North Cyprus for Investment
With warm weather, good food and beautiful beaches, it is no wonder that buying a property in Northern Cyprus is becoming more and more popular. So is North Cyprus all about the tourism? We and thousands of others don’t think so.
Being the less discovered part of Cyprus, the North offers real value for money as an investment destination. Additionally, with its perfect Mediterranean climate the demand for rental properties is increasing year on year.
This is elevating North Cyprus as the perfect place to invest and the development and real estate sectors are responding well to the demand.
With numerous new real estate projects currently under construction in North Cyprus, the real estate supply is very high right now.
For example, Kensington’s’ Thalassa Beach Resort in Bafra is one of the biggest residential projects in North Cyprus and a prime area to invest in. Kensington already has a proven record and plenty of future plans for new projects, among them: Villa Adam– Perhaps ‘The Best’ beachfront Villa on the Island, Villa Lavender which perfectly fits to full time living, Villa Jacaranda and more.
Hotels and holiday villas settle amongst fulltime homes making Northern Cyprus and ideal location for getting to know new friends and spending many great holidays.
We have already mentioned that Northern Cyprus’ real estate is relatively affordable, but prices are still edging upwards. So, what is dictating this current trend?
The political developments, that are currently taking place and the approved laws and regulations, are causing the demand for real estate to rise and so to the prices.
North Cyprus is still a developing area, therefore the prices have remained lower than the South of the Island. (probably not for much longer).
The investors and Real Estate Developers in North Cyprus, in almost 100 percent of cases didn’t involve the international banks. Therefore, the area of North Cyprus is a recession-free zone, which means the North Cyprus economy and the real estate sector grow at a slow and steady pace.
The economic crisis in Greece and Europe has also lead to buyers choosing to invest in Northern Cyprus another fact that strengthened and stabilised the economy.
The real estate market in Northern Cyprus is a very reliable, hassle-free market, for renting and buying.
In addition, buying has become much more affordable because of the new mortgage options. Nowadays, Northern Cyprus is one of the most active trending markets for investments, banking and business opportunities, but especially in the property and real estate market.
A lot of investors and developers like Kensington are reaping the benefits from their involvement in the real estate sector in North Cyprus and getting a piece of this developing, high potential zone.