About North Cyprus

If you have a question – “Why North Cyprus?”,
In this section you will find as many as 11 reasons why investors and property buyers choose North Cyprus.
Reason 1: Low Price
The very first and most obvious reason. The active and exciting property market in North Cyprus is becoming one of the fastest growing and most profitable markets in the Mediterranean. Shoppers are attracted by the stunning and simply unique nature, as well as an abundance of real estate offers for every taste. The growth of the real estate market is predicted by leading experts for the next rather long period of time and far-sighted investors are investing right now, until prices have risen to the level of the rest of the Mediterranean. More risky investors invested 3 years ago, when the political and economic situation in Northern Cyprus just began to change after 30 years of embargo. Why risk takers? Because at that time, unlike the current one, a lot was not yet regulated (in the legal and financial aspect).
Nonetheless, these investors have already felt the full increase in land and real estate prices at times. And today the price of land in North Cyprus is about 30% lower than the price of a similar object in the South, the price of a villa in the North is about 40% lower than the price of a similar property in the South. In turn, property prices in the South are significantly lower (by 30–40%) in prices for similar properties in other Mediterranean countries with a similar climate, such as Spain and Portugal.
While a detached 3-bedroom villa overlooking the Mediterranean Sea on the Spanish coast will cost you somewhere in EURO 250,000 and more, a similar villa in Northern Cyprus is available for less than EURO 120,000.
 
Reason 2: Economic development

Trends in the TRNC economy have shown consistent and continuous growth and development since 1977. Despite the high level of inflation, economic and political difficulties and obstacles – the achievement of an average annual growth rate of 4.4% should be evaluated as a significant achievement. The cost of living in Northern Cyprus is one of the lowest among all Mediterranean countries. Prices for raw materials, materials and products here are relatively low, and very often of quite comparable or even better quality.
In general, the property market in Northern Cyprus is one of the fastest growing markets in Europe. Investors are attracted by the real and potential appreciation combined with return on investment at a level with other European countries and the UK. The country is experiencing an investment boom in the real estate market, with growth potential and a significant return on investment.
Also, there are no restrictions on the rental of housing, and with the existing support of the TRNC government for the active development of tourism in Northern Cyprus, renting housing to an ever-increasing number of holidaymakers is easy and profitable. The rental housing market is also very lively and tends to grow well, which allows your investment to quickly pay off.
Reason 3: A significant increase in tourism

Tourism continues to be the main priority sector and one of the main factors for the economic development of the TRNC. It is obvious that in many tourist regions of the world the shortage of hotel rooms is quickly being filled by large international hotel chains. They are still very poorly represented in Northern Cyprus – partly because of the still unworked financial system in the country, and in many cases for fear that by developing their network in Northern Cyprus they will cause disapproval and negative reaction from their hotels in Southern Cyprus. in Greece and its islands.
In parallel with the economic development program adopted by the Government of the TRNC, the tourism sector was designated as the most important sector of economic development, and the Government decided to promote and provide all necessary benefits and incentives to potential investors in the tourism sector. The government designated Bafra as the most important Tourist Region in the country. On our website you can find information about projects for the construction of luxury 5 * hotels (the first one has already opened and receives guests) in this region of Northern Cyprus.
Reason 4: “Visa-free” entry

Compared to other Mediterranean countries, entry into Northern Cyprus is carried out on a visa obtained in Turkey. At any time you can buy a ticket and fly in, you do not need to buy a ticket or go to the embassy to open a visa.
There are 2 modern airports in Northern Cyprus – Ercan and Gecitkale. The road to Ta Catehomena – “occupied territories” —was recently opened, and everyone can be convinced that the horrendous “horror stories” about “confiscated rental cars” and other anti-propaganda are nothing more than a Greek myth. The TRNC is now actively encouraging and developing tourism, and crossing the border is easier than going somewhere else.
In addition, from here to practically any European city, no more than 3 hours of flight, which, compared to traveling to other resorts, is short and inexpensive.
Reason 5: International support

