Why are Russians eager to buy real estate in Northern Cyprus?

The real estate market under pressure: consequences of sanctions measures

The imposed sanctions on Russia and Belarus have left many realtors working with Russian-speaking clients in a state of confusion. Particular concern has arisen among those professionals who actively interact with clients from the Russian Federation. One of the unpleasant surprises was the decision of global payment systems like Visa and Mastercard to cease their presence in the Russian market. The closure of access to the international SWIFT system for a significant number of Russian banks has been an additional blow to the financial operations sector.

Nevertheless, the circumstances under which Russian citizens seek to acquire real estate in Northern Cyprus differ from the current situation in European Union countries. NorthernCyprus continues to be an attractive option for investors due to its close ties with Turkey, which ensures the availability of real estate for Russian-speaking buyers despite the sanctions.

The situation in the Russian real estate market

Arkadiy Osipyan, a leading sales specialist at Leverage Investments, described the situation in February as one filled with anxiety and disappointment. Realtors felt that the market had become closed off to Russians. Against the backdrop of several banks being disconnected from international payment systems and the threat of the ruble's devaluation, buyers were concerned about the possibility of conducting international transactions. Indeed, some clients faced difficulties in carrying out operations, as many had their savings in rubles, which were rapidly losing value, while others were unable to access their foreign currency accounts at all.

The situation changed dramatically just two weeks later. The ruble began to recover, and the ability to make payments reemerged. Moreover, it turned out that not all credit institutions had been disconnected from SWIFT. Clients of banks such as Rosbank, Tinkoff, and Raiffeisen continued to carry out international transactions. Although some processes became longer, and the time for processing payments increased, in the end...The money still reached the recipients.that allowed to close deals.

Simplifying the real estate purchasing process

Svetlana Timashova, the owner of Red Feniks North Cyprus, noted that the process of acquiring real estate is becoming clearer and less burdensome for Russian citizens.The lawyer is drafting a preliminary contract.and issues an invoice that details all necessary information, including the purpose of the payment and the citizenship of the current owner. If the owner is a citizen of a country considered unfriendly, such transactions may be rejected. However, transactions between Russians and representatives of friendly countries proceed without any bureaucratic complications.

A new stage in the restored market and the opening of opportunities

A key aspect of real estate transactions in Northern Cyprus has become operations with cryptocurrencies. Ekaterina Gannenko, head of the sales department at Caria Estates, emphasizes the growing interest in such deals. In NorthernCyprus, the use of cryptocurrency has become completely legal, allowing buyers to easily conduct transactions with digital assets. The island has numerous exchange points where cryptocurrency can be converted into cash. With the help of digital currencies, buyers can not only purchase real estate but also:

• To purchase everyday goods.
• Buy cars.
• Purchase clothing and jewelry.

Thus, despite the challenges arising from sanctions and changes in the banking system, the real estate market in Northern Cyprus remains open to Russian-speaking clients. It offers alternative methods for making purchases and investments, maintaining accessibility for interested parties.

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Growing interest in real estate in Northern Cyprus

There is currently a noticeable increase in interest in the real estate market, especially after Northern Cyprus became one of the few countries where residents of Russia and Belarus can purchase property. Due to the imposition of economic sanctions, this direction has attracted many buyers, leading to a sharp rise in the number of transactions in the market.

Expert opinions

Arkady Osipyan, Sales Director at Leverage Investments, commented that there has been a real boom in sales over the last three months. Our company is targeting Russian-speaking clients, and now we are selling three times more real estate than before the pandemic, when sales volumes dropped significantly. This is also due to the fact that all the coronavirus restrictions have been completely lifted.

However, it should be emphasized that it is not only Russians who are interested in Northern Cyprus. European and US citizens have been actively investing in apartments and houses on this island since the beginning of 2022. This is due to the low taxation and the special status of this region, which offers some advantages.

New construction and its attractiveness

New residential construction in the Long Beach area near Iskele is also attracting buyers. Ekaterina Gannenko, head of sales at Caria Estates, noted that Northern Cyprus does not exchange information on transactions with other countries. This encourages clients to transfer their funds from other regions and invest in local real estate.

Investors are confident that these investments will bring profits from both subsequent resale and regular rental income. We have seen activity from European clients in the market since the beginning of 2022. The main reason for this growth was the appearance of an article in Forbes, in which Northern Cyprus was noted as one of the best vacation destinations in the world.

