Why Should You Buy Property in Northern Cyprus?
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Discover the Hidden Gem of Northern Cyprus
Northern Cyprus is a pristine natural paradise waiting to
be rediscovered. With its endless sandy beaches, ideal Mediterranean climate,
and rich historical and cultural heritage, it offers an unparalleled living
experience.
Affordable Living in a Hidden Paradise
This region is one of the most affordable and undeveloped
places in the West, offering incredible value. Imagine renting a beach resort
for as low as $18.50 per day! Despite being a former British colony with a high
level of English language usage, it boasts low crime rates, making it a safe
and attractive place to live and invest.
A Healthy and Relaxed Lifestyle
Northern Cyprus is renowned for its healthy diets and
stress-free lifestyles, contributing to long lifespans. The region’s declining
rates of diabetes, heart attacks, and strokes continue to impress medical
professionals. Often called the "Miami of the Mediterranean," it
remains a well-kept secret despite its grandeur.
Unique Location and Growing Popularity
Home to just 330,000 people, this unique location on the EU
border is becoming increasingly popular due to its favorable business climate
and young, English-speaking population. Now is the perfect time to explore
Northern Cyprus before it experiences a significant land rush.
Thriving Medical and Educational Sectors
Northern Cyprus is a hub for medical tourism, offering
excellent healthcare facilities. Education is another key industry, with six
prestigious universities attracting thousands of international students, making
it a top destination for higher education.
Real Estate Opportunities
Northern Cyprus offers some of the finest real estate in
the West, but these opportunities won't last forever. The region's natural
beauty and hidden gems, such as pristine beaches and charming villages, make it
an attractive investment.
Why Invest in Northern Cyprus Real Estate?
Investing in real estate North Cyprus offers numerous advantages:
- High
Potential for Rapid ROI: Current low property prices
present an opportunity for quick returns on investment.
- Proximity
to the Sea: Many people dream of owning a property near
the sea, and Northern Cyprus offers this at a fraction of the cost of
other Mediterranean regions.
- Favorable
Business Climate: Northern Cyprus is gaining global
recognition for its investment-friendly environment.
Factors to Consider When Buying Property in Northern
Cyprus
When buying property in Northern Cyprus, consider the
following:
- Location:
Choose an area with potential for growth and development.
- Infrastructure:
Proximity to schools, hospitals, shops, and transport links increases
property value.
- Property
Condition: Ensure the property has good access to water
and power and consider any necessary renovations or furniture needs.
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| Buy Property in Northern Cyprus |
Current Real Estate Trends
Property sales in Northern Cyprus have surged, with buyers
from Russia, Iran, Turkey, Germany, the UK, and other European countries.
Russians, in particular, are investing heavily, seeking refuge from Western
sanctions. Germans are attracted by the low cost of living, better schools, and
lower crime rates compared to other European countries.
Student Housing Market
The demand for student housing is driving the buy-to-let
market, benefiting both local and international investors. Northern Cyprus's
strategic location attracts students from Turkey, Central Asia, Africa, Asia,
and the Middle East.
Attractive Returns
The region's low cost of living, affordable education, and
English-language curricula make it appealing to international students. Annual
rental returns have been impressive, though affected by the global pandemic and
currency fluctuations.
Optimistic Real Estate Market
The demand for rental properties in Kyrenia and its
surroundings is rising. Limited development plots and new regulations on
building units will likely drive property prices up, making it a prime time for
investment.
High Potential for Capital Growth
Investing in Kyrenia, with its limited availability of new
apartments and high demand, could see capital growth of over 30% in the near
future. Forbes has even listed Iskele as one of the top ten beach places
globally for real estate investment.
Steps to Purchase Real Estate in Northern Cyprus
- Select
a Property: Choose your desired property.
- Negotiate
Terms: Discuss and agree on the purchase price with the
seller.
- Sign
a Reservation Agreement: Pay a deposit of 1,000 to 5,000
pounds.
- Legal
Review: Hire a lawyer to review the titles.
- Complete
the Purchase: Make the payment as per the agreed terms.
Property Purchase Limits for Foreigners
Foreigners can purchase one property or donum (14,400
square feet) of land per individual or married couple, with options to own more
through companies or nominees. Northern Cyprus offers freehold titles, with no
leasehold properties.
Investment Advantages
- No
Property or Inheritance Taxes: Government guarantees on
investment assets.
- Potential
EU Access: Valid residence permits could lead to EU entry.
- Stable
Political Climate and Low Crime Rates: Attractive for
relocation and retirement.
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Conclusion
Northern Cyprus is an emerging destination for real estate
investment and relocation, offering affordable living, excellent healthcare,
and educational opportunities, and a safe, healthy environment. With its
growing popularity and investment potential, now is the perfect time to explore
this hidden gem or buy property in Northern Cyprus.
We hope you find this information helpful. Happy property
hunting!
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