Purchase a property in Cyprus?
The answer depends on the reason why you would like to purchase a house in North Cyprus. Are you dreaming of a retirement in Northern Cyprus or do you want to make an investment with high rental income?
Northern Cyprus is seen as an escape route for those who are tired of the stress of the city. In the crowded cities you might be tired of traffic, a busy lifestyle and urban life.
You can enjoy the sea anytime convenient for you because the beach you need is just minutes away, or you can open any type of business suitable for you like restaurant or cafe to prepare food for the ones you love and customers, or maybe you are a teacher who can teach English at the elite universities of the TRNC.
If you are dreaming of a life in harmony with nature, North Cyprus is the place for you.
Those who are considering to buy a property in Northern Cyprus as an investment will easily find a place according to their budget. Property prices in the TRNC are more affordable compared to the other islands in the Mediterranean.
Potential value depends on the region. You might find a property and consider it as a great opportunity.
Return on the investment for the houses in the TRNC can be gained in a shorter time than the houses in Istanbul. If a house in Istanbul pays for itself in 20 years or more, you have a preference for your money back in the TRNC for an average of 10-15 years.
Although the official currency of Turkish Republic of Northern Cyprus is Turkish Lira, the British pound is widely used as a foreign currency. You can get a high return by renting the property in GBP.