What is luxury real estate or property?
Luxury real estate means any residential property to build by exceptional lay out design with high-end materials at best location with spacious rooms on large plot of land and mostly valued within the top 5-10% on the local real estate market.
Luxury homes in Northern Cyprus typically knowing as private villas with private pools. Growing number of millionaires and overseas younger high net worth buyers’ luxury real estate market start changing conspicuously to European standards. Luxury properties for sale are generates the 3-5% of the market in North Cyprus. Developers are lack of understanding the need of new trend of luxury definition.
COVID-19 had a huge impact on the decision process for many high-net-worth buyers. Not only local buyers start interesting on luxury properties, but also international investors start migrating to North Cyprus for the weather, taxes, jobs, or a change of lifestyle or remote home base working trend.
The growth of global high net worth wealth, as well as the number of new young wealthy buyers entering the luxury real estate market will be continued to grow on upcoming years.
During the covid 19 lockdown international buyers start discovering the North Cyprus from some popular YouTube influencers.
These buyers are normally from block chain and cryptocurrency market looking to relocate low tax location with offshore investment advantages but close and easy access to Europe, Asia and Africa.
According to these new trend demands living and investing property at North Cyprus ticks all the boxes for these new young high net wealthy investors.
On the other site global inflation, high mortgage rates, and low construction supply constraints are all economic factors to watch for the luxury property market in Northern Cyprus. Developers in Cyprus must keep an eye on what wealthy international buyers will do after global travel restrictions are lifted.
Turkish Republic and Northern Cyprus government is promising to introduce some new laws for Crypto investors to make it safe and easy invest in North Cyprus where it mat impact real estate market.
Overall limited numbers of luxury villas for sale in Northern Cyprus will increase the high-end property prices higher than ever.
What’s the price difference from standard houses and luxury properties in Northern Cyprus?
Unlikely like standard houses where you can calculate the prices per square meter from location to location, there are no any standard measurements to calculate the luxury real estate prices in North Cyprus, Kyrenia.
So many factors must be counted before valuating the price for luxury private villas in North Cyprus. Such as location of the property, size of the land, size of the property, landscape, views and materials, design, and name of the architect that has been used at the property.
Currently, standard houses can be calculated from 1,000 GBP per square meter whereas from luxury properties these numbers can go up to 2.000 GBP per square meter but other factors also must be considered too.
Buying a luxury property with Select Estates International in North Cyprus Kyrenia can only be a simple and stress-free process. It’s our priority to save our clients time and money. Our team has a wealth of understanding that will give you confidence and put you at ease throughout every step of your property buying journey. We are proud ourselves to be the property experts in North Cyprus and trying to improve our local and international knowledge.
We are trying to use more innovative cutting-edge technology to connect our properties with clients faster.
North Cyprus Property is Our Business, Luxury real estates is our Name.