Owners of properties in Northern Cyprus will always be on a profit. After all, having a flat, villa or cottage by the sea in this sunny, warm and economically stable country - not only pleasant, but also financially profitable. Firstly, foreign owners of holiday homes had an excellent opportunity to relax in the Mediterranean whenever they want. Secondly, they reduce annual costs on living while on holiday in the country. And thirdly, foreign owners of property in Cyprus, if desired, can quite easy to obtain a residence permit.
A private house, apartment or villa in Northern Cyprus can become not only your summer residence abroad or a primary residence, but it can be the first step in establishing a successful business, for example, tourism or lease. At the same time, in order to receive rental income, you do not even need to have your own company. Foreign owners are free to rent their realty in Northern Cyprus - both in the long term and in the short-term, during their absence from the country.
Buying real estate in Northern Cyprus can be both from the owner and from the builder. Moreover, foreigners have the right not only to acquire the property placed in service, but also to take part in a joint construction. And as we know, buying property from the builder at the stage of excavation costs the most advantageous, as it allows the future owner of modern, new, high quality and legally clean house in Northern Cyprus to save on the difference between commercial values.
Many foreign buyers of realty in Northern Cyprus opt for this country because of the favorable mild climate, large number of sunny days per year and very friendly attitude towards foreigners. The market of this paradise island, namely its northern, Turkish part is very attractive, because buying a home here for foreigners – a very simple, fast and transparent procedure. In addition, each property owner can apply for a residence permit for investments in the economy of only three hundred and fifty thousand Euros!
