North Cyprus has emerged as an enchanting and captivating region, captivating an increasing number of property investors and home buyers. This article highlights eight compelling reasons why North Cyprus is becoming an attractive destination, as well as introduces some of its main regions for consideration.
Why invest in North Cyprus in 2023?
Capital appreciation in North Cyprus
Other benefits of investing in North Cyprus
Affordability
Affordability
The allure of North Cyprus lies in its affordability, offering a relatively low cost of living and affordable property prices compared to other parts of Europe. Whether for investing in a second home or retiring in a sunny location, North Cyprus presents an enticing option.
Breathtaking Scenery
North Cyprus boasts a spectacular coastline, rugged mountains, and a rich cultural heritage, making it a paradise for nature enthusiasts and outdoor lovers. Exploring ancient castles, monasteries, and churches adds to the region’s allure.
Pleasant Climate
With its Mediterranean climate, North Cyprus experiences long, hot summers and mild winters, providing an ideal escape from colder climates. The allure of year-round sunshine beckons those seeking a climate to enjoy throughout the year.
Thriving Economy
North Cyprus has witnessed rapid economic development, primarily fueled by the growth of its tourism industry. This progress has attracted an increasing number of foreign investors who recognize the region’s potential for long-term growth and development.
English-Speaking Community
Having been a former British colony, North Cyprus boasts a significant English-speaking population. This linguistic advantage facilitates easy integration into the local community and enables smooth business interactions for foreigners.
Convenient Accessibility
North Cyprus is easily accessible by air, with several major airlines offering direct flights to the region. This accessibility further enhances its appeal as a prime location for property investment or retirement abroad.
Favourable Tax Laws
With relatively low tax rates, especially for foreign investors, North Cyprus provides an attractive opportunity for maximizing return on investment. The region’s favourable tax laws contribute to its appeal as an investment haven.
Lucrative Rental Yields
North Cyprus presents a promising opportunity for property investors, with its growing tourism industry and appealing property prices. The potential for high rental yields makes it an enticing option for generating passive income.
Main Regions of North Cyprus
Kyrenia
Situated on the island’s northern coast, Kyrenia stands as one of North Cyprus’ most popular tourist destinations. Its picturesque harbour, historic castle, beautiful beaches, and vibrant dining, entertainment, and shopping options create a lively atmosphere.
Famagusta
Nestled along North Cyprus’ eastern coast, Famagusta is renowned for its stunning beaches, crystal-clear waters, and rich cultural heritage. The town attracts visitors with its historical sites, including the ancient city of Salamis and the Othello Castle, making it a favoured destination for water sports enthusiasts.
Iskele
Located on the northern coast, Iskele charms visitors with its traditional architecture, olive groves, and citrus orchards. The town offers a peaceful and relaxing lifestyle away from the hustle and bustle of larger towns, making it an ideal choice for those seeking tranquillity.
Guzelyurt
Found on the western coast, Guzelyurt is a historically significant town known for its citrus groves and ancient ruins. With beautiful beaches adding to its allure, Guzelyurt appeals to both tourists and residents seeking an enriching experience.
Nicosia
As the capital city of both the Republic of Cyprus and the Turkish Republic of Northern Cyprus, Nicosia stands as a cosmopolitan and culturally diverse hub. The city boasts numerous historical sites, such as the ancient city walls and the renowned Selimiye Mosque. Nicosia’s business and commercial significance further solidify its appeal to investors.
