Property Market in Northern Cyprus Iskele / Kyrenia. Pandemic has brought shortage among the resale housing which leads to difficulty for both the seller and the buyers. As the pandemic started, many constructors stopped or slowed down buildings because of multiple reasons. One of the initial reasons was that the social distancing compulsion made it difficult to work on sites with lots of labor and engineers working together. This was also a time of economic shortness, so people were more interested in saving money than spending money.
As the restrictions are lowered, people are rushing to purchase more property in Northern Cyprus; however, now it is much more difficult because of the high competition. The reason behind the competition is because of a limitation of the available property, and buyers are even ready to pay more to win the properties.
There is also a shortage of open lands available for people so that they can build on their own. Also, the closed factories for almost a year have led to a shortage of the required material for building houses, and other buildings, including steel, iron, bricks, cement, and even a shortage of labor as many of them have turned into other businesses or jobs.
All of this scenario has created a war over the North Cyprus property market among the house listing platforms.
Why is the North Cyprus Property Market Famous?
The North Cyprus property market attracts European, Russian, and Iranian buyers because of the calm and peaceful life in North Cyprus. The climate of North Cyprus is also warm and much suitable to live in with a beautiful and safe environment. This region attracts people towards it almost around every season. Other reasons that make Northern Cyprus a famous place to live, thus attracting many people and creating a competition of house listing platforms, are:
- No matter how small or big property you are purchasing, you will always get value for your money. North Cyprus is a place with friendly people who always welcome you no matter where you belong. You can have a glimpse of nature with sandy beaches and shining sun almost most of the time of the year.
- Northern Cyprus serves as an affordable place to live in with a lower cost of life comparable to many other countries living costs, making it a place of attraction for people living in the areas with expensive living costs.
- You can have multiple options to purchase properties. The most popular of them are near the north coast of the Kyrenia region because of the natural habitat it provides to the people living there. Apart from this, Iskele is also a preferred place where international buyers are attracted to purchase properties.
- You can purchase resale properties sold by private sellers or construction companies. The benefit is that you can have fully furnished properties at limited affordable prices.
- Suppose you do not want to purchase a resale property. In that case, you can have a new development property where you will be the authority of the property, and you can make changes of your choice by communicating with the developers. This gives you an extra benefit of less hustle, but a property constructed of your own choice.
Most Popular Areas in Northern Cyprus
Are you wondering about which places a most popular in North Cyprus? North Cyprus is located at Mediterranean offering you a glimpse of nature with beautiful borders everywhere. The total area of this Island is 3355 km2. You will find a close relation between villages and towns in this area, making it a well-communicated place to live.
There are many amazing places to live in Northern Cyprus, including Bellapais, Kyrenia, Famagusta, and many others. However, two places are more important, and both are choices for European Russians and Iranian buyers.
Kyrenia and Iskele Properties in North Cyprus
- Kyrenia properties for sale: Best Choice In the last 20 Years
Kyrenia is a beautiful harbor town spread along the coast, giving a view of the Mediterranean City. For years, it has been a center for tourist attractions being a beautiful island. It is one of the most attractive places in North Cyprus because of its cultural and economic value.
You will find multiple types of people, including tourists, locals, and even students, with the bright and sunny days inside the city sometimes being too noisy, making it unpleasant for those who seek quietness around them. Still, Kyrenia has beautiful places with amazing histories that attract you to it.
Here are some of the marvelous things about Kyrenia that make it a favorite place for Europeans, Russians, and Iranian buyers.
- Visitors and locals are attracted to the affordable cafes and restaurants near the harbour that lead you to have breakfast or lunch at good prices with a variety of Turkish menus.
- This place is a yes for those who love to look at the iconic glimpse of the sea with natural harbours. The harbour is in the shape of a horseshoe, allowing you to have a full tour around the harbour with a sight of boats and ships in multiple colors standing near the harbour.
- The historic castles of Kyrenia are a worth visiting place, and what can be better than living in a city where you can have a glimpse of the history whenever you want.
- Kyrenia offers you multiple business locations with the ease of airports within the city. The best thing is that you can have a tour of Turkey through the sea.
Kyrenia House Market
If you are thinking of purchasing property in Kyrenia, you can have multiple options depending on what you want to purchase. You can have beautiful villas offering views of the sea, small flats with beautiful glimpses of the city, or even land plots to make houses or buildings of your choice.
However, whatever you choose, you must keep in mind that you will have to pay high rents and prices to purchase property in Kyrenia.
- Iskele properties for sale: New Trend Location
Iskele has been a tourist location for years, but people were less attracted towards purchasing properties and living here, but now it is becoming a new trend to live and purchase property here. It is famous for the multiple festival’s tourists can enjoy in the village during the year. Some of these festivals are more attractive to tourists, one of them is held in July and the other in August, representing the regional cultural events.
If you have been thinking of purchasing a property in Iskele you must know some of the most important things attracting buyers to Iskele.
- It is a famous holiday resort also known as Trikomo in Greek. It also has the name of New Iskele, representing the entrance of Turkish people to the Island a few years back.
- The center of this village surrounds a 16th-century church of Saint James, offering a great sacred place for Christians.
- The golden beaches in the village are the most attractive place for anyone who wants to visit or purchase a property here because living near nature is one of the most amazing things you can have.
- Long Beach, which is most attractive to tourists in Cyprus, is found in Iskele. The name suggests that the beach is pretty long, with soft sand and beach bars.
- Though it’s a small place, it has been growing rapidly with many new construction projects to attract property buyers within a few years.
- If you are a fan of animals, you can view the wild monkeys and egg-laying turtles here.
- The cost of living will not be much, making it easier for people to live and make a life of their own.
Iskele’s House Market
Want to purchase houses and flats in Iskele? You can have an opportunity to purchase flats inside hotels and complexes. As it is a new trend location, you can find a lot of property for sale in Iskele, but there will be a huge competition among the house listing platform that will lead you to pay higher prices for even small flats.
Though house listing platforms are having issues related to the North Cyprus property market, buyers are vigilant to purchase property in this area because of the popular and trending locations that give higher opportunities for living an amazingly peaceful and healthy life. There are multiple beautiful villages and cities in North Cyprus, but the two most attractive places for tourists are Kyrenia and Iskele.
Thus because of shortage in development lands and resale houses but an increase in demand, it is estimated that the house prices will continue to increase North Cyprus property market for a longer time.