North Cyprus, situated in the Eastern Mediterranean Sea, is renowned for its pristine Mediterranean air, a rich history dating back ten thousand years, and its stunning natural beauty and beaches that annually captivate millions of tourists.
Northern Cyprus, officially known as the Turkish Republic of North Cyprus, is a country located in the Eastern Mediterranean region. Covering an area of 3,355 square kilometers, it had an estimated population of 836,382 in 2021. The official currency of this country is the Turkish lira, and its official language is Turkish. It is divided into six regions: Lefkosha, Kyrenia (Kairenia), Famagusta, Skele, Gozliort, and Lefke, with its prominent cities being Lefkosha (North Nicosia), Kyrenia (Kairenia), Famagusta, Skele, and Lefke. The climate of this country is Mediterranean, characterized by hot summers and mild, humid winters.
Logical Reasons to Invest in Real Estate in North Cyprus
In recent years, North Cyprus has emerged as an investment destination for people from various nations. The reason for this is the affordability of real estate prices compared to Southern Cyprus and Europe, coupled with the promising outlook for real estate investment in this country. In addition to this, the natural beauty of Cyprus and its tourist attractions are significant factors that draw real estate investments.
North Cyprus is a safe country:
For those considering living in North Cyprus, one of the most compelling factors is the exceptional level of safety in the country. Crime statistics are notably low, sometimes even reaching zero.
Affordable Real Estate Prices:
When compared to other Mediterranean destinations, North Cyprus stands out for its highly affordable real estate prices. Whether you’re in the market for apartments, villas, townhouses, or land, you’ll discover a range of properties that suit your budget. This makes it a perfect choice for first-time home buyers, retirees, and investors seeking to acquire property at a reasonable cost.
Annual Property Price Growth of 8% to 16%:
To the substantial real estate growth rates in Northern Cyprus, this country becomes the prime location for a lucrative investment within a short time frame.
Get Residence permit by buying property in North Cyprus:
One of the advantages of buying property in North Cyprus is the opportunity to obtain residency in this country through installment payments. By paying 35% of the property’s total value, you can secure your residency.
Low Tax rate Compared to Other Countries:
Property taxes in North Cyprus amount to just 5% of the property’s value and are a one-time payment.
No Visa Requirements:
Visiting North Cyprus is hassle-free. All you need is a valid passport with at least 6 months of validity. Tourist visas are issued upon arrival, and should you wish to extend your stay, it’s easily possible.
Various and long payment terms with interest-free installments:
Many projects offer flexible payment terms, which may include options such as 7-year interest-free financing or very low-interest installment plans.
Rental Income Potential:
North Cyprus attracts thousands of tourists and travelers each year due to its pleasant climate, stunning and unspoiled natural beauty, incredible beaches, luxurious casino hotels, and top-tier universities. As a result, there is a high potential for rental properties in this area.
Low Cost of Living:
If you’re seeking an affordable and picturesque destination for living, retirement, or studying abroad, consider Northern Cyprus. This charming nation provides a cost-effective lifestyle, delightful weather, friendly residents, and awe-inspiring landscapes, making it a rising star among popular destinations in recent years