Europeans have long been investing in real estate in North Cyprus. It began from the time of the colonization of Cyprus by Great Britain in the 1890s.
The influence of British culture is also evident today: left-hand traffic, English is the official language, as is Turkish (in Northern Cyprus). Charm influence of the great British culture is catchy in everything. This and the local Anglican Church and the legacy of charming colonial architecture.
And let the British pounds sterling, unofficially, but still the main unit of account of the real estate business. Yes, and pay unts can be in any store and restaurant.
Of course, the division of Cyprus in 1974 (the reasons for this are contradictory, and each of the parties to the confrontation has its own position) of the development of the real estate market has undergone a decline.
However, nowadays, after the official decision of the European Court of Justice in 2010 on recognizing the activities of the Real Estate Commission, which made compensation payments to the Greeks who left the northern part of the island, huge investment flows again flowed from the European Union and side of Turkey.
These events completely changed the image of the Turkish Republic of Northern Cyprus as a territory of instability, the "gray zone". Today, Northern Cyprus is one of the most dynamic developing republics in terms of increasing real estate sales.
The presence of foreign multimillion-dollar investments raised the rating of investors' confidence in the reliability of investments.
The expected capitalization of real estate in North Cyprus is 10-15% per year. This means that a purchased apartment or villa, especially in the coastal zone, will give the investor the opportunity to earn money on rent, receiving a monthly guaranteed income, and make a considerable profit in the event of resale of the acquired property after several years.
And the main factor in this business is that with all the profitability, liquidity and increase in the value of the property itself, now it is also a low base value of the property itself.
Here we offer our customers real prices, without embellished and hidden payments, guaranteed income with a rate much higher than other companies offer.
Due to the fact that large global banking institutions were not involved in the process of lending to developers who are building new real estate, there is almost no recession in North Cyprus, but on the contrary, there is a steady increase in macroeconomics.
This is quite a rare phenomenon for the European space as a whole.
In addition, after the recent crisis of the financial systems of Greece and South Cyprus, investors, who had previously considered South Cyprus more attractive, reoriented and began to massively invest in North Cyprus real estate. After all, Northern Cyprus does not fall into the so-called "Eurozone", and life in the North of the island is much cheaper as well as the real estate itself.
Now Northern Cyprus is a territory beyond possibilities, a dynamically developing republic with a stable macroeconomy, a functional legal system and a pleasant climate.
The UN and the European Union are stimulating the possible unification of the two parts of Cyprus. And this stirs the interest of investors, because whatever the configuration of a possible merger could be, there will be a definite sharp jump in the growth of real estate value.
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