The European Union has defined assistance at 259 million euros in support of Northern Cyprus and the development of its infrastructure, thereby authorizing a substantial inflow of foreign capital into the country and preparing it for the subsequent significant inflow of tourists.
The international community significantly softened its position on Northern Cyprus after the overwhelming majority of the country’s citizens voted in favor of the UN resolution in 2004, known as the Annan Plan, while the Greek side rejected the proposal for a peaceful settlement of the “Cyprus Question “. US Secretary of State Condoleezza Rice and British Foreign Secretary Jack Straw met in North Cyprus with President Talat, and this meeting was of great political importance for both Cyprus and the world community.
Reason 6: A promising future
International diplomatic sanctions, as well as trade and tourism embargoes are gradually lifted.
The European Union has identified assistance in the amount of 259 million Euros for the development of Northern Cyprus and the improvement of its infrastructure, thus opening the way for active foreign investment in the country, and preparing it for the projected significant influx of tourists. Northern Cyprus in its current situation is very similar to Spain 30 years ago, when, after many years of isolation, the country began to “open up” to the world community. Look at Spain now, and imagine what kind of revenues far-sighted investors have received and continue to receive, having invested in the then open country. Perhaps somewhere in the world there are still only such “hot spots” for investors, but in the Mediterranean, Northern Cyprus is the only such place left.
The new airport Ercan, which opened in May 2004, will allow direct flights to Northern Cyprus to be received for the first time since 1974, as soon as the tourist embargo finally “falls”. This fact, according to the most modest estimates, will allow increasing the annual number of tourists from 433,000 to 2 million people over the next five years. And it will still be below the current level of the number of 2.3 million tourists visiting South Cyprus annually.
According to UN estimates, about 30,000 villas need to be built in Northern Cyprus over the next 3 years. The current figure of 500-1000 per year indicates a greater likelihood of a deficit, and, accordingly, a projected price increase.
The international-class golf club, recently opened, and the two yacht clubs currently under construction attract an increasing influx of tourists, and tourism plays a major role in the economic development and stability of Northern Cyprus.
 
Reason 7: Farsighted policy of the TRNC Government

The government of the TRNC is showing foresight and sanity, at the state level, prohibiting building above 2 floors and closer than 100 meters to the beach.
Architects and developers from all over the world learned a lesson from the mistakes made by their predecessors during the 70s – 90s, in many countries of the world you can now see the reconstruction of the previously built, in an attempt to restore the original beauty of nature, which was destroyed.
Developers in Northern Cyprus understand the need for respect for nature when building buildings (the state laws of Northern Cyprus strongly urge them to understand this). City architects learned a lesson from the mistakes made in the southern part of Cyprus, where nature was damaged by the construction of multi-storey low-quality apartment blocks and hotels, and in Northern Cyprus there is an unconditional prohibition on such buildings, so as not to disturb the views of other houses and not disturb the beauty in general – all this makes Northern Cyprus an unusually attractive place.
There are also many lands with the status of a conservation area (mainly in the Karpas), where nothing can be built at all to preserve and protect rare and untouched nature.
Reason 8: The ideal climate and nature
Cyprus has a mild Mediterranean climate, with a long dry summer from mid-May to mid-October and with a mild winter from December to February, with an average of 340 sunny days a year. In summer, the average temperature varies between + 30-35 degrees Celsius, while in winter it often rains (about 500 mm of precipitation) and the average winter temperature is + 12-17 degrees. The temperature of the sea varies from the lowest in January (+16 somewhere) to +28 in August. The sea is crystal clear, and the sea life has not yet been disturbed by anyone. The depths of the sea are fraught with a lot of living creatures, corals, the remains of ancient ships and ancient monuments.
Nature in Northern Cyprus wakes up in November, when, in response to the first rains of the field, they are covered with fresh greens. In the fall, winter and spring, the gaze opens to the charming variety of lush vegetation. Anemones, cyclamens, daffodils, hyacinths, irises, wild orchids, wild tulips and almond trees – everything flourishes until the very end of March. There is no more place in the Mediterranean that boasts more than 30 species of wild orchids! Olive and carob trees grow splendidly throughout the territory, along with citrus trees – oranges, lemons and grapefruits, various melons and vegetables are also grown.
The mountains are covered with fragrant pine forests, and acacias and eucalyptus trees are rampant throughout the coastline. The landscape is ideal for breeding goats and sheep, and travelers are admired by the species of sheep flocks peacefully grazing in the mountains.
Reason 9: No crime, no traffic jams, no industrial areas

