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Steep rise in land sales to foreigners

Steep rise in land sales to foreigners

January 26
13:55 2016

The amount of immovable property sold to foreigners in North Cyprus has increased in the last 16 years, the Ministry of Interior says.

In the years between 2000-2015, around 20,000 Turkish and foreign citizens applied to buy property in the North and property was sold to 17,000 foreigners.

According to Kibris Gazetesi, there was significant rise in property sales to foreigners particularly after 2003-2004. In the period 1974-2002 only 1,859 foreigners applied to buy property in the TRNC, while the applications between 2003 and October 2015 rose to 16,453.

The paper writes that the total number of foreign buyers is 16,927 and adds that they prefer to buy apartments, building plots and fields.

Kibris Gazetesi

 

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