Seven Reasons to Invest in North Cyprus
North Cyprus languishes in the warm waters of the Eastern Mediterranean, blessed with sunshine nearly every day of the year. Costs are low, the pace is slow and the living is definitely easy.
Nowhere is this more evident than in the country’s burgeoning property market, where value for money and attractive returns are driving a rush of buyers from Europe, Scandinavia, the Americas and the Middle East.
There are many reasons to invest in North Cyprus, here are just a few:
1. It’s a fantastic place to live. Just a few hours away from the frantic and unyielding pace of modern life, North Cyprus will transport you to a different time and place, where people are kind and respectful, where little children walk hand in hand unhindered as they make their way to school, where street violence and assaults are virtually unknown and women are safe to walk the streets at night.
2. It’s beautiful. The Mediterranean, the great sapphire sea of history sailed by the Phoenicians, the Ancient Greeks, the Romans, the Venetians and the Crusader Kings, frames a coastline of pretty beaches and rocky coves, Inland, olive and lemon groves march up the foothills of the Kyrenia mountain range. Along their peak, verdant pine trees spread a gentle blanket of green, creating a cool haven from the summer heat.
3. There’s lots of room. At 13,000 square miles, North Cyprus is about the size of Moldova, but its population is just 380,000. That means there’s still an awful lot of space. Outside of the three main towns of Lefkoşa (the capital) Kyrenia and Famagusta, you’ll find open roads and untouched landscapes, particularly in the stunning panhandle of the Karpaz peninsula.
4. There’s lots to do. Water sports, boat trips, pony-trekking, safari jeep tours, bird-watching, cycling, turtle-watching, dolphin spotting, paragliding, golfing, dining and dancing, a night at the casino … Of course, you could just sit on the beach. You can pick a “managed” area where you pay a small daily fee to use sunbeds, parasols and showers or go a little off the beaten track and find your own piece of heaven where you may well be the only person on the sand.
5. Location, location, location. North Cyprus is the Turkish side of Cyprus and, like its “Motherland” it sits on the crossroads of East and West. You can either fly via Turkey to the North’s Ercan airport or into the Greek South to Larnaca and Paphos then drive across the open border. All three airports offer connections worldwide and no visas are required.
6. The Price is Right. North Cyprus offers incredible value for money. Unlike its neighbour to the South, North Cyprus remains outside the EU. The official currency is the Turkish lira, currently one of the world’s weakest, but the Pound Sterling is widely accepted and is the de facto currency for land and property dealing, as well as for vehicle purchase. In the year from September 2021, the lira to the Pound rate nearly doubled.
Checks by the Holiday Money Report from the UK Post Office rated Turkish prices the lowest of 36 popular holiday destinations. Residents also benefit from rock bottom charges for annual property tax and water rates, with the owner of a three-bedroomed villa paying less than £20 per year. Petrol and diesel are also substantially cheaper than anywhere else in Europe or the UK
7. Which brings us to: Property costs. North Cyprus property prices are tied to the Pound Sterling, and have remained stable in the face of worldwide inflation. Most developments are funded by private capital and are therefore insulated from global banking problems. Prices are far cheaper than comparable properties anywhere else in the Mediterranean while rental yields continue to rise.
Studios and apartments are selling well, with short-term rentals achieving up to 15% annual yields. There are also many attractive seafront villas for the high-end purchaser to choose from. Projects that we are marketing are seeing capital growth of at least 30% from off-plan to completion, some achieve far more.
Come and see for yourself.
We can offer you 3 nights free accommodation to enable you to FIND YOUR FREEDOM!
