Northern Cyprus is becoming an increasingly popular destination for vacation homes, attracting buyers from around the world. In recent years, the property market here has seen significant growth, offering a diverse range of affordable options and a welcoming local culture.
As the market has evolved, more investors from Russia, Ukraine, Scandinavia, Germany, Austria, the Middle East, and mainland Turkey are choosing Northern Cyprus for their property investments.
Why is the Property Market Thriving in Northern Cyprus?
Northern Cyprus is not just for retirees anymore. Increasingly, younger families are making it their primary residence due to the availability of English-speaking schools and universities offering English courses.
The standard of newly built properties such as villas and apartment residences has significantly improved over the past decade. Many new developments now offer five-star amenities, such as wellness and spa facilities, and options for apartment-hotels. This upgrade caters to a broad range of budgets and investor types, from high-end to more economical choices.
Despite fluctuations in the Turkish Lira, property prices in Northern Cyprus are listed in British pounds, a legacy of Cyprus’s colonial history. This pricing stability is advantageous for investors. There has been notable capital growth in Northern Cyprus property over recent years, particularly in the resale market.
This trend is expected to continue, offering strong rental yields for holiday lets. Northern Cyprus is well-connected via Ercan International Airport (with flights through Turkish Airlines, Pegasus, and Anadolu Jet) and Larnaca and Paphos Airports (which offer a range of international flights). This accessibility makes Northern Cyprus an ideal location for buyers from the EU, UK, Middle East, and beyond.
Northern Cyprus has seen the construction of several new modern facilities, including:
- Korineum Golf Club: An 18-hole golf course and spa.
Karpaz Gate Marina: A state-of-the-art marina.
Ercan International Airport: A newly upgraded airport offering improved access.
Luxury Hotels: Such as Elexus and Cratos Hotels.
New Infrastructure: Roads providing better connectivity to Karpaz and other tourist destinations.
Finding the Right Property
Northern Cyprus offers a wide range of property types, including commercial opportunities, buy-to-let investments, residential homes, holiday villas, townhouses, and apartments. Senilk Real Estate is here to assist you in finding the perfect match for your needs.
We offer a detailed guide to understand your expectations regarding rental income, capital growth, area, size, and type of property. Based on your responses, we provide tailored recommendations. Some of our best deals are not advertised online but only provided face-to-face or when you request the service specifically.
We specialize in finding and developing “off-market” properties that may be ideal for your needs. At Senilk Real Estate, we understand that purchasing a property can be a lengthy process. Our goal is to ensure you feel comfortable and informed every step of the way.
Senilk Real Estate has many years of experience assisting international buyers, ensuring a safe and professional property acquisition process. Whether you’re seeking a new home or an investment opportunity, we’re here to guide you every step of the way. Explore the possibilities with us and discover why Northern Cyprus is an exceptional choice for your next property investment.