Why do Europeans invest in property in North Cyprus?
In this article, we will look at investment property in North Cyprus, the reasons why investing is so popular, along with the superb options Kensington can offer.
It is no secret that Europeans have been investing in real estate in Northern Cyprus for many many years – British colonial rule and interest in the island since the 1890s, has left a lasting legacy in many ways, none perhaps more so than many British ex-pats returning to settle and buy an investment property in North Cyprus in their retirement. Many Turkish Cypriots speak the English language, and the Sterling currency is certainly used in the North Cyprus property market, as well as being accepted in shops, restaurants and hotels. In everyday life, British-ness is everywhere, from driving on the left to parts of the legal system.
This, in turn, has also brought interest from other parts of the world such as Scandinavian countries, with plenty of Norweigan, Swedish and Danish ex-pats making the move to North Cyprus, an extremely affordable part of the world, in comparison to their own countries, where the cost of living has always been much more expensive.
North Cyprus, a secure place to invest
There has also been a glut of investment into North Cyprus via Turkey, known as the ‘motherland’, as well as other international funding from the EU, for improvements to infrastructure, for example. Recognition of the Immovable Property Commission, by the European Courts in 2010, has also meant further confidence in the property market in North Cyprus, shrugging off the uncertainty amongst potential investors about title deed issues.
There are now many options for investing in North Cyprus property, from private villas to larger beach resort-style apartment projects which offer pre-74 title deed property with a fully managed service offering rental income and excellent capital growth potential. As an investor, you can literally take your pick of choice properties anywhere in North Cyprus, and you are guaranteed to find something to suit your budget. North Cyprus investment property prices are certainly on the increase but are still some of the best in the Mediterranean.
Investment Apartments in North Cyprus
Kensington has been working in the North Cyprus property market for 20 years, and over that time has seen much change and improvement in the country. Kensington has kept pace with the change and continues to provide great value for money property whilst providing excellent quality and service. With an impressive portfolio of properties, featuring all types of properties, we can offer clients excellent investment options.
Our most popular North Cyprus property investment has to be Thalassa Beach Resort & Spa, located in the wonderful coastal area of Bafra, just north of the city of Famagusta. Investors have been eager to put their interest into this resort, making it a very successful residential beach resort location. Now, with the imminent release of Phase II this superb resort features a wide range of facilities and amenities for everyone, with the focus solely set on providing lifestyle properties for those who wish to find a place of peace, wellness and wellbeing. We truly believe it will be the place to be for years to come! Apartments in Phase I are nearly sold out, with just a few units remaining, while Phase II will comprise a range of Studio, 1 and 2 bedroom apartment properties.
Investment Villas for sale in North Cyprus
Kensington can also provide those seeking villa investment properties the option of choosing their own plot on a small project featuring 10 modern-style villas. Villa Lavender is a modern design, with light and space paramount in the design. Featuring 3 bedrooms and pool options, these villas are selling fast, with 5 remaining, located in the ever-popular Esentepe coastal area along the north coast, just 20 minutes from the historic harbour town of Kyrenia.
If you are looking for your perfect investment property in North Cyprus then Kensington always provides a property to suit everyone. For further information on our projects, just click on any links within this article, or feel free to contact us directly for further information, pricing and details. Our sales team is always available for you.