In recent years, Cyprus, has not only attracted attention by its calm natural environment and beautiful beaches, but has also attracted the interest of real estate investors from abroad. Due to changes in the law and the implementation of large real estate projects, investments in Cyprus have gained momentum.
The fact that property prices are low in the TRNC, compared to other European and Mediterranean Regions, offers a great opportunity for foreign investors.
The tourism sector has grown significantly with investments in airports and hotels in Northern Cyprus, hosting approximately 1.5 million tourists each year. This has had a positive effect on the demand for real estate.
In addition to the tourism sector, the education sector has grown rapidly in Northern Cyprus. The fact that the universities host approximately 150,000 students, providing employment to many people in the education sector, has increased the demand and interest in the real estate sector.
The real estate market in Northern Cyprus, has attracted the attention of Europeans as well as Turkish citizens during the recent years. The main reason being the very affordable prices as compared to high rents.
When the Cyprus problem is resolved, Northern Cyprus will be officially joining the European Union. The fact that the house prices in Southern Cyprus are four times higher when compared to those in Northern Cyprus is another important factor attracting the real estate investors.