North Cyprus News | Online News for North Cyprus

Residents in the Gulf want 2nd homes in TRNC

Residents in the Gulf want 2nd homes in TRNC

April 30
16:08 2013

As previously reported, there has been an increase in inquiries regarding property purchasing in North Cyprus.

Despite negative perceptions about property ownership in the TRNC, there has been an increase in the number of Middle East investors acquiring property in the country.

Interested buyers based in the Gulf, including Omanis, Qataris and expat oil workers in Dubai, have flooded estate agencies with queries about property they can use either as a secondary home, retirement or holiday retreat. Many of them are Arab lifestyle clients seeking a cooler place for the summer and European ex pats looking for a place to retire to or holiday in.

With investor interest from the Middle East rising, at least one property firm reported a 350% increase in sales during the last quarter.

Real estate experts in the TRNC have brushed aside claims that the region is not safe for foreign investors due to land disputes as a result of the division of the island.

 

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