Why buy property in North Cyprus?
The difficult economic conditions ruling the country have caused many people to think of emigrating and leaving the country and continuing to live in another country. Usually, countries that are geographically close to Iran and have good economic and life conditions are more popular. Northern Cyprus is one of the countries located in the Mediterranean region and due to the proximity of the distance as well as some cultural affinities and good working and living conditions, it is the choice of many people to migrate and continue living outside the borders of Iran. One of the sure ways to immigrate to this country is to buy a property in accordance with the laws governing it. But why buying a property in this country can be the best way to obtain citizenship and residency?
Advantages of buying property in North Cyprus
As mentioned above, one of the sure ways to obtain citizenship and residence in North Cyprus is to invest and buy property in this country. Investing in real estate in this country has advantages that allow you to guarantee your economic future. The reasons for the profitability of buying property in this country are as follows.
The possibility of membership in the European Union
Recently, Northern Cyprus is very close to joining the European Union, which makes buying property in Northern Cyprus a great investment opportunity. Currently, all real estate prices in this country are done in British pounds, and pounds can be considered the most common international currency in this country. Considering that the cost of living in this country is low and usually equated to the Turkish lira, that is why buying property in this country is affordable and will have a profitable future.
Easy residence permit
Almost everyone in the world with any type of passport can enter Cyprus easily and without the need to obtain a visa and purchase property and obtain residence there. Anyone with a property in Northern Cyprus can apply for residency, which takes only 21 days. If the person is able to prove his financial ability every year and does not suffer from a contagious disease, this residence will be extended annually. These people can get its citizenship after living in this country for 7 years.
Low cost of living
One of the reasons for recommending buying a property in North Cyprus is the low cost of living compared to South Cyprus. In this country, the Turkish Lira is used for daily expenses, which has a lower value and makes the cost of living in this country much more affordable.
Lower price for buying property in North Cyprus
If you are planning to immigrate to North Cyprus by buying property, be aware that property prices in this country are much cheaper with similar standards compared to other Mediterranean countries and South Cyprus. In this way, people can buy a property with less capital and in this way they can get a residence permit in this country.
Good capital growth
Property prices in Northern Cyprus experience an average annual increase of 10% over the previous year, and considering that property prices in this country are done in British pounds, this 10% growth is even more valuable. The best strategy for buying a property in North Cyprus is to buy a property in the zero construction stage because the developer pre-sells it at a price below the market price. These types of properties experience a 30% growth from the start of construction to the final realization of the project.
Affordable rental property
Renting property in North Cyprus is considered one of the most profitable jobs, so that renting a property during holidays and even during normal days of the year can bring about 10% return for the owner. According to the obtained statistics, the maximum profit obtained from the short-term rental of the property in this country with a proper management can provide the conditions for the owner to earn 15% of the value of his property during the year
The expansion of tourism in Northern Cyprus
Another reason to recommend buying property in North Cyprus is the significant increase and development of the tourism industry in this country. According to the statistics announced by the government of this country, the number of tourists from different regions of the world to this country is increasing, so that 25% from European regions, 15% from North America, 50% from Scandinavia and about 18% from China. A higher percentage of tourists have traveled to this country.
People who intend to emigrate from the country and live in other countries should choose a country as their final destination that provides them with better economic conditions and living costs. Northern Cyprus is one of the countries in the Mediterranean basin, which can provide better economic conditions for people with its rich culture and almost similar to Iran and easy living conditions such as low costs, income and high salaries. Buying a property in Northern Cyprus is one of the best ways to immigrate and obtain residency in this country, which is considered a good and safe investment due to the low cost of living, low property prices compared to other countries, good capital growth, tourism development in this country, etc. It can guarantee the economic future of a family well.
