Why is it a good time to buy in North Cyprus?
As the British pound stumbles against the Euro and the Dollar and interest rates in the UK are at their historical low, one cannot help but wonder – what is the best investment strategy to employ in the current market and where to invest?Quite refreshingly, with the vast choice of investment opportunities in Northern Cyprus, the British pound can still go a long way! As property prices, tax, legal and maintenance costs remain faithful to the pound with only a few utility payments made in Turkish Lira at local government offices, not only is it simpler to project your outgoings without the worry of variable currency exchange rates, but also there could not be a better time to get on the overseas property ladder.
North Cyprus is part of the third largest island in the Mediterranean and features a landscape that ranges from coastal to mountainous. It also benefits from an attractive mild Mediterranean climate, a delightful bonus when compared with more extreme climates in countries such as the United Arab Emirates. With the sun shining for up to 320 days a year, one can both ski in the Troodos Mountains and enjoy the gloriously untouched beaches for almost all year round. North Cyprus is also a place of many historical and cultural areas of interest as well as top class international bars, restaurants, hotels and casinos. With an increasing number of tourists and expatriates discovering this part of the island year on year, the rental potential becomes increasingly attractive and the demand for re-sale properties grows. For a shrewd property investor all this oozes massive opportunity in terms of investment and a profitable exit strategy potential.
As North Cyprus grows on its reputation as an emerging market and continues to attract investors and expatriates alike, property prices have increased steadily at approximately 20-25% per annum, however, prices still remain two to three times lower than in the European South of the island offering a great deal of potential for buyers.
Some of the reservations associated with buying property in Northern Cyprus still remain in respect of security of title deeds. However, if a potential purchaser invests time to understand the property purchase procedures in Northern Cyprus before entering the market, they will be able to avoid potential issues relating to land disputes and have an opportunity to invest their time and money wisely.
The above are just some of the many reasons why investment in property within North Cyprus is unlikely to be slowed for many years to come and why now is a good time to invest.
10 Good Reasons to Choose Northern Cyprus
What British press say about Northern Cyprus:
‘Kyrenia Harbour... must be one of the most beautiful sights in the world." Mail on Sunday 'You' Magazine‘..softer beaches and more impressive monuments than any in the South.’ The Financial Times
‘...the North is the best of Cyprus, their stretch of coastline is beautiful...’ The Sunday Express
‘Northern Cyprus was as good as we'd been told; miles of untainted beaches lapped by clear blue water, superb weather, cheap prices. From the moment we landed... ...we were overwhelmed by hospitality. It was as if we and the Turkish Cypriots were old friends who'd been long parted.’ Mail on Sunday 'You' Magazine
‘...there is plenty to explore – not least a largely unspoiled coastline.’ The Daily Telegraph
‘Up to 4,000 Britons are estimated to live in Northern Cyprus – hardly surprising when you see the prices.’ The Daily Telegraph
‘Emerging markets, such as Turkish-controlled northern Cyprus, are growing in popularity as investors look to capitalise on excellent capital growth as reunification moves a step closer and tourism soars.’ Mortgage Adviser Magazine; Ft Adviser, Financial Times
For further information on North Cyprus, please contact us through the Contact Us page.