Interest of foreign buyers

Thus, in the real estate market of Northern Cyprus, the interests crossed: investment aspirations of Western European buyers and the opportunity to conclude transactions for clients from Eastern Europe. The motives of foreign buyers are varied:

• Many people have become actively interested in investing and looking for ways to preserve their capital in the face of economic instability.
• Others are considering permanent residence in Northern Cyprus, as here you can get a residence permit, investing in real estate of any value.

High interest from Russians

Svetlana Timashova, owner of Red Feniks North Cyprus, emphasizes that there is currently a high interest from Russians in buying real estate in North Cyprus. This is a truly unique opportunity, and demand continues to grow rapidly. Buying a home here becomes not only an investment, but also an opportunity for a comfortable life in a picturesque place.

Market prospects

Increasing interest from buyers has led to an increase in supply in the market, making investment in North Cyprusreal estate increasingly attractive.

Growing interest in life in North Cyprus

Today, there is an increasing number of people who decide not only to commission a property in North Cyprus for a summer vacation, but also seek to obtain a residence permit for permanent residence on this magnificent island. A lot of such families prefer private English educational institutions, known for their high level of student training. Graduates from these schools have an excellent chance of gaining admission to prestigious universities around the world.

Diversity of customers

Among the citizens who choose to live in Northern Cyprus, you can find not only Russians, but also residents of Ukraine, Belarus and Kazakhstan. According to experts, previously about 70% of buyers sought to buyreal estate for investment purposes, while the remaining 30% considered apartments and houses for their own residence. Recently, however, these figures have changed dramatically, and the interest of buyers in these two categories is almost equal. In addition to this, there have also been changes in the typical characteristics of buyers.

Trends in the real estate market

Arkady Osipyan, a real estate expert, shares his observations that among new buyers there are no longer pensioners who were looking for a secluded place to relax by the sea in a picturesque climate. In recent years, there has been increasing interest from young families, for whom access to quality private schools has become a critical need. Many of these families choose to work remotely or run their own businesses, and some come to the island in search of new career opportunities.

Rising housing prices

The growth of housing prices continues. The hopes of some buyers that the global economic fluctuations would lead to lower prices, as practice has shown, have not come true. Neither during the pandemic nor now is there a drop in prices. Against the background of inflationary pressure and other factors, the cost per square meter is increasing, and with the increase in demand we can expect even more accelerated price growth.

Real estate prices

If we turn to the figures, 3-4 years ago a good studio in a complex under construction cost about 35-40 thousand euros, while now such proposals already exceed 50 thousand euros. This can be considered the minimum amount for the purchase of housing in Northern Cyprus. Two-bedroom apartments today start from 75 thousand euros. It should be taken into account that for this amount you are likely to get only“empty box”This involves additional costs for furniture, appliances and other furnishings. It is also important to keep in mind the taxes and other costs associated with buying a property in depth.

Difficulties in finding quality housing

Unfortunately, finding affordable and quality accommodation in North Cyprus is becoming increasingly difficult. The high demand is depleting the market of available options. Svetlana Timashova, owner of Red Feniks North Cyprus, emphasizes that the greatest interest is in apartments costing up to 100 thousand euros. Especially in demand are those that are bought in installments from developers, as well as more economical houses. Nevertheless, in today's conditions, the price of residential real estate is only increasing, and almost all available offers are already sold out by now.

Affordable housing options in Northern Cyprus

Affordable housing options in Northern Cyprus, starting from €100,000, are increasingly attracting the attention of many buyers. For example, a stylish bungalow in Iskele has an area of 46 m², and its purchase can be made through an online viewing, making the process so simple and convenient. This place also offers the opportunity to make deals and payments in rubles, which is undoubtedly beneficial for Russians.

Nature and relaxation in Northern Cyprus

Northern Cyprus, often referred to as the pearl of the Mediterranean, delights its residents with incredibly clear waters and picturesque beaches. Perhaps one of the most beautiful places on the island is Dipkarpaz, located in the northeast. This corner of nature seems to be made for a peaceful and relaxing getaway, with its golden beaches, well-maintained parks, and unique ecosystem, all of which together make this region ideal for permanent living.

