North Cyprus

INVESTING IN NORTH CYPRUS The Rising Investment Property prices in North Cyprus have skyrocketed since the beginning of the year. Every year, the price of a square meter rises by 10 percent. (In key investment zones in North Cyprus, property values are increasing at a rate of as high as 10% per year.) Prices have been extremely steady elsewhere. The prices, however, in the other Eurozone regions are decreasing. A rising cost Property of Northern Cyprus has been created by private funds rather than loans from the international financial system, which explains why prices have been consistent. As a result, the housing market that is located in North Cyprus was sheltered from the global financial crisis). The most effective resale strategy is to purchase a property that is under construction and the developer sells it at the lowest cost. The property is then resold at the value of the market price for completed projects Home for sale once construction is completed (usually about a year after the beginning of the construction). From the time the project is off the ground to realisation, the property’s value rises by up to 30 percent in capital. Low Tax Tax on real property in the Northern part from the island Cyprus is quite low. We have mentioned the taxes and other costs that the foreign owner must pay for the real estate. Greater Rental Yields Commercial real estate in Northern Cyprus (retail, offices) generates more money than residential real estate in any other country. On the other side the risks are higher and will require the need for substantial investments. This isn’t something each investor can afford.Every year, residential real estate in North Cyprus grows more costly. Furthermore, by renting out residences for vacation, the owner can earn 10% per year. Studios and apartments with one or two bedrooms are the most popular.Short-term renting is now bringing the greatest profits. A person who owns the property can earn as much as at 15% per year in the right circumstances.

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