10 reasons to buy property in North Cyprus?
- 03.11.2022
- Article
We will talk about 10 reasons to buy and invest in real estate in Northern Cyprus, which is the Pearl of the Mediterranean.
1-Real Estate Value Increase
There is a certain limit to the lands in Northern Cyprus. Many plots and houses are sold every day. The annual average real estate value increase in Northern Cyprus is between 5% and 10%. With the increasing construction investments in city centers, especially in Kyrenia, and the increasing attraction of Northern Cyprus, the main focus of the investors is the investment preference in the center of Kyrenia and its surroundings.
2-Rental Income
The most logical thing to do for investment purposes in Northern Cyprus is to buy a real estate. 1+1 flats in Kyrenia city center are offered for sale at prices ranging from £49,900 to £65,000 on average. According to the projects, the flats on sale are also sold fully furnished. The average rent of your 1+1 flat with quality furnishings, in a good location, varies between £350-£500 GBP for Kyrenia city centre.
3-Return time of investment
The return of the rental income to you within 10 years of an average investment shows the quality of the investment. It is possible to return an apartment in Northern Cyprus with rental income within 10-13 years. At the same time, if we take into account the increase in the value of your real estate, we can accept this period as an average of 10 years. For this reason, many investors continue to own real estate in Northern Cyprus.
4-Natural climate of Northern Cyprus
Many investors living in cold countries prefer to buy real estate on the island, especially due to the climate of Northern Cyprus. Northern Cyprus, which has a warm climate for an average of 10 months, is an ideal location for those who want to escape from the cold weather.
5-Your Holiday Country
We can say that Northern Cyprus is a tourism paradise. Full board accommodation in a 5* star hotel in Northern Cyprus can go from 3000TL to 30.000TL during the summer season. Those who want to stay in the city in their own comfort prefer to buy a house instead of coming to the hotel every week. You can earn income by using your house for yourself in the summer season and renting it out in the winter season. You can also continue to enjoy hundreds of entertainment venues, fine restaurants and casinos in Cyprus.
6-Payment Plans
Many construction companies offer flexible payment plans for new flat purchases. In general, 35% down payment is made in the purchase of real estate. You can continue to make regular monthly payments until the end of your project. As an investment advice; In the first pre-sale of the projects, you can buy your flat at the launch price and sell it for a higher price at the end of the project. We can easily say that mostly investors buy directly from launch prices in many projects.
7-City Life
It wouldn't be wrong to call it a big life in a small city. If you are in Kyrenia, the liveliest city of the island, you will experience the city life and calmness you are looking for together. In general, there is not a very high population-human population in Northern Cyprus. Therefore, you will not waste a lot of time in traffic while living in the city. If you do not like city life, you can move away from the city centers in a very short time and evaluate alternative investment locations. Especially, you can have real estates that are 10 minutes away from the city centers at more affordable prices.
8-Luxury Lifestyle
We feel that you have decided to live in Northern Cyprus, vehicle prices in Northern Cyprus are generally similar to vehicle prices in Europe. Especially for those who prefer luxury vehicles, we state that there are no high taxes in order to live in Northern Cyprus and maintain their living standards here. Therefore, many investors, especially those who love the sea, love the island life, enjoy the fresh air and the city, have access to many locations for entertainment. There are more than 240+ hotels in Northern Cyprus.
9-Residence Permit
If you have decided to live and buy real estate in Northern Cyprus, this is great news for you. Property owners are given a 1-year residence permit with their families. If you have not sold your real estate at the end of the period, the residence permit is extended in the same way. As kairoscyprus.com, we also help in this regard.
10-Popular Location
Many investors especially prefer Northern Cyprus. Due to its location, easy transportation is provided. In addition, there are people from many different countries in the population living in Northern Cyprus. Generally, many people can speak English throughout the island. Although the mother tongue is Turkish, Turkish Lira is used throughout the island.
Let's choose the best real estate for your budget together with you. Now, if you are interested in purchasing real estate for investment purposes in North Cyprus, contact us now!
