Financial Attractive
North Cyprus offers stable yields, tax efficiency, and significant growth potential, making it an attractive destination for real estate investors.
Low Risk
With property prices up to 60% lower than comparable Mediterranean destinations.
Quick Amortization
Average rental yields reaching 8 - 12%, North Cyprus presents a compelling opportunity for both seasoned and new real estate investors.
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Strategic Location: Situated at the crossroads of Europe, Asia, and Africa, North Cyprus enjoys a Mediterranean climate with over 300 days of sunshine annually.
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Favorable Legal Framework: The government actively encourages foreign real estate investment through incentives and legal protections.
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Currency Advantage: Property transactions are often conducted in British Pounds (GBP), Euros (EUR), Dollars (USD), Turkish Lira (TL) and even Bitcoin (BTC), providing stability against local currency fluctuations.
Why bet on North Cyprus?
Emerging Market
Property prices are expected to rise with increasing demand.
Infrastructure Projects
New marinas, golf courses, and luxury resorts are planned.
Foreign Direct Investment
Increased by 25% over the past two years.
Tourism Growth
Airport expansions set to boost visitor numbers.
Affordability
Real estate and grocery prices remain significantly lower than other Mediterranean countries.
Healthy GDP Growth and low Inflation Rate
North Cyprus has experienced an average GDP growth of 4.7% annually and its inflation rate is maintained at an average of 0.90% annually over the past eight years.
Data from datacatalog.worldbank.org
Solid Increase in Population Growth
Over the past seven years, whole Cyprus has experienced a significant rise in its annual population growth, increasing from ~ 1300 immigrants per year in 2015 to ~ 16000 immigrants per year in 2022 — a growth of approximately 1,130.0%.
Steady Property Development
Over the past 10 years, Cyprus' nominal property prices have shown a steady upward trend, with year-on-year growth rates generally ranging between 2 - 10%, especially climbing after 2017. Real price changes (inflation-adjusted) have been more volatile, experiencing negative growth from around 2011 to 2016. However, since 2021, real estate property prices have rebounded, reaching positive growth around 6% in recent years, signaling a robust recovery in inflation-adjusted property values.
Data from globalpropertyguide.com
Stabilizing Market
As of Q1 2024, Cyprus' average gross rental yields were 5.44% for apartments and 2.97% for houses. However, quarter-on-quarter, yields slightly declined by 0.04 and 0.02 percentage points, respectively, indicating market stabilization.
Data from rics.org
Tourism Impact
Visitor Numbers
North Cyprus experienced a steady annual increase in tourist arrivals of approximately 5 - 7%. In the past five years, the region welcomed around 10 million tourists, demonstrating consistent growth in its tourism sector.
Hotel Occupancy Rates
The average annual hotel occupancy rate in North Cyprus is approximately 60%, with peak seasons (particularly during the summer months) seeing rates between 70 - 80%.
Air Connectivity
North Cyprus offers convenient air travel connections via Turkey, with frequent flights from major Turkish cities like Istanbul and Ankara to Ercan International Airport.
Mediterran ROI Comparisons
| Location | Average Property Price per m² | Rental Yield | Capital Gains Tax | Annual Property Tax |
|---|---|---|---|---|
| North Cyprus | 1,200.00 € - 1,800.00 € | 7 - 10% | 0% | 0.5 - 1.00% |
| Southern Spain | 2,500.00 € - 4,500.00 € | 3 - 6% | up to 23% | 0.4 - 1.10% |
| Portugal (Algarve) | 2,300.00 € - 3,800.00 € | 4 - 6% | up to 28% | 0.3 - 0.45% |
| Dubai | 8,200.00 € - 13,600.00 € | 5 - 7% | 0% | 5.00% |
Legal Framework and Politics
Secure Ownership
The political environment in the TRNC is highly favorable for property buyers, with title deeds that are clear and internationally recognized, ensuring secure ownership. Foreign ownership rights are subject to minimal restrictions, making it relatively straightforward for international investors to purchase property. Furthermore, reputable law firms that specialize in real estate transactions are available to provide essential legal assistance, enhancing the security and confidence of these investments.
Democratic Government
In terms of legal protections, North Cyprus benefits from a stable government that operates through democratic elections. Strong relations with Turkey provide crucial economic and political support, adding another layer of stability. Additionally, there is potential for significant gains in property value as ongoing reunification discussions could eventually lead to EU membership, which would further boost the attractiveness of property investments in the region.
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