Turkish Republic of Northern Cyprus (TRNC) is the new Mediterranean property hotspot! With buyers from the UK, East and West Europe, Scandinavia and the Middle East increasingly lining up to buy a North Cyprus villa or apartment.
North Cyprus is gradually becoming one of the most popular areas of investing in real estate. Especially attractive Northern Cyprus is to residents of those countries, whose national currencies in recent years became weaker. In connection with the currency crisis has appeared an urgent need to save the remaining part of the capital, to protect assets from future risks.
This article explores the top reasons for this – so read on for news about how YOU can benefit from a secure, low-cost yet fast-rising North Cyprus property investment in this unique non-Euro-zone economic area with an international population of residents from all over the world.
Northern Cyprus is a non Eurozone area.
The non Euro-zone status of Northern Cyprus, previously seen as a DIS-incentive to many, has recently become a huge bonus and sales point for overseas property buyers. All North Cyprus property prices are linked to the stable pound sterling which is the de facto international currency in the TRNC, where shops and restaurants also widely accept the pound as well as the Turkish Lira. By contrast, many other Mediterranean property destinations (such as Spain, Greece or South Cyprus) are all priced in euros which have fallen in value recently. In addition, the unstable nature of the Greek banking system which obviously affects both Greece and southern Cyprus is putting investors off from investing generally in those countries. In North Cyprus, investors and lifestyle property buyers have “the best of both worlds” – getting their property value fixed to a stable currency whilst also gaining a low cost of living (due to favourable exchange rates against the Turkish Lira), which makes eating out, shopping or furnishing a new North Cyprus property extremely affordable.