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North Cyprus Preferred by Property Buyers

North Cyprus Preferred by Property Buyers

June 06
10:48 2018

Foreign investors prefer North Cyprus for buying houses abroad. With the exception of Turkey, citizens of Russia, Britain, Ukraine and Iran form the main group of foreigners who purchase property in North Cyprus.

Between 2015 -17, 18,391 houses, 473 commercial buildings and 11,276 plots of land were purchased by foreigners in the TRNC.

The Russians mainly prefer Famagusta and Yeni Iskele areas. During that time period, Russian citizens purchased 35 houses in Famagusta and 112 in Yeni Iskele. Meanwhile, British citizens prefer to buy property in Kyrenia and Famagusta. They bought 758 houses in Kyrenia, 160 in Famagusta and 40 in Yeni Iskele. British citizens also bought 14 plots of land and one workplace. Iranian citizens purchased 120 houses in the same period and Ukrainian citizens – 70.

However, foreigners have shown no interest in the Guzelyurt region, where only seven houses and five plots of land were sold to TRNC citizens in the same time span.

Havadis