Unfortunately, due to politics, North Cyprus hasn’t been on the tourist map for a number of years, but recent political events seem to be changing all that now. Only the southern part of the island has been discovered by British tourists, but the negative result has been higher prices and excessive commercialization. That’s what makes the north so interesting, as the cost of land is cheaper and it’s been largely untouched by the tourism industry, so you can see why it won’t take long for developers to move in.
Although it is just a coincidence, the north has more natural beauty to offer than the south, which makes it even more attractive for investment. There is quite an amazing stretch of coastline to discover, as well as a true traditional Cypriot lifestyle, untouched for so many years. It is not a real surprise that there is a lot of development happening in the North, and their confidence is due to the fact that final prices are 50% lower than in the South.
If you are lucky enough to buy off plan you can expect a 30% increase in value by the time of completion in the Kyrenia District area. The same district is also a very popular tourist destination in the summer and there is already a shortage of villas for rent. The latest project to come online is to the east of Kyrenia, where a new 18-hole golf course and marina are being developed. This region of Cyprus is right by the sea and is surrounded by mountain peaks, but land is much cheaper here compared to other developed Mediterranean countries.
Real Estate Development: This has probably become the best way to make a quick profit in modern times as Europe has really opened up. The growth spurt has just started in North Cyprus, so you could say things have just started and it’s like anything else… The pioneers make the biggest profits. Real estate investing has quickly become popular in recent years as it becomes the safest method of earning money, especially when banks start to close their doors. Northern Cyprus is not only a safe place to invest, it will make you rich, so make sure you get your foot on the ladder quickly.
I have no doubt that North Cyprus villas and apartments for sale will provide potential investors with a quick or long-term return, and that the way to make the most profit is by going directly to the builder. This is where you’re going to need a little advice and guidance, so you can walk away with the best possible deal.
The recent surge in development has really put the north on the map and tourism is growing rapidly as packages are organized to allow people to come and make the most of this unspoiled part of Cyprus. Some outstanding issues remain between the governments of North and South Cyprus, although enormous progress has been made recently thanks to the help of the EC. One thing they do agree on is free movement throughout the island for tourists, so you can really feel the adventure in Cyprus.