Cyprus where housing prices at a very reasonable level draws attention. Northern Cyprus is a very attractive country for investors. This is influenced by several factors, namely the low cost of real estate compared to other parts of the Mediterranean, a stable and growing economy, as well as tax incentives, and capital growth potential. Due to these features, Northern Cyprus is considered a very promising country for relocation and successful investments. Popular districts to buy property in North Cyprus are Kyrenia, North Nicosia and Famagusta. Some regions are better suitable to investors looking to rent to tourists and are closer to the golf clubs, while others are appropriate to lifestyle purchasers and retirees.
Types of real estate in North Cyprus
All North Cyprus real estate is divided into primary and secondary market properties. This list includes studios, apartments, townhouses, villas, and houses. Also, all real estate in North Cyprus is divided into neighborhoods, such as inside the city or in a tourist village. For 2023, the real estate market in the mentioned country is actively growing, so you can find almost any option. However, the presence of certain amenities significantly affects the final cost.
For the first financial investment, budget studios and apartments inside the city are most often chosen. Later they are rented out, which pays off in a few years. For resale, elite real estate of any type is often purchased, as in a relatively short period it can gain a lot in value, which will allow you to earn good money.
Average cost of apartments and villas in North Cyprus
The final cost of real estate in North Cyprus depends on many factors, among which location, equipment, and type play a major role. In 2023, apartments with an area of 50-70 square meters can be bought for 80-140 thousand euros. The cost of villas is an order of magnitude higher and starts from 200 thousand euros. Deciding to buy any real estate in Northern Cyprus is best to seek the help of lawyers and agents. Familiarize yourself with the list of real offers that can be found on our website.
Conclusions
Northern Cyprus has a strong economy and is popular among tourists around the world. For the year 2023 the mentioned country is considered quite young, so many analysts predict an active growth in real estate prices. If you have been thinking about buying real estate in Northern Cyprus, there is simply no better time. This is evidenced by the strong influx of investors from all countries.