Investment opportunities in the real estate market of the KKTС

The Turkish Republic of Northern Cyprus (TRNC) offers numerous opportunities for investors in the real estate market. The interest of Turkish investors in this region, where housing prices have increased by 40% compared to last year, is growing every day due to the potential for earning income in foreign currency through rentals.

The Turkish Republic of Northern Cyprus has become one of the most popular places in the world for real estate investment. Due to the limited area of the island state, the TRNC cannot fully meet the demand, allowing it to establish a balance between supply and demand in its favor. The region also attracts attention with its economy, which is based on higher education and the tourism sector.

The country where real estate is traded in pounds sterling ranks among the top preferred foreign investment regions. In the KTR, 10,000 residential houses were sold last year, totaling a real estate volume of 400 million pounds sterling. The average price for housing in this region starts at 90,000 pounds sterling, and the price per square meter ranges from 2,000 to 4,000 pounds sterling.

The CEO of The Best Invest, Dara Altunay, who is a key player in the real estate market in Northern Cyprus, notes: "The interest of Turkish investors in overseas investments is growing every day due to the opportunity to earn income in foreign currency through rentals. We are seeing the results of this interest, especially in the TRNC. While the typical payback period for real estate is usually 18-20 years, in NorthernCyprus we see this figure reduced to 10-12 years. This attracts the attention of many Turkish and foreign investors due to the increase in rental income and property values in this region."

Altunay notes that the cost of housing in the region has increased by 40% compared to last year, and 20,000 new residential buildings have been constructed. He also points out that investors are coming to the region not only from Turkey but also from Europe and Asia, showing great interest in KTR.