Important places to invest in North Cyprus
Cyprus, popularly known as islands nation has been popular among the British investors since many years now. Cyprus can be best described as a beautiful country which also serves as the ideal real estate investment.
This is an island country which is hounded by visitors all year round, owing to its breezy Mediterranean type of climate, which makes this place worth a visit no matter what time of the year it is. With so many activities and a buzzing nightlife, Cyprus makes most of its tourists instantly fall in love with this place. Thus it is natural that most of the tourists who visit Cyprus decide to settle here. Because of this, Cyprus has lately been transformed into a dynamo for real estate investors from all over the Europe.
The real estate sector in Cyprus has been a witness to a spectacular boom since the time when this country first decided to become a member of the European Union in 2004. This place is now thronged by not only tourists-turned investors who want to buy property here as ideal holiday homes, but people who are on a lookout for ideal retirement homes also prefer this place a lot. Cyprus was earlier known as a place with majority of Greek population. However the scenario has changed in the few recent years. A large number of English speaking population and excellent climate all year around are just some of the reasons why European and American tourists are showing a keen interest in this place. Although the main language still preferred here continues to be Cypriot Greek, the number of people who speak and can understand English-speaking, foreign investors are considerably large as well.
Yet another factor why Cyprus properties are able to become an instant hit with the American and European investors is that the standard of living, left-hand drive of the car etc. is exactly the same in other developed nations of these two continents. Thus, investors do not feel at a disadvantage when they decide to purchase property here.
Some of the hottest regions in North Cyprus which are considered as ideal bargains by the property czars of this island nation include:
- Thalassa Beach Resort
- Apartments in Paphos
- Turtle Bay Village
- Savyon Village
Apart from this, some other regions, such as Protaras, Kyrenia and Famagusta are immensely popular among the foreign investors as well. The above listed places are those regions in north Cyprus which have witnessed mammoth growth in terms of real estate investment in the past few years in North Cyprus. Most of the transactions done regarding the properties situated in these areas are the ones which have resulted in huge profits for the investor. Yet another reason why these places are more preferred apart from other regions in North Cyprus is reasons, such as the close proximity of these places to some of the most happening places in the city. Apart from that, most of these places are important hotspots in themselves which make them a preferred destination by tourists and investors.
How is the property scenarion in Cyprus changing
Northern Cyprus constitutes basically one third of the whole of Cyprus. The region of Northern Cyprus is also considered to have a completely different type of real estate economy as compared to its southern counterpart.
Most of the people are able to find only costly homes and villas in the region of Southern Cyprus. However the scenario is quite different in this other part, which is popularly known as Northern Cyprus. In the last few years, a number of extraordinary events and promotional bids took place in order to promote Cyprus. And this promotional effort which is in continuation till date, has managed to attract a lot of potential buyers as well.
Most of the people arriving in Cyprus for investment purposes turn to the property sector as investment in real estate is the only aspect which promises an individual sharp capital appreciation and long term investment potential as well. This is the only sector in northern Cyprus which promises the investors of assured, future gains as well.
However, in the year 2006, the dispute between Northern and Southern Cyprus grew to a large extent regarding the abandonment of the Greek Cypriot from their native lands. In order to resolve the dispute and device a possible solution, it was amiably decided among the Cyprus government that the natives of Northern Cyprus i.e. the Greek Cypriots would finally be allowed to lay claim to their properties which were forcefully abandoned by their ancestors long ago. It is generally believed that this decision taken by the Cyprus government will help to improve the situation in southern Cyprus, where more expensive and posh villas are available for sale, although the standard of living remains the same.
Moreover, it is believed that this bid will also help the property market in North Cyprus which was earlier considered disputed and a troublesome area to invest into.
Earlier, one of the main concerns which used to hound a number of potential buyers was that after making the purchase for their dream homes well suited for holiday or retirement purposes may be dragged into controversy again. The buyers used to be apprehensive of the fact that they may have to cough up additional amount of sum in order to compensate the original owners i.e. the Greek refugees for their little home. Yet another reason why north Cyprus is again being considered as a hot destination for real estate investments is the fact that the Cyprus government has finally allowed the airport in North Cyprus to be used for direct flights and other flights from all over the Europe. This is a pretty good piece of information for investors from others parts of the continent who can easily access this place via a direct flight without any hassles. This step was taken considering in mind that no buyer would like to invest his money in a place which is not easily accessible and can prove to be a hassle to reach to, let alone building a house there.
