Property in Cyprus as a profitable investment 2023

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Investing in overseas real estate in 2023 has taken on a whole new meaning – amid high inflation in many countries, this is a great way to keep your savings. Buying a house in North Cyprus is actually saving cash from depreciation. Moreover, this jurisdiction is very loyal to foreign investors.

Acquiring your own Cypriot apartment is also recommended for applicants for a residence permit of the country. For those foreigners who prefer to earn money by renting foreign real estate, an apartment in Northern Cyprus can bring a solid regular income.

Property in Northern Cyprus – where to buy?

Not every object can be called profitable. Moreover, in certain regions and on certain lands, houses and other housing stock may not be available for purchase by foreign citizens.

Let’s see the most popular areas where it is better to buy an apartment or a house in Northern Cyprus:

  • Kyrenia (Girne) – a popular location for permanent residence, prices in the range of 82-120k EUR for small apartments;
  • Nicosia (Lefkosha) is the business center of the republic, where a small apartment will cost you 70-100k EUR;
  • Morphou (Gyuzelyurt) is a town surrounded by picturesque mountainous nature with a real estate value in the range of 70-90k EUR for a cozy apartment;
  • Iskele (Trikomo) is the tourist center of Northern Cyprus with prices in the range of 130-150k EUR for an apartment.

When planning to buy an apartment in Northern Cyprus, we also recommend paying attention to Famagusta (Gazimagusa), where the unique old architecture is combined with high-tech new buildings. Here, the cost of housing varies between 300k EUR for a private house and an average of 90k EUR for an apartment.

Annual yield of Cypriot houses

The profitability of property per year (rising in price) can range from 10% to 20%, depending on many factors that form the value of housing. This is one of the reasons why it is better to buy property in Northern Cyprus with an expert. The knowledge and experience of Prime Pro Investment representatives will allow you to avoid mistakes in documents, buy legal property in an excellent area with the prospect of profitable resale or rent.

North Cyprus has been growing in popularity and value in recent years. It has made a great reputation for its natural beauty and cultural heritage. The pleasant and hospitable Turkish-Cypriot people, the unspoiled traditional buildings and the nature of the villages are quite remarkable for real estate investors – https://primeproinvest.com/