Real estate offers

• Villa in Esentepe:The price is 119,000 euros, with an area of 58 m², two bedrooms, and two bathrooms. It's a charming place on the hillside with magnificent views of the sea and mountains, just a few minutes from the beach. The complex features a communal pool, restaurant, and spa, and there is a golf course nearby.
• Villa in Kyrenia:The price is 136,159 euros, with a total area of 40 m². There is an opportunity to obtain a residence permit. The complex is located in the picturesque village of Karaagach, featuring secluded landscapes and beautiful bays. On the roof, there is a spacious terrace with stunning views and the possibility of creating a small garden.
• Farm in Iskele:The price is 154,000 euros, with a total area of 629 m². It includes a plot of land for residential development. The region is known for its unique climate, where the sun shines for almost 300 days a year.
• Villa in Famagusta:Price: 159,838 euros, area: 95 m², three bedrooms and two bathrooms. The complex is located in a quiet area with a modern interior and necessary amenities, including security and a supermarket.
• The second villa in Kyrenia:The price is 164,574 euros for three bedrooms and two bathrooms in an area of 50 m². This is a new project for those who want to combine comfortable living conditions with nature, without sacrificing modern amenities and luxury.

Conclusion

Northern Cyprus offers a variety of options for anyone looking for their perfect home in a picturesque setting. These real estate options will allow you to enjoy high living standards in this amazing corner of the world.

Cozy chalets and their features

Cozy chalets are designed with an emphasis on harmony between aesthetics and functionality. Spacious roofs with terraces offer the opportunity to enjoy breathtaking views of the surrounding nature. A small private garden will be a wonderful addition to your relaxation.

Investment opportunities in Cyprus

If you are planning to invest, take a look at the villa in Famagusta, Cyprus, priced at171,843 euros. The total area of this facility is166 m²and includesfour roomsWhen purchasing real estate, there is an opportunity to obtain a residence permit. You will be offered a wonderful townhouse that is located just a...200 meters from the seaIt is a comfortable villa that is fully ready for your stay – it already has both furniture and appliances. The property is located in a well-maintained gated community on the first line from the sea, ensuring a high level of privacy and seclusion.

House in Famagusta

If we continue the topic of real estate, let's consider a house in Famagusta. Its area is240 m²and it includesfive roomsThe villa is located in2.5 kilometers from the shorelinein a calm and quiet area with developed infrastructure – shops, a school, and a pharmacy. A magnificent beach is located in close proximity.Palm Beach, perfect for relaxation.

Townhouse in Kyrenia

It is also worth noting an interesting option – a townhouse in Kyrenia. Its area is75 m²and it includestwo bedroomsThe recently completed renovation and stunning sea view make it very attractive. This cozy two-level townhouse is fully furnished and ready to move in, located on the front lines to the sea, which adds a special charm to it.

Bungalow in Esentepe

Bungalow in Esentepe with an area of90 square metersThis will be a great find for those looking for comfortable housing in Cyprus. This wonderful property is located in close proximity to the public beach and local amenities such as supermarkets and restaurants. Each bungalow is situated on a small plot of land, providing opportunities for creating a small garden. Additionally, residents can enjoy the communal swimming pool. The property is offered furnished and features an open-plan living area, creating a space for pleasant relaxation.

Villa in Iskele

If you are looking for more spacious options, take a look at the villa in Iskele. The total area of this property is175 m²and includesthree bedroomsand alsotwo bathroomsThe villa comes with appliances and is located in the popular area of Iskele, not far from the sandy beaches of Northern Cyprus.

The villa, cozily situated in a decorative courtyard and surrounded by greenery, offers unforgettable moments for relaxation and contemplation of the magnificent nature. The architectural design of this villa emphasizes the comfort of its owners and the convenience of living.

Furniture made from natural wood has an exclusive design and texture, which gives it a special aesthetic value. Leveraged Investments offers a variety of real estate options in Cyprus to meet customer demands. For example, a villa in Famagusta with a total area of 120 m² includes 4 cozy bedrooms and 3 bathrooms. For a price of €213,118, buyers not only get the opportunity to purchase a cozy home but also the right to residency, completing the transaction online with the option for a remote viewing.

Comfortable accommodation options

A modern townhouse is also available, consisting of 3 bedrooms, an open terrace, and a potential space for a pool installation — this option will be the perfect choice for a happy family life. The villa is designed in a restrained and modern style, using the highest quality building materials.

• Each of the three bedrooms has its own bathroom.
• Parking for cars is provided.

The complex offers residents comfort and freedom, being within walking distance to the beach and all necessary infrastructure.

Elite residential complexes

Clients can also consider a three-story townhouse with an area of 160 m², located in an elite residential complex just 5 minutes from Long Beach, famous for its magnificent sandy shores on the eastern coast of Cyprus. This complex offers stunning sea views, and the proximity to the picturesque corners of Iskele and Famagusta adds to its appeal. Given such a location, you won't have to worry about key attractions being far from you.

