Property market in North Cyprus

North Cyprus attracts more and more visitors every year and has become a popular travel destination Landet är berikat med gyllene sandstränder, fascinerande vikar, kristallklart havsvatten, 300 soldagar om året, vacker orörd natur, rik kultur och hög livskvalitet. Som ett resultat av dess popularitet har fastighetsmarknaden upplevt en stark tillväxt under de senaste åren.

A profitable investment

Investing in property are profitable for various reasons. Here are the main reasons why property investment in North Cyprus is attractive:

1. Affordable Property Options: Compared to many other Mediterranean countries, property prices in North Cyprus are still relatively low. This has been a major factor in driving demand from overseas investors, particularly those looking for a second home or holiday home.

2. Potential for Price Appreciation: The property market in North Cyprus has historically shown an upward trend in property values. As a relatively new tourist destination and an increasing demand for properties, prices tend to rise over time. This means a high return on invested capital.

3. High Rental Income: If you don’t plan to use your property in North Cyprus as your primary residence, you can generate rental income by renting it to tourists or long-term tenants. Increased tourism in the region has created a stable demand for rental properties.

4. Currency Advantage: Pound Sterling is the official currency for all property transactions. This provides financial stability for your property asset and future commercial steps such as reselling the property.

5. Tax Benefits: North Cyprus offers tax incentives and benefits for property investors. There are often tax advantages and benefits for foreign investors, including low property taxes.

6. High Quality of Life: North Cyprus offers a high quality of life with a pleasant Mediterranean climate, beautiful beaches, and historical sites. This makes it an attractive location for both permanent residency and as a vacation destination, which can increase demand for properties.

7. Infrastructure Development: Significant investments have been made in the country’s infrastructure such as the new international airport (Ercan), motorways and also investments in healthcare and tourism. This has increased the area’s attractiveness and potential for increased tourism and property value.

8. Low Cost of Living: North Cyprus offers affordable living conditions comparable to European standards. However, the average cost of living in North Cyprus is lower than in most European countries.

9. Safety and Security: According to new research conducted by ValuePenguin, Cyprus is one of the safest countries in the world with the least crime. Cyprus ranks 1st among countries with a population of less than 5 million and 5th among all countries in the world.