“Promising” NC property prospects
North Cyprus property offers an affordable investment with the prospect of high returns, according to a London-based news outlet.
The London Economic is a digital newspaper that describes itself as liberal, progressive, pro-European and pro-business. The report, “North Cyprus Property Market in 2023: An Overview,” by Ben Williams, says the TRNC has been attracting more visitors every year, and has become an increasingly popular holiday destination.
It comes hot on the heels of a survey by US investment site “Live and Invest Overseas,” which rated North Cyprus as one of the top ten places in the world to retire.
The London Economic praises “untouched nature and mesmerizing landscapes,” “a comfortable and peaceful lifestyle,” plus “rich entertainment options.” It says investing in North Cyprus properties is promising thanks to the country’s low population density, affordable cost of living, untapped natural beauty, “posh” lifestyle, affordable property options, room for development, and high rental income potential. Even small investors with lower budgets can earn a good profit due to the high return on investment in North Cyprus.
The cost of living, says the report, is lower than in most European countries, with property still relatively affordable. “Investing in the real estate and hospitality sectors can be a wise choice,” it adds. It points out that the country’s popularity as a holiday destination makes rental properties very valuable and even small investors with lower budgets can earn a good profit.
The capital, Lefkoşa, has plenty of real estate projects; both for residential and commercial purposes. In Kyrenia, the demand for holiday rentals is high and big investors can make huge profits by investing in the hospitality industry.
Famagusta’s deep-rooted history, rich cultural heritage, sandy beaches, and a wide range of amenities, says the report, attract all kinds of people including tourists, small and big investors, students, and retirees. It also recommends Iskele as one of the up-and-coming investment areas, describing it as the perfect destination for long-term investments
You can read the full report here: https://www.thelondoneconomic.com/property/north-cyprus-property-market-in-2023-an-overview-347929/