And that’s it! Indeed, if a traffic accident occurs in the country, then the next day it will be in all local newspapers on the front page. There is no question of any other crime, it is simply SAFE here. The most shocking for foreigners (especially from Russia and the CIS) is that people can safely leave their car unlocked, at home, at the store, or somewhere else .. Indeed, the island is small and there are practically no hijackings.
And if at the traffic lights gathered from the heels of cars – the locals sigh: “Cork”, what causes visitors from large megalopolises who know that there is a “cork &” indulgent smiles.
From industrial facilities, only thermal power plants were seen, on the road from Kyrenia to Esentepe (well, where can I go without it), and a factory for the production of materials for road surfaces, on the road from Kyrenia to Ercan Airport. Perhaps there are still small, local factories for the production of building materials. That’s all: no chemicals that poison the air; no processing, violating the environment.
All these factors are extremely attractive – both for tourists and for those who want to live here more time than just a vacation.
Reason 10: New Compensation Act

The new Law was adopted on behalf of the European Court of Human Rights, following the recent decision to focus on the fact that the TRNC Commission on Real Estate Compensation did not properly provide reimbursement options.
Any land / real estate transaction made by anyone, a foreigner or a citizen of the TRNC, after 1974, is 100% legitimate and risk-free, and any necessary compensation will be paid from the Fund established under the Government of the TRNC, and the need for this compensation may only arise after any solution of the Cyprus question.
First of all, it is worth noting that if there will be a need for any compensation, they will be just scanty. They will be calculated based on the value of land / real estate at 1974 prices, indexed for increment. That is, if some compensation will be accepted after the decision of the Cyprus question, then it will most likely be approximately from 8% to 15% of the cost of a typical villa or apartment. This is even less than the annual income from the rental of this property.
Every Greek Cypriot who has left his land / property in the North can now calmly apply to the TRNC Court for this or that compensation, exchange or return of land / property.
Any compensation (if any) is paid from a fund provided by Turkey, created on behalf of the European Court of Human Rights and specifically designed for this purpose, and legal experts say that no current owner of property in Northern Cyprus (whether it is a citizen of the TRNC or foreigner) will not pay any compensation. It is obvious that the number of objects owned by foreigners purchased at a price lower than the original value of the property / land in 1974 will be negligible.
A new law was passed on behalf of the European Court of Human Rights, following a recent decision to focus on the fact that the former TRNC Real Estate Compensation Commission did not properly provide reimbursement options.
Any land / real estate transaction made by anyone, a foreigner or a citizen of the TRNC, after 1974, is 100% legitimate and risk-free, and any necessary compensation will be paid from the Fund established under the Government of the TRNC, and the need for this compensation may only arise after any solution of the Cyprus question.
 
Reason 11: High growth rates of the real estate market

Northern Cyprus remained undisclosed for many years, after Cyprus was divided into 2 parts after 1974, and as a result, it avoided the massive, aesthetic construction that other Mediterranean coastal regions underwent in the 1970s, 80s and 90s. Now a number of factors and reasons contribute to a significant influx of people wishing to visit Northern Cyprus and the rise of the real estate market. As soon as the border crossing rules were simplified and the prohibitions were lifted, the north of the island became more accessible. The referendum held on the “Annan Plan” caused a lot of publicity and attracted even more tourists and investors to the northern part of the island. Everything also goes to the fact that direct flights to Ercan International Airport will be allowed (for now, aircraft must land in Turkey, and only then fly to Northern Cyprus) – however, aircraft from the United States and Azerbaijan are flying directly to Ercan, also actively interests are being lobbied to address the issue of direct flights from the UK and Germany. The main approach of the European Union is a policy of ending the 30-year isolation of Northern Cyprus. As soon as direct flights are allowed – the inflow of both investors and tourists will increase dramatically, which will lead to a sharp jump in prices for the purchase and rental of real estate.
Today, the Government of Northern Cyprus predicts a significant influx of visitors in the next few years. The main concern is the lack of places in hotels. In fact, the TRNC Government today speaks of missing at least 30,000 places in hotels over the next 2-3 years and about 50,000 additional places after a decade (10 years) – which is 500% growth in the current number of places. This level of demand will significantly affect the prices of real estate in Northern Cyprus.
 
Conclusion

The property market in North Cyprus is becoming one of the fastest growing and most profitable markets in the Mediterranean. Real estate here is definitely worth the money for which it is for sale; similar objects in Spain, France or Greece are sometimes more than 3 times more expensive. As a result, it is important to realize that investors, both local and foreign, are actively buying in the new promising real estate market, in anticipation of good profits. On top of that, the process of buying property in Northern Cyprus is simple, transparent and reliable, since the legal system here is arranged in a manner similar to the British legal system, one of the oldest and most proven legal systems in the world.
This allows a foreign investor to smoothly and securely conclude real estate transactions. All this, coupled with the excellent location of the country means that the possibility of obtaining excellent investment income is constantly growing.