Which Are the Best Investment Properties in North Cyprus?

If you’ve spent any time on the internet looking at properties for sale in Northern Cyprus you’ll already know that the volume of developments currently under construction is quite impressive and that the sheer choice of property is exciting.

But with too much choice comes too much confusion (in my experience anyway!) so which are the best investment properties in North Cyprus? Ask any developer and he’ll say HIS are the best – unsurprisingly – but in all seriousness how on earth are you supposed to choose? Well, here’s a short guide to the types of property and the locations most suitable for those looking for investment.

Those looking for residential investment property in TRNC usually have the following objectives: -

1) to buy in a country where there is or will be a buoyant property market

2) to buy in a location where there is demand for property to buy which will naturally push up prices over time

3) to buy properties that are in demand from renters – whether tourists in search of a holiday let, students in need of accommodation, or long term renters who want a home to let – and where strong demand will allow for rental increases thus improving rental yield over time

Well, if you buy the right property in the right location in Northern Cyprus you can fulfil all of these objectives.

The first thing to do is to identify your particular requirements from the property – are you wanting a property that you can rent out all year round and remain strictly hands off from? Are you after a holiday home that you and family can use for a few years before selling it to realise the capital appreciation? Or do you want to buy off plan at a low price, wait for the construction period to be over before reselling to take any short term gains you have accrued for example?

Depending on your answers to these questions different property types will meet your needs and answer the question ‘which are the best investment properties in North Cyprus?’

A) Those who wish to buy an investment property in Northern Cyprus to rent out to the holiday market should be looking at apartments in the Bogaz or Esentepe region or small villas in and around Lapta.

B) Those who wish to buy to let long term should be looking at apartments in Kyrenia (Girne) or villas close to Kyrenia.

C) Those who wish to buy preconstruction and flip should be looking at apartments in Bogaz and Esentepe or right in the centre of Kyrenia.

D) And those who would like to buy themselves a home in the sun that will go up in value should be looking around Kyrenia in the likes of Ozankoy and Bellapais.

Oh – what bold and lofty statements!

Well - let me back up my theories for you…

A) Bogaz and Esentepe have both been earmarked by the government and developers as the areas for the main holiday market in Northern Cyprus. The amount of money that is being poured into facilities, amenities and infrastructure in these areas alone outstrips the rest of the island! And the types of properties being developed in these areas appeal to the holiday market – well appointed apartments, small manageable villas, serviced apartments, villas with communal pools and facilities etc. These are the types of property holiday makers want in the locations they will want to be in – areas where the best beaches are accessible, areas where golf courses and marinas are being constructed, areas away from the working towns on Northern Cyprus and both areas that are becoming increasingly accessible from the airport. The other alternative for those who want to buy into an already established tourism area is Lapta which has long been associated with holidays in Northern Cyprus.

B) The long term let market in Northern Cyprus is dominated by students at the country’s universities and who require apartment accommodation in and around Kyrenia, and expatriates waiting for their brand new properties to be constructed and who require both furnished and unfurnished villa homes close to the main town of Kyrenia.

C) The most in demand properties for sale in TRNC are apartments in Kyrenia – they are often converted into offices for those who require a presence in the town – and holiday properties in and around Bogaz and Esentepe. Therefore anyone who wishes to purchase and sell on in a short space of time should be looking to buy in the areas where demand is greatest otherwise the investment exit strategy comes undone and an investor is left with a property that will take a long time to sell.

D) Those who would like to live in North Cyprus for a prolonged period of time usually want to live in a community where they can make friends, enjoy social occasions and have access to the boring but necessary every day things like banks, garages, DIY shops and the like. The areas most popular with local and expatriate residents alike are close to Kyrenia such as the villages of Ozankoy and Bellapais.

So, in answer to the question ‘which are the best investment properties in Northern Cyprus’ you and you alone have to decide on your investment objectives and then hunt for the best property that matches those objectives.

To further assist you click here for specific examples of investment property in North Cyprus – as you can see the range of real estate available in each location is broad and many properties come with guaranteed rental yields, payment plans and some even have mortgages available with low deposits which makes the entire market more accessible for more people.