How much do we know about Northern Cyprus and its advantages when choosing as a real estate investment, or relocation for living? In the Mediterranean sea is the birthplace of the beautiful goddess Aphrodite. Today, the island of Cyprus is in the list of the most favorite resorts of Russian citizens. However, our compatriots in the current year 2020 are going to the island not only for recreation, but also to do business, make various purchases such as real estate on the island, in other words, housing. So, over the past few years, many CIS citizens have decided to buy a lot of apartments or other housing in Cyprus. Here real estate is not as expensive as Spanish, Italian, French or any other in Europe. But, recently, due to such a high demand, there has been an increase in the cost of objects on the real estate market.
Experts estimate that the average price in 2021 will increase by 5-10%. Many investors invest in Cyprus real estate precisely for the purpose of reselling housing in the future. Given such an annual increase in the cost of real estate in Cyprus, you can make good money on the resale of housing.
In addition, Northern Cyprus is a tourist destination, and many people purchase housing in order to rent it out for the entire summer period. As you know, summer on the island lasts about six months, so buying an apartment, house or villa in Cyprus brings considerable income to its owners. For example, a Studio - studio apartment, will earn the owner for a year an average of 10% of the original cost of housing.