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Why Cyprus



Why North Cyprus?

Why North Cyprus is Advantageous for Estate Investment?


North Cyprus is a rising star of the recent estate investment field. Beneath, there lies education and tourism investments of course. Let’s analyse the reasons for this rise.


Instability and distress within Turkish market and politics. The decrease in rent-related income and thus increase in rent deposit durations along with decrease in estates sector. Cyprus, in other words, foster land, has drawn attention of the estates investors in Turkey. With its highest peaceful atmosphere, the reasons to invest in North Cyprus are as follows:




1. Ever Ascending Values in Cyprus:

The house purchase prices in the last 5 years in North Cyprus has increased by 10 per cent and 12 per cent. This increase, has drawn all attention of investors to North Cyprus. TRNC current socio-economic situation is in a young and dynamic structure in terms of House Market. While this feature has a positive impact on house market, it also indicates that it is ever expanding sector, which is deemed as an advantage. Turkish Republic of Northern Cyprus has a market within the house sector in which local and foreign investors are taking roles and becoming vendors. This increase in almost all regions of the island does not escape from the attention.

2. The Effect of Pound-Based Sales on the Profit

A good investor do not intimidate to invest with Pounds. The reason is that the Pound has gained an increase before the Turkish Lira by 65 per cent in the last 5 years. The ones who had bought houses, turned them into profit. How? While 1 Pound equalled to 4.20 Turkish Liras in 2015 July, recently it equals to 10.50 Turkish Liras. In other words, an investor who had bought an apartment for 210.000TL in exchange of 50.000 Pounds in 2015 July, now has an apartment which has a worth of 346.000 TL, not considering any house purchase increase. Thus, the investor has 136.000TL profit by 65 per cent currency rate.


3. Rent Gaining

One of the other important reasons to invest in North Cyprus is the duration of the rent deposits. While the minimum rent deposit duration in a city like İstanbul is 25 years, This duration changes between 10 to 16 years in North Cyprus. If to exemplify the monthly rent of a 2+1 apartment in Girne is around 400 Pounds. This equalls to 4,800 Pounds annually. As the apartment purchase prices increased in Girne estates sector, the rent deposit durations have been increased to 16 years. The biggest reason for this is that the development rights are limited along with the commissions and extreme increase of the terrains. Yet, there are regions with high rent deposits. The deposits of rents in Mağusa and Lefkoşa starts from 12 years. While in a mega city like İstanbul the deposit durations vary between 25 to 30 years, the durations in North Cyprus draw attention of the investors.

4. High Qualified Education Centre

There are around 100,000 local and foreign students in North Cyprus. These students are enrolling to North Cyprus Universities for undergraduate and post-graduate education starting from the secondary and high-schools. Accredited by YÖK, North Cyprus Universities which provide world-standard education are at the heart of the TRNC economy. Recently, the private schools which provide foreign-language-oriented syllabus starting from primary schools are on demand. Especially, the families which are concerned in the education system in Turkey move to North Cyprus and thus enrol their children to North Cyprus Universities which cost as half as of those in Turkey. At the end, children not only are raised in a peaceful and secure environment, but also be educated by mostly English at Cambridge standards.

5. The Nature of Cypriots

Other than the above, I reckon one of the most important reasons is that the Cypriot people are a part of decent, pleasant and educated nation. Cypriot people are patriotic, democratic and social humans. Love to be friendly, our nation loves to greet and embrace all guests from all over the world, regardless of their races. Due to the small nature of the island, there are societal values of the nation, therefore, they do not tend to be involved in any action that would jeopardize their reputations. I can say that most of the community is trustworthy and credible. Cypriots do not close their eyes to injustice. They do not intimidate to protest against whoever is misusing the just at the municipalities, government or other authorities. It is nearly impossible to separate the nation which believes into democracy.