More and more foreign investors are considering the possibility of buying a new building in Northern Cyprus as a way to increase and profitably invest their own funds. The owner of a new home can also immigrate to Northern Cyprus and live permanently on the coast.
The following options for new buildings in Northern Cyprus are available for buyers to choose from:
- villas;
- apartments of different sizes;
- multi-story houses;
- penthouses and more.
You can buy new housing in different localities of the country, both in the center of the island and on the coast at a bargain price.
The specifics of new buildings in Northern Cyprus
New buildings in Northern Cyprus in the form of apartments are characterized by maximum dividends. When buying real estate of this class, you can find profitable offers from developers through affiliate programs, because investors are very loyal here.
The real estate market is dominated by offers for the sale of an apartment in a new building and two-room apartments. Sellers set the price of new property at about 20% below similar housing in the European market, so these options are profitable for investment. Often you can find and buy real estate at a discount.
Pros and cons of buying real estate from a developer
Due to the rapid development of the real estate market, the standard of living in the country is also growing, which further attracts tourists from all over the world. Consider other advantages of buying a new building for rent:
- Here, winters are warm, and the number of sunny days is approximately 330. Tourists come to rest all year round, so the level of income from rental housing is quite high.
- When buying an apartment in Northern Cyprus from the developer, you can get a residence permit for a period of one year with a subsequent extension.
- Housing is diverse for investment, and next to the houses there are beautiful landscapes.
- More coniferous plants purify and refresh the air.
- It is inexpensive to maintain rental property here compared to European countries.
- Investing in apartments in Northern Cyprus is very profitable.
If you rent out housing in Northern Cyprus, you can earn an income of up to 15% per year, while tax deductions in the country are among the lowest in Europe. That is why the demand for new buildings among foreign citizens and investors on the island is quite high.
