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Investments in North Cyprus

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Northern Cyprus is often mentioned in the international investment market chronicles, promptly burst into here, as the territory of huge financial prospects. Major investment potential of the republic is its real estate, which has already been predicted the future of the South Cyprus. If recently one could buy quite a decent apartment in a few tens of thousands of U.S. dollars, now this money is enough for a month sojourn at the hotel. Russians, who bought fair share of property in the southern part of the island, raised the demand for real estate. According to prognosis Northern Cyprus will get through the same. Currently you can buy a cozy apartment with living room and several bedrooms only for a couple of million rubles, and for a few million dollars - a luxury villa of a few hundred square meters with a pool, garden and other benefits. However according to experts prices will rise significantly in a few years. Nowadays 250,000 tourists visit Northern Cyprus annually and the number is steadily growing. At the same time more and more tourists prefer apartments and mansions to hotels. Due to rising demand, rental prices will be steadily increased as well as owners’ income. Renting out real proprieties brings a stable income, which compensates for all expenditures connected with purchasing for a few years. This is significantly higher than property return ratio in other countries. According to statistics, the annual rental income from apartments and villas is 10-12% of their initial value. As practice shows it’s better to buy real estate which is under construction, then it will be much cheaper, and one can use both credit offers and hire purchase. Together with residential real estate good financial performance are shown by retail real estate, tourism, entertainment and leisure and game industry of Northern Cyprus. Besides majority of infrastructures are still at their start. The capital allocation methods are referred to those who are going to do an active business in the republic. Northern Cyprus is a great opportunity for investments. And according to other countries’ financial experience those who noticed it in time and managed to invest at its start have greatly benefited.

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Northern Cyprus Property: An Outward Glance

At home, as we know, even the walls help. And if these walls are in the sunny island, surrounded by golden beaches, Mediterranean Sea, orange trees and exotic flowers, it's a double pleasure. Looking at the magical landscapes of Northern Cyprus it's hard to believe that life here is not such a utopian dream. One could become a rightful island resident if he buys one of the local apartments or cottages. Currently Northern Cyprus property has reached a peak of popularity. Spacious, beautifully furnished apartments are sold at incredibly low prices, destroying the myth that only privileged elite can get housing abroad. Local property can be divided into several key types. One-, two- roomed and more spacious apartments as well as double-level flats in apartment complex refer to the most democratic: classical urban, smoothed by breathtaking views from the window and scent of the sea floating in the air. For those who cannot turn away from the big city atmosphere. Most of such complexes are equipped with swimming pools and there are stores and service organizations on the ground floors. An improved version is luxury penthouse apartments. Usually, they are on the upper floors, with huge rooms, separate swimming pool and other exclusive features. Such cottages are for those who prefer not to neighbour. Penthouse prices are not very different from the apartments, but for sure there are benefits of a detached house. More expensive solution is a villa. This is solid and much larger property. Constructions maybe inspired by antiquity, may look like a beautiful ancient castle or a fabulous palace, and may be a cutting edge building, in the spirit of modernism - Northern Cyprus property is not monotonous. Shape, size, interior design, distance from the sea and additional features, such as a swimming pool, sauna, garden is depended on the wishes of future residents. Regardless of property type in question, they are all built with regard to customers’ wishes: open planning, interior design, furnishings and appliances. Professional workers under the guidance of experienced architects use only sound, well-behaved materials for the construction project.

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