Iskelek became 25 % foreign

Investment in real estate in the Iskele area is increasing, leading locals to abandon the dream of becoming homeowners. Prices for studios and one-bedroom apartments in the area start from £90,000 and go up to £120,000, while one-bedroom apartments range from £120,000 to £160,000. Prices for two-bedroom apartments range from £160,000 to £250,000 and the minimum price for a detached house is £350,000.

Local residents with incomes in Turkish lira can barely afford to buy property in the current economic climate, and estate agents in the area point to the low purchasing power of the population as one of the reasons for this situation. Industry representatives report that 20-25% of the real estate market in Iskel is influenced by foreign investors and complain about unauthorized sales and development in the area. Realtors say there are many investors from countries such as Israel, Germany, Ukraine, Iran, Kazakhstan, Russia and in some key locations such as Karpaz, Kayalar, Esentepe, there are many foreign investments in the region.

"Shadow realtors" are detrimental to the government and industry workers...

Foreign development in and around Iskel continues to cause some problems. Realtors in the area complain about the lack of oversight and demand action to prevent the problem. Realtors report that "shadow realtors" are hurting both the state and the registered real estate companies that depend on the industry. They also note huge financial losses.

"Prices are high, action needs to be taken," says Cyprus Loft Estate director Mustafa Tan

Noting that Cypriot locals can no longer afford to buy homes, says there is a need for government intervention in the sale of secondary housing.

Director of Emlak Dünyası Iskele Hasan Efe

says that in the Iskele, Esentepe and Tatlısu neighborhoods, sales are mainly made through illegal and foreign realtors who do not pay taxes and are not registered. He also talks about high sale prices and the inability of locals to afford to buy apartments. He notes that foreigners are buying apartments and renting them out through foreign websites. He also emphasizes the need to increase the wealth and purchasing power of the population.

Director of Estate Point Salih Bozkurt

says 20-25% of the neighborhood is owned by foreigners. He also talks about the need to control companies that operate as real estate agents under the guise of public investment companies. He notes that there are many illegal realtors who are not licensed to engage in this activity. He also talks about high sale prices and the inability of locals to afford to buy real estate. He notes that there is a situation with illegal real estate activities.