Other interesting suggestions

Another wonderful option worth mentioning is a new villa in Esentepe, covering an area of 50 m², offering 2 bedrooms and 1 bathroom. The complex in which it is built has been designed for residents to enjoy magnificent views of the lagoon and the surrounding mountains. Living here will allow you to admire beautiful sunsets over the sea right from the comfort of your new home.

Cozy villas in Kyrenia

It is also worth mentioning a magnificent 4-bedroom villa with an area of 160 m², located in Kyrenia just 600 meters from the sea. The complex is situated in a calm and secluded environment, close to essential amenities, ensuring high standards of construction and finishing. The architectural concept of this building impresses with its design, and the well-equipped grounds include a pool and offer panoramic views of the sea and mountains.

Modern townhouses

In addition to the aforementioned properties, townhouses with 2 bedrooms are offered in Kyrenia, featuring a communal pool and centralized air conditioning and heating. These new constructions are designed with modern standards and expectations in mind, providing owners with all the conditions for comfortable living and enjoying life on the Mediterranean coast.

They are perfect for those looking for stylish accommodation with an excellent location and the opportunity to enjoy every moment.

Conclusion

Now you have the opportunity to choose your ideal home in Cyprus from a variety of options, each thoughtfully designed with your needs and comfort in mind. Don't miss the chance to become the owner of a unique property on this wonderful island!

Villa in Famagusta from Red Feniks

The villa offered in Famagusta by Red Feniks is priced at €224,958. The non-residential property is situated on a plot of 103 m² and consists of three rooms, two bathrooms, and two terraces. Purchasing this property provides the opportunity to obtain residency. Both online tours and the option to complete the transaction remotely are available.

The villa is located in the Mutluyaka area, not far from the city of Famagusta. It is a modern bungalow with two bedrooms and two terraces, making it an excellent choice for families. The interiors are designed in a contemporary style using high-quality materials and modern equipment, and each bedroom has its own bathroom.

Two-story villa from Leverage Investments

Leverage Investments is offering another villa for sale in Famagusta for €227,200, with an area of 230 m². This beautiful two-level house is located in a picturesque area along the Mediterranean coast, featuring stunning views of the sea, surrounding mountains, and lush nature.

This region is known for its natural beauty and tranquil atmosphere, making it an ideal place for relaxation and comfortable living.

Luxurious villa from Mayalanya Group

Mayalania Group offers for sale a luxurious villa in Kyrenia for €230,300, with a total area of 186 m², just 200 meters from the beach. This property is located in a well-maintained gated residential complex, situated on the first coastline.

• A complete set of infrastructure for comfortable living and recreation is located nearby.
• The construction of the villa was carried out to a high standard using quality finishing materials.
• The final price includes all necessary furniture and appliances, as well as the well-maintained grounds of the complex.

Current situation in the real estate market

According to Ekaterina Gannenko, the sales director for the CIS countries at Caria Estates, there is a steady increase in property prices in the Northern Cyprusreal estate market. This is driven by high demand from international buyers, which has risen by 10-20% over the past six months.

Recently, developers have been unable to complete new projects in time, which creates competition for housing: sometimes, the property that is being viewed has already been sold.

Advantages of interest-free installment plans

On the positive side, developers in Northern Cyprus offer interest-free installments, which are often more advantageous compared to offers in Turkey. The down payment can be as low as 30%, and the repayment period can extend up to six years.

These conditions also apply to already built apartments, making such offers more attractive to potential buyers.

Recommendations for foreign investors

Realtors advise foreign investors to pay attention to Kyrenia and its surroundings, as well as to Famagusta, especially the Iskele area, which ranks highly in Forbes ratings, and to Long Beach, known for its beauty and quality of life.

Available Housing Options in Northern Cyprus

There are quite a few affordable housing options in Northern Cyprus, among which are apartments in Kyrenia priced at €45,481. These units have an area of 13 square meters, including one bedroom and a bathroom. Purchasing such property provides the opportunity to obtain a temporary residence permit, making this offer even more attractive. Additionally, buyers can complete the transaction online and take advantage of financing options.

Quiet Neighborhoods for Living

Every year, more and more people are striving to escape the hustle and bustle of the cities and enjoy a peaceful life while still being close to developed infrastructure. This is precisely why they are drawn to the Tatlısu area, which is perfect for those who value comfort and tranquility. A new residential complex is planned to be built in this region, set to be completed by December 2025, and it will offer numerous amenities for all residents.

