Top 10 reasons to buy property in North Cyprus in 2024
1. Economic Benefit: Property prices in Northern Cyprus are lower than in Southern Cyprus or other European countries, while the quality and scale of projects surpass those in neighboring countries, making real estate in Northern Cyprus accessible to a broad range of buyers.
2. Geographic Location: Situated at the crossroads of three continents - Europe, Asia, and Africa - Northern Cyprus is a convenient place for travel and residence.
3. Climate: Northern Cyprus boasts a warm Mediterranean climate, making it a popular destination for tourists. The winters here are mild and warm, and the summers are comfortably cool thanks to the sea breezes. This climate offers excellent opportunities for beach holidays, water sports, and scenic tours. There are numerous beautiful beaches with clean sand and clear water where one can relax and enjoy the natural beauty.
4. Infrastructure: Northern Cyprus is gradually developing its infrastructure, including new roads, schools, hospitals, shopping centers, and other facilities, creating favorable conditions for living and investing.
5. Favorable Economic Immigration: The government of Northern Cyprus offers attractive conditions for foreign investors, including a simplified residency program and the possibility of obtaining citizenship through investment in real estate.
6. Rental Potential: Northern Cyprus is popular among tourists, creating good opportunities for renting out properties and generating a stable income. Properties intended for rental can yield an annual return of 8–12% with a payback period of about ten years. Additionally, developers sometimes offer interest-free installments for up to five or six years on properties under construction, and even on completed properties.
7. Educational Institutions: Northern Cyprus is home to about 10 international universities providing high-quality education in English, making it an attractive place for study. The universities are multicultural, focused on integration and collaboration with prestigious educational institutions worldwide, allowing students to participate in international exchange programs and earn degrees from the EU and the USA.
8. Environmental Purity: Northern Cyprus is known for its scenic beaches, clean sea, and air, making it an attractive place for living and leisure.
9. Tourism Development: Northern Cyprus is actively developing its tourism industry, creating new opportunities for investment in real estate and business development. The region is also known for its thriving "gambling tourism," with over thirty casinos offering impeccable service, free cocktails, excellent dining options, and performances by international stars.
10. Cultural Heritage: Northern Cyprus has a rich historical and cultural heritage, including ancient monuments, museums, unique architecture, and traditions, making it a unique and attractive place to live and explore.
Purchasing property in Northern Cyprus in 2024 not only provides excellent opportunities for a peaceful and measured life but also opens prospects for profitable investments and generating stable income.
