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Cypriot accommodation is cheaper than in the Aegean region.

Cypriot accommodation is cheaper than in the Aegean region.

Cypriot accommodation is cheaper than in the Aegean region.

Kusey Cyprus Turkish Republic (KCTR) is becoming increasingly attractive to foreigners and Turks, offering attractive home-buying opportunities. According to Para Dergisi magazine, many construction companies from Turkey have started projects on the island. Real estate experts say that property prices in the KKTR are much more affordable compared to the Aegean coast, and they have high rental yields. The capital Lefkosha, Girne and Famagusta, where tourist hotels are located, are among the most popular cities to buy a home in the KCTCP.

The lower housing prices in Cyprus compared to the Aegean coast are attracting many investors to the island. Forbes magazine named Cuse Cyprus first among the top five best coastal countries in the world for real estate investment in 2021.

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Return on investment for coastal communities can range from 9 to 14 years. KCTCS only has the right to purchase one dwelling. The price of a one-bedroom apartment in the center of Girne is £45,000. An increase in the number of Turks leaving Turkey and purchasing homes in the KCTR has also been noticed.

In addition, Cyprus, evaluated as an investment zone with more affordable prices compared to Turkey, is also frequently chosen by Turkish citizens investing in real estate. Especially after the pandemic, there is an increase in housing prices in tourist regions such as Bodrum, Cesme and Marmaris at almost 100%, which has an impact on increasing demand for KKTR.

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