Property in North Cyprus

North Cyprus Property

Redland Property Group can help you invest in North Cyprus Property as we have extensive experience in this market.

Please see below for reason why you would want to invest in North Cyprus Property:

 

  • Fast investment return
  • Low prices
  • Growing economy – North Cyprus is a small place, but with a fast growing economy providing a wide range of investment opportunities
  • Safe place to invest – top 3 lowest crime rate in Europe
  • Guaranteed rental income- over 60.000 young people from more than 100 countries study at its international universities, making education the leading sector of its economy
  • Visa free for all Eastern European countries
  • 10 years income tax free for investments in the Tourism sector
  • Increasing  Tourism, partly due to the increase in 5 star hotels and casinos and extension of the national airport,Ercan
  • Political security. There is a strong willingness on both sides of the island for a reunification, which will boost property prices in North Cyprus and will open many business opportunities

Do you remember your first foreign holiday; how the warm air hit you when you stepped through the door of the plane, the sunlight pouring through the window first thing in the morning, sea water as warm and gentle as a bath and the smell of barbecued lamb and herbs for dinner? Well that’s North Cyprus, the Mediterranean as it used to be.

It’s no wonder that increasing numbers of Europeans and Scandinavians are choosing to buy property in this lovely and historic place. Britons in particular feel at home in North Cyprus, where they drive on the left hand side of the road, Sterling is accepted everywhere and most people speak English.

Life in North Cyprus is easy, but when it comes to moving abroad, or buying a holiday home, price remains a major consideration – and on this North Cyprus is a clear winner.

The northern half of Cyprus boasts some of the best beaches, the most spectacular scenery and unspoiled landscapes on the island and yet property here remains under priced because of years of political uncertainty.

For the past 40 years Cyprus has been divided into two ethnic regions, the Greek-Cypriot Republic in the south and the Turkish-Cypriot north.

Unrecognized by the international community and with limited transport links and some trade embargoes, the North has remained something of a Sleeping Beauty.

This has created an artificially-low property market. For example, a one-bedroom studio flat in a managed development costs just £40,000,  a newly-built two to three-bedroom apartment overlooking the sea, usually with a communal pool, can be bought for less than £70,000, while it is perfectly possible to find a three-bedroom villa with garden and pool for just under £125,000.

Even big luxury builds with all the extras tend to be about half the price of similar villas in the south and way below similar properties in France, Spain or Portugal.

But now prices are edging upwards as observers mark new political developments which seem likely to bring North Cyprus into the European fold.

Leaders of the two sides have entered into a fresh round of talks aimed at settling their 40-year-old division. Hopes are high that a UN-backed deal will create a new bi-zonal Federation of Cyprus, formed by two equal states of Greek Cypriots and Turkish Cypriots. This would mean North Cyprus joining South Cyprus as a fully-recognised member of the EU.

In 2004 a similar proposal known as the Annan Plan sparked the first North Cyprus property boom. Unfortunately, reunification was ultimately rejected by the Greek Cypriot side, but those who bought property in the north at that time have seen the value of their investment more than double.

This year both sides have signed a joint agreement BEFORE sitting down to detailed talks, so the prospects for a settlement are much stronger. Local estate agents and constructors are already seeing signs of a new boom, with sales up by 25% this year and increased interest from Russia, Scandinavia and the UK.

So there has never been a better time to invest in North Cyprus.

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