Benefits of Property Investment in North Cyprus
Investing in property in North Cyprus offers numerous advantages, making it one of the most attractive destinations for international investors. With its excellent geographical location, rich history and culture, and beautiful natural landscapes, North Cyprus has great potential for property investment. Additionally, favorable financial and tax laws, low living costs, and a thriving real estate market further contribute to making this region a smart choice for investors.
One of the most significant benefits of investing in property in North Cyprus is the steady growth in property prices. Due to high demand and limited supply, prices are continually rising, ensuring a good return on investment. Furthermore, modern infrastructure and excellent amenities, such as access to international schools, well-equipped hospitals, and modern shopping centers, are additional advantages of this region.
Benefits of Property Investment in North Cyprus
Sustainable Price Growth
Despite the lack of international recognition and economic sanctions, North Cyprus has gradually found its rightful place, and many believe that a bright future lies ahead for this region. Positive developments and the untapped potential in this country make it an attractive destination for property investors. Here, we will explore the benefits of buying a house in North Cyprus.
Installment Purchase of Property
One of the biggest advantages of buying property in North Cyprus is the ability to purchase on very favorable installment terms. Buyers can purchase their desired property over 1 to 7 years in installments without interest. These interest-free installment terms allow investors to acquire property without severe financial pressure and with peace of mind. Such conditions are particularly appealing to those looking to invest in the property market, making North Cyprus an ideal destination for purchasing real estate.
Price Variety in Real Estate
Another important advantage of buying property in North Cyprus is the wide range of prices. This diversity allows buyers to find suitable properties according to their financial conditions. The availability of properties at different price points ensures that individuals planning to migrate to North Cyprus have multiple options. The price differences are so significant that you can buy a house in one city for 70% less than in another area. This feature ensures that anyone with any budget can find a suitable property in North Cyprus and enjoy the region’s facilities and beauty.
Price Variety in Real Estate
Complete Ownership
A crucial aspect of buying property in North Cyprus is that you become the owner of both the land and the building, meaning you purchase the plot and the construction. This significant advantage translates to real and complete ownership of the property and the land. This is particularly important for Iranian buyers, as in some other countries, even after several years of residence and property purchase, they have had to sell their property cheaply to citizens of that country and leave.
This problem usually arises due to buying the building without owning the land. However, in North Cyprus, when you purchase a property, you become the full owner of the land and the building, ensuring greater legal and ownership security, which is a considerable and reassuring advantage for foreign investors.
Benefits of Investing in Property in North Cyprus
Investing in property in North Cyprus offers numerous advantages, making this region one of the most attractive destinations for international investors. With its excellent geographical location, rich history and culture, and beautiful natural landscapes, North Cyprus has significant potential for property investments. Additionally, favorable financial and tax laws, low living costs, and a thriving real estate market further contribute to making this region a smart choice for investors.
Minimum 15% Annual Property Growth
Property prices in North Cyprus increase by at least 15% annually, calculated in pounds. Notably, some residential projects in North Cyprus experienced unprecedented growth in 2022. For example, property prices in the Long Beach area increased by 95% in one year. This means that individuals who invested in this area in 2021 witnessed a remarkable increase in their property value. Such growth rates are unparalleled, indicating the high investment potential in the North Cyprus real estate market, providing significant financial returns and long-term security for investors.
Benefits of Investing in Property in North Cyprus
Investment with British Pounds
One of the key advantages of buying property in North Cyprus is that transactions are conducted in British Pounds, one of the most stable currencies in the world. This not only provides greater financial security for investors but also has another important aspect: the value of the pound increases annually in Iran. Therefore, you benefit not only from the growth of your property investment in pounds but also from the increasing value of the pound against the rial.
If you ever decide to sell your property in North Cyprus and invest in Iran, you can use the proceeds to buy suitable properties in your home country and profit in two ways: from the growth in property value in North Cyprus and the rising exchange rate of the pound in Iran. This dual advantage makes purchasing property in North Cyprus an extremely attractive and profitable option for Iranian investors.
Possibility of Having International Bank Accounts
Due to sanctions, one of the major issues Iranians face is the lack of many international privileges, including valid bank accounts for various transactions. Many Iranians are interested in participating in international businesses, but the lack of access to valid bank accounts prevents them from taking advantage of these opportunities.
One of the benefits of buying property in North Cyprus is that by purchasing property and obtaining residency, you can open a bank account in North Cyprus. These valid bank accounts allow you to easily engage in international business activities, conduct financial transactions, and benefit from a wide range of banking services. Therefore, buying property in North Cyprus is not only a profitable financial investment but also a way to overcome one of the significant obstacles to international trade for Iranians.
Earning in Dollars by Renting Property
Looking at the rental prices of properties in North Cyprus can be quite significant. If, for any reason, you do not want to stay in North Cyprus, you can rent out your property and earn in dollars, which is one of the major advantages of investing in this region. For example, the rent for a studio apartment in the Long Beach area in 2023 is approximately 500 pounds.
Earning in Dollars by Renting Property
This amount is more than three times the salary of an employee in Iran, and this level of income can be very useful in Iran. Given the value of the dollar compared to the rial, this income can provide an excellent opportunity to earn a profit and cover living expenses while enjoying the benefits of residing in a beautiful and tourist-friendly area like North Cyprus. These property rentals offer a suitable and profitable option for those seeking variety and flexibility in their investments.
Amenities
Residential projects in North Cyprus offer many amenities and recreational facilities to their residents, making life very comfortable and enjoyable. These amenities include swimming pools, saunas, gyms, restaurants, children’s playgrounds, shops, cinemas, and free internet. By purchasing property in these projects, you can enjoy these amenities similar to those found in five-star hotels. These amenities not only make life more comfortable but also provide numerous recreational opportunities for the residents. These types of amenities add a lot of attractiveness and added value to your property, making life in North Cyprus much more amazing.
Conclusion
Investing in property in North Cyprus, considering the region’s ongoing development and offering superior amenities, recreational and commercial facilities, has become a unique opportunity for investors. From affordable prices and sustainable real estate market growth to ample amenities and the region’s dynamic economy, all play a role in making this an ideal investment destination.
By purchasing property in this region, you also gain access to a diverse market of banking services, recreational facilities, and international business opportunities. Therefore, investing in property in North Cyprus goes beyond a real estate transaction and presents an opportunity for a better and more profitable life in a developing and expanding region.
