As the pearl of the Mediterranean, North Cyprus continues to attract attention in the world, together with the latest developments. One of the most important investment areas in North Cyprus is real estate housing investments.
Real estate housing prices in North Cyprus are bought and sold in GBP (British Pounds).
With the renewal of Ercan Airport in North Cyprus, it has increased to an annual average capacity of 16 million passengers. Recently, the Turkish Republic of North Cyprus has been accepted as an observer member of the Organization of Turkish States, an international organization.
After the Turkish President Recep Tayyip Erdogan's visit to the Turkish Republic of North Cyprus on 20 July, a direct flight from Nicosia Ercan Airport to Baku/Azerbaijan a short time ago, direct flights are expected to start from the TRNC to different countries.
When we follow the current developments; We see how right decisions are made by those who invest in real estate in North Cyprus. As of August 2023, we see that the price of an average 1+1 flat in Kyrenia city center is between £80,000 and £140,000 GBP (sterling).
It is seen that the average annual housing valuation in North Cyprus is 10-15%. We see that real estate and housing purchases made with the increase in value have achieved a great value gain for investors. We can say that the housing sales in the city center of Kyrenia are very active throughout the country.
Along with your real estate investments in TRNC, you also gain an active rental income. The biggest advantage here is that the rental income in North Cyprus is taken as GBP (sterling). In the long run, your real estate investments pay for itself in 10 years. For this reason, investors show a serious interest in North Cyprus, which is the pearl of the Mediterranean.
In the last 1.5 years, after the war between Ukraine and Russia, a significant increase in Russian and Ukrainian investors has been observed in the country. It has been observed that investors from Germany, Russia, Ukraine, Iran and other countries are heavily inclined towards real estate residences and land investments and there is an active mobility throughout the island.
Considering the rising construction costs, the average m2 price in Kyrenia as of August 2023 varies between £850-£1200. Rental yields of real estates increased in parallel. It has become very difficult even to find an apartment that can be rented in city centers due to high demand. We can easily say that a rented flat is not empty, especially during the summer season.
Considering that housing prices have risen as a result of increasing housing demands and construction costs, it is not too late to invest in North Cyprus!
Contact us for the most suitable real estate for your budget, we will be happy to assist you with our professional real estate consultants in making the most suitable investment for you in Karios Estate North Cyprus!