Does It Make Sense to Buy a House in TRNC?

The Turkish Republic of Northern Cyprus is one of the first destinations that comes to mind for real estate investment in the Mediterranean. The many advantages it offers to investors make buying a home in Northern Cyprus a great opportunity. Those unfamiliar with these advantages are asking, “Is buying a home in the TRNC a good idea?” So, let’s take a look at why buying a home in the TRNC makes sense.

Rising Investment Value

In every country, certain sectors that attract high levels of investment and support growth take center stage. In Northern Cyprus, the two key sectors that stand out are education and tourism. Tourists and students ensure that demand for rental housing remains high throughout the year. This situation creates a rising investment value in the housing market each year for those looking to buy a home in the TRNC.

Buying a Home in the TRNC at the Best Prices

Home prices in Cyprus are quite affordable compared to neighboring countries. Furthermore, with the same amount of money that would buy a single home in similar Mediterranean or European countries, it is possible to purchase two or three homes in the TRNC. Across the country, those looking to purchase a home, particularly in new housing projects, can expect prices starting at £35,000.

For more information on housing prices, visit the Cyprus Home Prices – Average Housing Prices in Cyprus page.

Property Purchase in the TRNC: Amortization Period of 8–12 Years

The real estate amortization period is among the most critical factors for real estate investors to consider. Additionally, real estate return periods across Europe and the world generally range from 20 to 30 years. In Northern Cyprus, however, this period averages between 8 and 12 years. Therefore, buying a home for investment purposes in the TRNC is quite sensible.

Convenience for Foreigners

It is quite possible for citizens of foreign countries to purchase homes in Northern Cyprus. In fact, we can say that the majority of real estate investments in Cyprus are made by foreigners (from the UK, Eastern and Northern Europe, and Russia).

Furthermore, purchasing a home in the TRNC significantly simplifies the process of obtaining permanent residency in the country. This allows you to spend the rest of your life in peace on the Mediterranean’s most beautiful island.

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If you’d like to learn more about the benefits of purchasing a home in the Turkish Republic of Northern Cyprus, you can leave your information using the contact button on this page. Once you’ve provided your contact details, our representatives will reach out to assist you with any questions or concerns you may have.