North Cyprus Investment Information

Why Northern Cyprus?
 
Put simply, property prices are significantly cheaper in Northern Cyprus, compared to anywhere else around the Mediterranean. Not only is the property in Northern Cyprus good value for money, but it is a sound investment too. The area is currently experiencing a property boom with growth potential over the next decade set to offer an excellent return on investment.

● Worldwide diplomatic sanctions are set to be lifted and trade and travel embargoes removed. After more than 30 years of isolation Northern Cyprus is a blank canvas, which will allow astute investors the chance to make their mark and secure big returns on their investments. 
 

● Dramatic increase in tourism over the last 2 years shown in current investment: seven new luxury hotels, three $100 million plus resorts on the island, a new upscale yacht marina and the first golf course in Northern Cyprus. Future forecasts project the real growth explosion is yet to come. 
 

● The UN estimates there will be a 65,000 unit shortage by 2010 based on the current rate of housing construction. 

● Current land prices in Northern Cyprus are approximately 25% of those in the south of the island and resale villa prices approximately 30 - 40%. 
 


● The EU has pledged 259 million Euros in aid for Northern Cyprus, to fund improving the country’s infrastructure, enabling greater foreign investment, and preparing the country for the forecast growth in tourism. 
 

● The international community has softened its' stance towards Northern Cyprus following the Turkish Cypriot acceptance of the UN brokered reunification referendum rejected by the Greek Cypriots in 2004. The US Secretary of State, Condoleezza Rice and the British Foreign Secretary, Jack Straw have since met with the Northern Cypriot President Talat, which has had immense political significance in Cyprus and internationally. 
 
● Uses the same legal system, currency and language as the UK.
 
● A new airport (Ercan) opened in May 2004. Once the travel embargo is lifted the new airport will enable planes to fly directly to North Cyprus for the first time since 1974. This will conservatively lift the annual tourist numbers from 433,000 to 2 million people annually over the next five years, which is still far below the 2.3 million people who visit Southern Cyprus each year.
 

● According to UN estimates, Northern Cyprus needs to build a further 30,000 villas within the next three years. The current rate is 500-1000 per year, showing a large opportunity to meet demand.
 
● A superb Mediterranean climate, averaging 340 days sunshine a year.
 
● Sensible and forward-looking planning strategy at governmental level including policies of banning planning permission on any development over two storey’s high or within 100 meters’ of the beach.