Why Cyprus
Why Cyprus?

North Cyprus Property Investment

Property Investment in North Cyprus
There are many great reasons to consider purchasing a property in North Cyprus for both fun and profit; here are a few great reasons why any serious investor should not miss this opportunity:
Over the past 10 years, North Cyprus’s popularity with holiday makers from across world has been increasing rapidly year on year. This has lead, as in all other holiday destinations, to an equally rapid growth in ownership of property by non-Turkish nationals from many European countries, Russia and Iran.
Many of North Cyprus’s airports have recently been fully re-furbished with new terminal buildings. Large amounts of capital have been invested by the North Cyprus Government on the improvement of infrastructure including new motor ways to enable shorter travel times to the main holiday resorts.
Many new Golf courses have been built to attract a higher end consumers and others are already finished and many in construction currently under development in the districts of Mağusa (Famagusta) and Girne (Kyrenia).
The cost of property in North Cyprus, whilst still very good value for money when considered against property in the already built up markets of Spain, France, U.S.A, Portugal and Southern Cyprus, has risen in many areas by up to hundred percent over the past 10 years.
Property is still available from below £25,000 for a one bedroomed apartment in the Northern Cyprus and the potential rental yields could prove very attractive to the serious property investors looking to diversify their portfolio.
The climate in North Cyprus is amazing, the people are friendly and helpful and North Cyprus is quickly becoming the destination of choice for an ever-increasing number of holiday makers looking for a cheaper alternative to Spain or Portugal for their summer holidays.
There are an increasing number of budget airlines starting to fly into Cyprus airports and they are extending the length of the season to allow for those who have holiday homes.

Why North Cyprus Property is cheap Number 1 - Who owns the land in North Cyprus and propaganda?
When the Island was divided into the South (Greek side) and the North (Turkish Side) Greek Cypriots lost their land on the North side and Turkish Cypriots lost their land on the South side.
It is now evident to everyone involved in resolving the Cyprus problem that there will in the future be separate Turkish Cypriot and Greek Cypriot states. This has given a boost to the Turkish Cypriot (North Cyprus) side and it has removed most of the question marks previously hanging over land ownership in Northern Cyprus. There is now a common belief which refers to Annan Plan (United Nations general secretary plan 2004) that if the land in North Cyprus has a dwelling built on it then it will remain in the hands of the new owners. This is one of the reasons why there is a building boom at the moment.
Remember when you land at Larnaca airport on the South side as you step off the airplane you are setting foot on what was previously Turkish Cypriot Land, and that land is not going to be given back. It is propaganda surrounding the land issue that is keeping property prices down in North Cyprus.

Why North Cyprus Property is cheap Number 2 – There are no mortgages in North Cyprus
Sorry to report that there is no official system for mortgages in North Cyprus, this is one of the reasons the price of property in North Cyprus is so cheap. Some of the developers offer a "mortgage" but in reality what it means is that you are paying money to the developer as interest rather than a final payment on handing over the keys. You then have a longish period of time in which to pay the developer the outstanding amount. This is of course done by the developer to increase sales. There is one very important point to remember about this type of “developer mortgage” the developer will not sign over the deeds into your name until the “mortgage” has been fully paid up. So you could potentially be asking the developer in 10 years time to sign over the deeds. This could cause all sorts of legal and tax problems. You should also bare in mind that if for any reasons you have a problem with the developer or build quality of the property then with the builder holding the deeds you are in a very weak position. Our overall advice is to tread very cautiously with such “mortgage” offers.
You cannot fly direct to North Cyprus
Well this is true, at present there are no direct flights to North Cyprus from anywhere except Turkey. However, you can fly to Turkey, land, wait on the airplane for 30 – 45 minutes and then continue your journey to Ercan, North Cyprus. This adds about 90 minutes onto the flight time. You can however fly direct to Cyprus via Larnaca or Pathos on the South side and as you can pass freely through any of the checkpoints between North and South Cyprus it in practice means that you can fly direct to North Cyprus.

Why is Cyprus a Property Hotspot ?
Well this is true, at present there are no direct flights to North Cyprus from anywhere except Turkey. However, you can fly to Turkey, land, wait on the airplane for 30 – 45 minutes and then continue your journey to Ercan, North Cyprus. This adds about 90 minutes onto the flight time. You can however fly direct to Cyprus via Larnaca or Pathos on the South side and as you can pass freely through any of the checkpoints between North and South Cyprus it in practice means that you can fly direct to North Cyprus.



Subscribe to our newsletter