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Benefits of
Buying North Cyprus Property
Villas in
North Cyprus offer the best value for money in the whole Mediterranean
region. When buying a North Cyprus villas or any other property, you
should consider the location (near the seaside or in the mountains),
proximity to the amenities (supermarkets, nearest village, etc), and
payment terms. If you cannot find what you are looking for on our list of
Northern Cyprus
villas (which by no means is comprehensive), Contact us and we will
show you the plots of land for sale and help you to built your dream home.
The price for villas has at least
doubled in the past year and is expected to grow strongly, which is always
good news for the existing and prospective investors. A three bedroom
villa with a private swimming pool in a nice location, close to Kyrenia
would cost from around £100,000. Villas for sale in
Northern Cyprus still represent excellent value for money, capital growth
potential and promising investment returns.
Politics aside, what makes
Northern Cyprus
a more attractive place to live than its Southern part? Undeniably, it is
a matter of choice and expectations, but here are the main differences,
that make this part of the island much more attractive:
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The
property in North Cyprus is a hot spot for British and other Western
European buyers at the moment. The property for sale in
Northern Cyprus
is significantly cheaper than in
Southern Cyprus.
For a villa in the South Cyprus you would be looking to pay £ 154,000,
for a similar villa in the North you would be paying well under £
100,000 (starting from £ 60,000). For a two bedroom apartment in
Southern Cyprus,
you would be expected to pay around £ 65,000, whilst in Northern Cyprus
it would cost you around £ 35,000. With the Southern Cyprus joining the
EU, the prices on property are rising, offering less and less for your
money.
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The
foreign owners of the property in
Southern Cyprus
are not allowed to let their properties, according to the current law
regulations. There is no such restriction on letting the property in
Northern Cyprus.
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Cost of
living in Northern Cyprus is cheaper than anywhere else in
Mediterranean
at the moment, whilst the southern part is expensive and the prices will
continue to rise when they join the EU. The cost of living in Southern
Cyprus is not much cheaper than in UK, whilst it is a fraction of it in
the
Northern Cyprus.
The quality and selection of food organically produced is superb and not
charged at a premium like in UK. You would lead a healthier life style
without making much effort.
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The
northern part of island is unspoilt by commercial tourism, which makes
this part of the world unique in its ancient history, untouched nature,
spacious beaches and delicious cuisine at affordable prices.
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Northern
Cyprus is virtually a crime free area and it will remind you Britain in
the 1960s. Turkish Cypriots will overwhelm you with generosity,
hospitality, warmth and politeness. The property in North Cyprus is
definitely a safe home for raising a family.
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The
Government of TRNC understands that the tourist industry plays an
important part in success of the economical development. As a result, it
introduced the incentives to get involved in the tourist industry. Such
incentives include exemptions on duty-free import of all machinery and
equipment essential for the project, zero income and corporate tax rate
for 10 years, employment of foreign workforce if not available locally,
no restrictions or limits on repatriation of profits. The list of
incentives is not inclusive. Incentives have been an effective tool in
directing the economy under free market conditions. Laws have been put
in place to give incentives in the other fields but tourism, like
industry and exports.
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During the
last few years the Turkish Republic of Northern Cyprus has become a very
important offshore business centre as a result of the growing demand of
the foreign businessmen for new offshore jurisdictions to use as a base
of their business activities. There are more than 25 offshore banks on
the island and the Government encourages the formation of such banks by
foreign investors by offering various incentives. Besides the offshore
banks, there is a wide range of banks in Northern Cyprus, who would
provide services to satisfy various business needs. Bank accounts could
be hold in £
Sterling,
Euros, Turkish Lira and US Dollars.
The combination of the above makes Northern Cyprus a fantastic
destination as it offers the cheapest cost of living and the best value
for money in Mediterranean region. Property in North Cyprus can also be
viewed as a long term investment.
Benefits of
Buying North Cyprus Property
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