The Rising Investment
Property prices in North Cyprus have risen dramatically in recent years. Every year, the price of a square meter rises by 10%.(In important investment zones in North Cyprus, property values are growing at a rate of up to 10% per year.) Prices have been extremely steady in other places. In contrast, prices in other Eurozone regions are declining.
Increasing the price
Property in Northern Cyprus has been created with private cash rather than loans from the international financial system, which explains why prices have remained consistent. As a result, the housing market in North Cyprus was sheltered from the global banking crisis). The most successful resale method is to buy an object when it is still under development and the developer is selling it for the lowest price. The item is resold at the market price of finished projects when the construction is done (usually 1,5-2 years after the start of the building). From off-plan to final project realization, the property’s worth increases by up to 30% in capital.
Tax on real estate in the Northern part of the island of Cyprus is quite low. Here, we mentioned taxes and other payments that a foreign owner has to pay for the real estate.
Higher Rental Yields
Commercial real estate in Northern Cyprus (retail, offices) generates more money than residential real estate in any other country. On the other side, the dangers are greater, and it will necessitate some substantial investments. It is not something that every investor can afford.Every year, residential property in North Cyprus grows more costly. Furthermore, by renting out vacation houses, the owner may be able to earn a 10% annual return. Studio flats and apartments with one or two bedrooms are the most popular.Short-term renting is now producing the most profit. The owner of such a property can earn up to 15% per year under the right circumstances.