Forbes has listed Northern Cyprus as one of the world’s five best buy locations for those wishing to invest in beachfront property. Situated in the Mediterranean Sea between Turkey and the European mainland, the stunning northern part of the island of Cyprus has a lot to offer those wishing to invest, live or retire to the sun. There is a reason why it is known as one of the world’s most stunning coastlines.
When buying property overseas, it’s always sensible to check that foreigners are able to buy in the location you are looking at; there are no restrictions for foreigners buying a property in North Cyprus. Furthermore, it’s a straightforward process as long as you don’t have a criminal record.
Because real estate in North Cyprus trades in British Currency, it is a particularly easy location for those from Great Britain to understand the value and buy property in Northern Cyprus. Prices are in a currency you recognise and easily relatable.
The cost of living is low, and sea-view apartments with access directly to the beach are available from as little as below £50,000, making buying an incredibly affordable and attractive proposition. There is even what is called “developer funding” for those who don’t have the cash to hand for their purchase.
For those wishing to try it out first or create a base in North Cyprus while searching to buy; renting is easy, straightforward. Nice 2-bed apartments are available for as little as £300 a month, considerably cheaper than renting a home in the UK or EU.
For the best beach on the famously beautiful coastline look at Iskele and Bogaz in the Famagusta District. They are popular with British expats and holidaymakers. Popular attractions at Iskele are the famous annual festival in July and the grape festival in early August.
Bogaz is a traditional fishing village well known for its harbour and many fish restaurants. Bogaz enjoys a laid back vibe, with some of the bars being run by expats you will feel at home. It offers a peaceful location in the winter, with a livelier time during the tourist summer months.
Obviously, situated with such a stunning coastline, the towns and villages around the coast are increasingly popular with overseas visitors, so if it’s all-year-round peace and tranquillity that you want you only have to travel a short distance inland for peaceful locations with stunning scenery and views.
Guzelyurt and Lefke districts have fertile black soil, making them the main agricultural areas of North Cyprus. If you seek lush, green landscapes where you can pick and eat oranges, tangerines and pomegranates off the trees, they are perfect districts for you.
Of course, this is only a snapshot of what is available; one thing is certain though buying properties in North Cyprus is a highly attractive idea for European, Middle Eastern and Russian people.