Foreign Investors Choose Northern Cyprus

North Cyprus, in recent months, the Turkish Republic of Northern Cyprus (TRNC) has seen a significant surge in interest from European and Russian citizens looking to invest in its vibrant real estate market. The growing appeal of property in North Cyprus is evident as statistics show that the proportion of European Union citizens among foreigners purchasing housing in the TRNC has reached an impressive 24.6%. Additionally, Russian property investors North Cyprus are making their presence felt, contributing to the increasing demand for property for sale in North Cyprus.

Earn High Rental Income by Investing in North Cyprus

As foreign demand in the Cyprus property market continues to rise, many are exploring the benefits of buying property in North Cyprus. Investors are drawn not only by the competitive pricing but also by the attractive economic conditions. The average depreciation period for properties stands at a reasonable 10-12 years, making it an enticing opportunity for long-term investors. Furthermore, the annual rental return rate is reported at an impressive 8%, appealing to those looking for lucrative investment property in North Cyprus.

In a move to further stimulate the housing market, the TRNC government has increased the right of Turkish citizens to buy housing from one property to three, enhancing the appeal of the local market. The VAT rate on property transactions is also set at a low 5%, adding to the attractiveness for prospective buyers. As for another advantage, it is much easier for foreign retirees aged sixty and over to obtain a residence permit in North Cyprus than other citizens. Learn more by reading our article Retirement in North Cyprus now!

Invest with Professional Support!

For those considering buying property in North Cyprus as a foreigner, the support available is extensive. North Cyprus property consultants offer tailored real estate services in North Cyprus, guiding potential investors through the purchasing process. This includes providing essential buying property in North Cyprus advice, ensuring that foreign buyers can navigate local regulations and make informed decisions.

As the market continues to grow, the TRNC stands out as a prime location for property investment. The combination of a favourable economic climate, potential for high rental yields, and supportive governmental policies makes it an increasingly popular destination for European and Russian investors alike. If you want to get information about this topic, you can take a look at our article titled Where to Buy Property in North Cyprus?.

With its stunning Mediterranean coastline, favourable climate, and rich cultural heritage, it’s no wonder that buying property in North Cyprus is becoming a preferred choice for many seeking a slice of paradise. As interest continues to climb, the TRNC is poised to solidify its reputation as a key player in the international real estate market. If you want to learn more about the advantages of investing in this beautiful country, you can read our article titled Is Northern Cyprus a Good Place for Investment Properties?.

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