Studios in Iskele

Another interesting option is a studio in Iskele, priced at €58,000, with an area of 46 square meters. This apartment also includes a bedroom and a bathroom. It is located in a popular residential complex by the shore, just 600 meters from the beach. The studio is fully furnished and equipped with all necessary appliances, making it ready for immediate living or renting out. It is also important to note the high potential for successful rental, as the property is situated in an area with a well-developed tourist infrastructure.

Another Studio in Iskele

We also have another studio in Iskele, measuring 32 square meters and priced at 58,000 €. It is located on the first floor of a new residential complex, just 400 meters from Long Beach, and offers a magnificent sea view. All taxes have already been paid, and the apartment is fully furnished. The rental potential for this studio during the season reaches 45 euros per day, while the monthly rent is 500 euros. The complex also includes commercial spaces, making it more attractive to investors.

Studio in Kyrenia

There is also another interesting offer - a studio in Kyrenia, with an area of 35 square meters, is available for €58,000. This modern resort complex is located in Gaziveren in Northern Cyprus, just 500 meters from the sea. The complex, covering 4,000 square meters, includes 267 apartments, with prices starting from €55,000. The project offers unique solutions, such as:

• an indoor pool with a panoramic view of the sea;
• restaurant on the 11th floor;
• cascading terraces on the fifth floor.

Modern Apartments in Alsancak

Modern apartments with an area of 50 square meters are located not far from the center of Kyrenia, priced at €64,419. This complex is situated in the suburb of Kyrenia, in Alsancak, which is known for its unique atmosphere, picturesque views of the mountains and the sea, as well as some of the best beaches and restaurants in Northern Cyprus. Alsancak has many popular entertainment venues, making this area attractive for living.

Real Estate Market in Northern Cyprus

Overall, the real estate market in Northern Cyprus offers a wide range of current options for purchase, which are well-suited for both living and investment. The desire of people to relax away from the hustle and bustle of the city, along with the availability of modern amenities, creates ideal conditions for living and doing business in this picturesque region.

Real estate in Cyprus: attractive investment opportunities

Cyprus, known for its great prospects for investors, offers a variety of unique real estate opportunities. One of the most popular options is a cozy apartment in Iskele with a total area of 46 sq.m. This property is available for €66,309 and would be an excellent place for both permanent residence and rental, providing a stable income of approximately10% p.a.Interestingly, when purchasing property in Northern Cyprus, you can obtainresidence permitfor the whole family without the need to provide financial documentation, which simplifies the purchasing process.

Offers from developers in Iskele

In Iskele, you can also find attractive offers from developers, among which special attention should be given to an apartment with an area of 60 m² priced at €70,369. It includes two rooms and the option to obtain a residence permit. This complex is calledCaesar Resortis known for its developed infrastructure and offers its residents 15 swimming pools and many other amenities that create comfortable living conditions.

Apartments with terraces are also available here, where you can enjoy the fresh air and the resort atmosphere. This residential complex has significantly increased in popularity in the real estate market.

Esentepe: modern complexes

In addition, the Esentepe region also offers enticing options. Apartments with an area of 49 m² in one of the modern complexes provide a variety of amenities, including:

• open and closed swimming pools,
• water park,
• playgrounds for children.

The price of this property is €70,400. As in other cases, it is possible to obtain a residence permit, which makes this option attractive for potential investors. Living here guarantees high comfort and a modern lifestyle for its residents.

Kyrenia: cozy apartments by the sea

When talking about real estate in Cyprus, one cannot overlook Kyrenia, where you should pay attention to apartments with an area of 50 m², located just 250 meters from the beach. These residential spaces, offered at a price of €73,644, are suitable for those seeking solitude and tranquility. Kyrenia will delight you with its picturesque streets and peaceful atmosphere, allowing you to enjoy magnificent sea and mountain views.

Lapta: available apartments close to nature

Such a wonderful option can also be found in the suburb of Kyrenia — Lapta. These apartments are known for their affordable price and the surrounding beautiful nature. The complex is located in close proximity to places for outdoor activities and cultural attractions, creating ideal conditions for living in Cyprus.

Conclusion: diversity and opportunities

The variety of housing in Cyprus, along with its remarkable investment opportunities, makes this island particularly attractive to potential buyers. Each of the offerings provides not only the chance for comfortable living but also for generating stable rental income. Cyprus is the perfect place for those seeking harmony between work and leisure, as quality real estate on this island offers all the necessary conditions for a comfortable life.

