Market Trends: Forecasting the Future of Real Estate in Northern Cyprus

They say it's hard to predict the future, but there are certainly circumstances in which expectations of growth are more than safe. For instance, both betters and non-betters have high hopes for the continued expansion of Northern Cyprus - a vibrant coastal region that is currently seeing unprecedented economic growth.

Tourism is driving this trend by drawing foreign investors to visit and in many cases choose to stay long-term. Look no further than the real estate market for tangible proof of the effect. Northern Cyprus property values are on the rise as more and more people learn about what is surely one of the Mediterranean's best-kept secrets.

In this article, we discuss current conditions, the reasons behind recent growth, and look forward to Cyprus' real estate market forecast for the coming years.

A Look at Current Northern Cyprus Property Trends

Data published by Antalya Homes shows that both average rent prices and average home prices have risen steadily over the past three years at respective rates of 67.61% and 61.87%. Meanwhile, once-popular vacation home destinations like the United Kingdom and Belgium are seeing values stagnate and even decline. It makes sense when you consider the many factors that are drawing people to this unique island nation.

Why Cyprus Is Such a Popular Place for Real Estate Investment

It's hard to pinpoint a better geographical location for an investment property than Cyprus. The small island nation is only a few thousand square miles in size, but not a single portion of it goes to waste. Every inch of Cyprus enjoys year-round warmth and sunshine akin to 300 days of summer. Natural landscapes are well complemented by modern infrastructure, including an extensive network of roads and highways.

The northern half of the country comprises several historic cities and landmarks, including the capital city of Nicosia and the ancient port city of Famagusta. This is all set in front of a gorgeous natural backdrop, characterized by the beautiful Mediterranean Sea and stunning mountain ranges. Northern Cyprus is also potentially preferable to potential property buyers for its less crowded and relatively unspoiled beaches.

The Economic Benefits of Investing In North Cyprus Real Estate

Cyprus' strategic location in between Europe, Asia, and Africa has cemented its position as a major regional hub for trade and commerce. The northern part of the island is under Turkish control, while the southern half is a member of the European Union. This unique nexus of cultures and economies makes for an abundance of exciting business and investment opportunities.

Property in North Cyprus is especially attractive for foreign investors, as the country offers a very favorable tax regime. There are no restrictions on foreign ownership of real estate, and rental income is collected as GBP (sterling).

The right choice of home or villa has the potential to pay long-term dividends in income from Airbnb rental or eventual resale to other foreign investors.

What Does the Future of Real Estate Look Like In Northern Cyprus?

Again, it's hard to predict the future with 100% accuracy. But by all metrics, we can safely say that the long-term outlook for Northern Cyprus' real estate market is promising.

A large docket of new projects in Northern Cyprus leads analysts to believe that its local real estate market will maintain its current values over the coming years, if not grow. New options are slowly trickling in to offer prospective buyers more choice as they search for their next dream home. Yet at the same time, the pace of development isn't fast enough to risk tipping the balance of supply and demand.

Seize the Future of Real Estate In Cyprus with MEDITERRA

MEDITERRA is one such example of a promising, up-and-coming project on Cyprus' north coast. Slated for completion by the end of 2025, its official opening will add a diverse yet intimate share of villas and homes to Kyrenia's local real estate market.

Kibris Developments approached the construction of this community with craftsmanship in mind. Interested investors' long wait will be rewarded with genuine quality and superior standards. This is not just about profits, but also about creating a comfortable living space that residents will be proud to call home.

MEDITERRA embodies the very best of Cyprus' natural landscape, blending in with the surrounding areas and offering stunning views of the coastline. It's also within walking distance to a variety of practical amenities such as supermarkets, pharmacies, and restaurants.

North Cyprus' real estate market forecast already looked great, and with the addition of MEDITERRA, it's only getting better. This project is not just bringing new homes to the market, but also adding significant value and potential for growth in the area. Seize your opportunity to be a part of this rising market and invest in MEDITERRA today.