Buying Retirement Property, North Cyprus
How do you choose North Cyprus as a retirement destination?
Well, that can be a very individual thing, however, it would seem, that for most of us, it is always a case of falling in love when we come for a holiday to North Cyprus! We then decide that it is the perfect place for our retirement or we decide to purchase
A property that will be used for holidays until it is time to retire and take up full-time residence. There are now over 10,000 British, European, and other international ex-pat residents who live happily alongside the local population. retirement property north cyprus
Why do so many people choose North Cyprus for retirement?
There are a huge number of benefits to retirement in the TRNC. Probably the most noted is simply the fabulous Mediterranean weather – out of 365 days in a year, you can expect sunshine on around 340 of them! The Cyprus climate verges on the semi-tropical and although there is of course the much-needed rain in the winter, it is generally at least 10 degrees hotter than the UK on any given day of the year with frost almost unheard of. It is well known that people over 60 benefit hugely from warmer weather and increased natural sunlight, with doctors recommending a Mediterranean climate to those with certain health conditions including arthritis.
Private healthcare and hospital facilities are “state of the art” in northern Cyprus with new centres including the Near East University Hospital and Medical School boasting world-class equipment and treatment opportunities. More and more visitors arrive in the TRNC to take advantage of the far lower prices for private healthcare and operations and find better healthcare in Cyprus than in their own country of origin!
Outdoor lifestyles are the norm
For the active retiree, there is plenty to do and ways to be actively social. We have written about life for retirees previously so check out the kinds of things you can get involved in when you retire to North Cyprus.
As we all are made aware of these days, having an active lifestyle keeps us healthy and young at heart and is so important for our wellbeing. North Cyprus offers the perfect opportunity to live your best life in retirement.
Choosing your retirement property
It is important to remember that the type of property you might look to buy when investing in property in North Cyprus for the first time, may well be different when looking at full-time retirement. In reality, many people are realistic and will plan to perhaps sell an existing apartment property and upgrade to a private villa when they eventually do retire and relocate full time. Capital gains in recent years mean they will have made a good initial investment which will then help to fund their next purchase.
If you are in the stages of looking at making that first purchase, it is a good idea to check out the potential gains in years to come. It would be fair to say that, even though prices are rising, any property in a great location, whether that be a town location or beach location in North Cyprus, will put you in a great position for capital growth.
Make sure to invest in what is right for you at the time. A 4 bedroom luxury villa in North Cyprus may well be a good first option if you are happy to earn from the investment by renting the property on the holiday market, and then look to utilize the property in later life retirement.
An apartment is a great idea for holiday lets in the shorter term and then change to a villa later on. It of course also depends on your budget at the time of initial investment.
Talk to us about investing
Whatever your reasons for taking the plunge and buying your first property in North Cyprus we are here to help. Our expert Properties Specialists are on hand to guide you on your journey and are more than happy to share their knowledge to ensure that you buy the right property for you.