The Northern Cyprus Real estate market is booming. Interest is increasing for various reasons. Northern Cyprus is considered a calm and safe place to live. Add factors such as affordable luxury homes with fantastic sea and mountain views. Improving economy, low taxes, world-class golf, good educational opportunities and more. Market forecast in 2023
When it comes to real estate, North Cyprus is HOT. Property prices continue to rise as investors become increasingly interested in the country’s lucrative market. According to the latest data from the land department, more than 5.85 billion euros of amounted transactions took place in selling 22,129 properties in 2021. This is a significant increase from the 4.6 billion euros worth of transactions in 2020.
Even more impressive is that this rise in property prices comes during a time of rising inflation and mortgage interest rates. 2022 saw the highest real estate demand ever recorded in major cities of Cyprus, including Limassol, which accounted for 2.86 billion in revenue in 2022, and Nicosia, with second place with total revenue of 1.2 billion euros worth of sales.
There are some regulatory dynamics you should keep in mind when purchasing property in Northern Cyprus. Property prices there are based on the British Pound, not the Turkish Lira, so it does not suffer from the fall of the Turkish Lira. Residential prices for apartments remain
unchanged compared to 2020, and house prices across all districts have remained steady, with those in Nicosia increasing by 1.2%.
Higher disposable incomes, a growing population, more lenient lending requirements, and interest rates contribute to increased home values and a more robust market.
In the fourth quarter of 2022, more than 5883 purchases and sales agreements were registered, leading to a whopping sales volume of 1.7 billion euros. This signals a healthy and stable market that will only improve in the years to come, and that’s not all; there are many reasons for this steady growth.
Investing your money is all about getting bang for every buck. And with Off-Plan Purchasing with View Point Realty, you can be sure that you are! Not only is the North Cyprus property market on the rise, but it’s also a low-cost investment opportunity with high returns. In other words, you can make a sizable profit without breaking the bank!
Viewpoint Realty offers extensive experience and knowledge in dealing with off-plan properties in Northern Cyprus, which is an excellent help in investing in this region. They can provide detailed advice on all aspects of investing – from finding the right property for you, making sure that the legal framework is taken care of, selecting suitable vendors, and monitoring progress during construction.
North Cyprus is a great place to think about your next investment. It’s a place of political and financial stability for the island and its attractive tax regime.
Additionally, abundant land is available for development due to its low population density compared with European countries. Furthermore, the North Cyprus property market is growing and offers investors good investment returns with low prices. It’s a secure location for investments because it is part of the European Union and close to Turkey. Tourism continues to be a big part of North Cyprus’ economy, but more so now, because of its economic stability and political security; this means that property prices are likely to remain stable or even increase over time.
For most small investors, real estate investments are generally a solid, safe choice because they don’t require direct management or a quick sell strategy (such as stocks), When it’s time to sell real estate, you have direct access to a real-time market and demand for a location with sea and/or mountain view has always been great. The homes with the best locations are the ones that increase in value the most over time. The properties we convey are selected according to our criteria: View, growth area, safe neighbourhood, proximity to school, healthcare. Safe politically and with low crime and, above all, good prospects for value growth in the future.
Our selected Property Investments in Northern Cyprus are an excellent way to build wealth, create passive income streams and provide financial security for your family.
Northern Cyprus is a stable and safe environment with political and financial stability. It is the right time to buy property in North Cyprus at very low prices as it is a growth area not too late or too early. It is very beautiful in northern Cyprus with both the turquoise colored sea and the mountains in the background. It is not only beautiful but also very safe and has some of the lowest crime rates in Europe.
Purchasing property off-plan can be one of the most advantageous ways to invest in real estate in this region, as it entitles you to receive reasonable discounts from the developer. With our experience and expertise in this market, we can help ensure that your off-plan investment deals are as profitable as possible. We strive to keep our buyers informed about the latest developments in the North Cyprus property market, ensuring that you make well-informed decisions when considering a purchase here. We continually monitor market trends and provide up-to-date information on pricing dynamics so that our customers can easily make an educated decisions.
Investors are attracted by the political and financial stability, as well as its attractive tax system. In addition, there is a large availability of land for development in Northern Cyprus which provides a very affordable buying position compared to over-exploited markets around the Mediterranean area. The growth of residential property development is happening all the time which will provide a good return for those who invest now and in the next few years.
The country attracts many tourists from all over the world due to its beautiful beaches, sunny weather, low crime and high quality of life..
