Aqueduct Mediterranean residence in popular North Cyprus.

In the wake of the real estate pandemic, like many other industries, real estate buying preferences have changed. Under the influence of the Russian-Ukrainian war, international buyers began to show increased interest in the Mediterranean countries. Russian and Ukrainian investors have accelerated the purchase of housing in Turkey, as well as in the KCTCS and other warm and affordable locations.

Turkish interest in investing abroad is increasing

The Turkish investors' interest in buying real estate abroad has also increased in recent years, Turkiye Gazetesi newspaper reported citing Onder Celik. Since 2016, The Best Invest, which gathers investors from Turkey, the KCTCS, Azerbaijan, the Netherlands, Germany, Belgium, Iran and the Russian Federation with investment companies, notes that Turkish investors' interest in investing abroad is growing every day due to the motivation of earning foreign currency income and renting apartments.

AMORTIZATION TERM REDUCED TO 10 YEARS

Dara Altunyai, CEO of The Best Invest, says they have particularly noticed the results of this interest in the KCTCT: "In the KCTCT, where 10,000 residential homes were sold last year, the property as a whole is worth £400 million. Typically, the amortization period for real estate is 18-20 years, while in Northern Cyprus this period has decreased to 10-12 years. "

RENT VALUES AND VALUE OF HOUSING ARE RISINGG/h3>

Dara Altunyay spoke to a group of journalists about his activities at KCTCS. He said the value of housing in the region has increased by 40% in dollar terms compared to last year and 20,000 new homes have been built.

Altunyai said: "In addition to rents, property values are also rising significantly. We estimate that an apartment that costs £80k in 2023 could reach a value of up to £117k in early 2025.

The most interesting cities in TurkeyG/h3>

Altunyay said that in addition to Turkish investors, investors from Europe and Asia are also showing great interest in the region. He also pointed out that there was a study that sparked the controversy surrounding "the sale of real estate and land to Jews." He also said they are pandering to foreign investors and real estate in Turkey. It is important to note that foreign investors especially purchase real estate in Antalya, Istanbul, Mugla and Izmir.

NEW PURPOSE - BLACKNOGORIAAG/h3>

Altunyay said that their company has shown a 50% increase in sales volume every year in recent years, and they have been able to maintain this figure in 2023. He continued: "We want to increase the network of investors we have reached by 2024 without losing them. We are also defining our vision for expansion in different geographical areas based on our findings. We plan to expand our sales network in Europe, West Africa and the Middle East and open offices in the near future. In this regard, we plan to become active in this region with a new office that we will soon open in Montenegro. "