WHY INVEST IN NORTH CYPRUS
The North part of Cyprus is officially The Turkish Republic of Northern Cyprus (TRNC). North Cyprus investment opportunity shares the popularity of Turkey as a vacation and investment zone.
The north has not been affected by the global financial crisis, where property prices have been stable and now rising by over 10% p.a. in key investment zones. This is because they were built with private capital rather than with bank loans. There has been steady growth, whereas there has been an average 40% fall in the values in the Greek Cypriot South. Many developers offer low deposit easy payment terms, even though there are no bank mortgages for foreign individuals.
Growing from year to year, the popularity of North Cyprus has turned the country into an international hot spot of property investment and tourism. Investors, large or small are attracted to North Cyprus mainly by relatively inexpensive real estate prices. Low taxes, ease of buying, the possibility of quick immigration as well as the generally lower cost of living are also factors.
Many investors choose to buy a property before construction starts, purely because these properties are usually sold at very competitive and cheaper prices. Once the property is completed, the cost of housing, as a rule, increases. Buying property from a developer, the buyer can also generally rely on a convenient payment plan before the end of construction and credit terms after.
There are many factors as to why you may invest in property in North Cyprus, but the reasons are normally the same. A different lifestyle, a decent return on investment and a cheaper cost of living.
For more information or a one on one please contact us.