The Europeans love the Esentepe region, which gives them the opportunity to live in peace, surrounded by the sea, mountains and forests. Real estate that have a view of the sea or the harbour will always be in demand, and the price of land or property in such places will always increase due to the high demand in these places.
Buy before construction or secondary real estate?
Both options have their advantages.
The usual option in which the average investor is often interested is buying before the construction starts, because these properties are usually sold at a very competitive, inexpensive price. Once the property is completed, the cost of housing, as a rule, increases. Buying property from the developer, the buyer can always rely on a convenient payment plan before the end of construction and credit after.
There are advantages in secondary housing, like having the price in cash can be a big advantage.
Buying a property in the secondary market gives the buyer the chance to see the property, that is, to see the finished product to the smallest detail and carry out a survey if preferred.