Attractive residential complex by the sea

This residential complex is located in an extremely attractive area, just a ten-minute drive from Famagusta and in close proximity to a magnificent sandy beach, which is only 600 meters away. This 5-star complex is situated on the picturesque Long Beach coastline and offers residents a high level of service and amenities. Here, luxury and comfort harmoniously blend, creating one of the most sought-after locations in Cyprus.

Unique investment opportunities

You have a wonderful opportunity to invest waiting for you.77,432 €for an apartment with an area39 m²In Iskele. You will be able to take a virtual tour and complete the transaction remotely, using rubles or cryptocurrency for payment. This offer stands out from others due to the strategically convenient location of the Intermark Global project near the town of Bogaz, which is becoming increasingly attractive for vacations in Northern Cyprus.

On the complex's grounds, you will find all the necessary amenities for living, as well as numerous opportunities for active recreation and enjoyable time at the beach; the equipped beach is just 500 meters away.

Apartments in Alsancak

An interesting option could also be apartments in Alsancak, which are offered for78,300 €with a total area40 square metersThese apartments include two bedrooms and one bathroom. The project offers the possibility of obtaining a residence permit based on the purchase.

Alsancak is perfect for both permanent living and as a place for vacation or investment purposes. This two-bedroom apartment with a 40 m² terrace has a convenient location:

• at the foot of the mountains;
• Just a five-minute drive from shops and restaurants.

This makes it especially enticing.

Apartments in Iskele

In Iskele, you can find apartments at a price79,031 €, which offer an area in32 square metersand provide all the conditions for a comfortable life. The complex includes both open and closed swimming pools, in addition to many other amenities such as:

• Turkish bath;
• restaurant with a bar;
• a covered terrace for relaxation.

This is a wonderful place for both a relaxing getaway and active outdoor entertainment.

Studio in Iskele

Keep in mind the apartment in Iskele, which is available for80,000 €This studio, with an area of59 square metersIt includes a separate balcony and furnishings, making it a great opportunity for rental or permanent living. The complex is located in close proximity to clean sandy beaches and offers excellent living conditions.

Real estate in Kyrenia

Kyrenia remains another attractive city for purchasing real estate. For example, a two-bedroom apartment in this area has an area of60 square metersand offers its own garden. The price for such real estate is82,569 €This is an excellent investment for those looking to make a profitable purchase. Lapta is located just 15 minutes from the historic center of Kyrenia and the old harbor, creating excellent conditions for both living and recreation.

Apartments in Alsancak

In Alsancak, 2-bedroom apartments are available with an area of45 square metersfor82,879 €This city attracts both tourists and those considering Cyprus as a new home. Thus, investing in real estate here can be a successful choice that also allows one to enjoy life on this magnificent island.

Conclusion:

Thus, the real estate market in Northern Cyprus is experiencing an incredible surge in activity, driven by both internal Russian factors and the international situation. Issues with traditional payment systems and restrictions on financial transactions seemed to close the doors for Russian and Belarusian buyers. However, as practice has shown, the new reality has required the search for alternative paths and solutions.

Personally, I have observed how Russia's investment interests intertwine with the influx of buyers from Western Europe and the USA. The unique legal situation, combined with attractive conditions for acquiring real estate, has made Northern Cyprus a true investment paradise. For many, it is not only a way to preserve and grow their savings but also an opportunity to obtain residency in a comfortable and favorable area.

Moreover, the use of cryptocurrency for transactions opens up new horizons, allowing us to bypass traditional banking restrictions and providing greater flexibility for buyers. This summer, as economic activity has been recovering after the pandemic, we witnessed a threefold increase in sales compared to previous periods, indicating a strong interest in real estate in this region.

It is impossible not to mention the positive image of Northern Cyprus, which is gradually strengthening in the eyes of international investors. These changes open doors not only for Russians but also for other foreign citizens looking to find their place in this thriving market.

Key points:

• Investment interests:An increase in interest from Russian buyers and foreign investors.
• Cryptocurrency:The possibility of legal transactions using cryptocurrency.
• Market activity:A threefold increase in sales compared to pre-pandemic levels.
• Positive image:Northern Cyprus has become an attractive destination for foreign investors.

Thus, a new era in real estate is emerging before us, where opportunities and strategies are transforming, and boundaries are becoming increasingly conditional. Northern Cyprus has undoubtedly become a landmark location for investments, and its future looks very promising. I am confident that this market will continue to develop, offering new opportunities for all interested parties.