by Cenap Turgut
Northern cyprus real estate investment vs TURKEY real estate investment and why
Both Northern Cyprus and Turkey offer attractive opportunities for real estate investment, but there are some key differences between the two that should be taken into account when considering an investment.
Northern Cyprus real estate investment:
- Lower property prices: Real estate prices in Northern Cyprus are generally lower compared to those in Turkey, making it a more affordable option for investors.
- Limited international recognition: Northern Cyprus is not internationally recognized as a separate state, which can limit options for international buyers in terms of financing and legal protection.
- Limited infrastructure: The infrastructure in Northern Cyprus is not as well-developed as in Turkey, which can limit access to some services and amenities.
- Access to untouched natural beauty: Northern Cyprus has a lot of untouched natural beauty, including pristine beaches, forests, and mountains, which can be attractive for those looking for a more authentic and natural experience.
Turkey real estate investment:
- Higher property prices: Real estate prices in Turkey are generally higher compared to those in Northern Cyprus, but this can also mean potentially higher returns on investment.
- Strong economic growth: Turkey’s economy has been growing steadily in recent years, which can translate into potential growth in the real estate market.
- Robust infrastructure: Turkey has a well-developed infrastructure, including modern airports, seaports, and highways, which can provide easy access to amenities and services.
- Larger market: Turkey has a larger real estate market compared to Northern Cyprus, which can provide more options for investors.
In conclusion, both Northern Cyprus and Turkey offer potential benefits and drawbacks for real estate investment. Northern Cyprus may offer lower prices and access to natural beauty, but comes with limited international recognition and infrastructure. Turkey may offer higher prices and a stronger economy, but comes with a larger market and more developed infrastructure. Ultimately, it is important to carefully consider all factors and consult with a reputable real estate agent or lawyer before making any investment decisions.
There are several reasons why expats choose to invest in North Cyprus:
- Affordability: Real estate prices in North Cyprus are generally lower compared to other Mediterranean destinations, making it a more affordable option for expats.
- Tax incentives: North Cyprus offers tax incentives for foreign investors, including no property tax for the first 5 years of ownership and no capital gains tax for properties purchased before 2020.
- Quality of life: North Cyprus offers a high quality of life with a relaxed and laid-back lifestyle, beautiful beaches, and a warm climate.
- Political stability: Despite being a politically sensitive region, North Cyprus is considered to be a safe and stable place to live and invest.
- English-speaking community: The English language is widely spoken in North Cyprus, which can make it easier for expats to adapt and integrate into the local community.
- Potential for high rental income: Due to the growing tourism industry in North Cyprus, there is a high demand for rental properties, which can provide a potential source of income for expat investors.
- Untouched natural beauty: North Cyprus has a lot of untouched natural beauty, including pristine beaches, forests, and mountains, which can be attractive for those looking for a more authentic and natural experience.
In summary, expats choose to invest in North Cyprus due to the affordability of real estate, tax incentives, quality of life, political stability, English-speaking community, potential for high rental income, and access to natural beauty.
