The real estate market in Northern Cyprus is experiencing a resurgence that savvy investors cannot ignore. With a clear upward trend in the price per square metre for apartment sales and striking examples of value appreciation, the opportunity for real estate investment is more attractive than ever.
Northern Cyprus Trend:
The latest data shows a continuous rise in the price per square metre for apartment sales, from a modest £500/m² in 2019 to an impressive £1200/m² by 2024. This steady increase highlights the growing demand in the region and reinforces its reputation as a hot spot for investment.
Value Appreciation Examples:
Particularly, the areas of Esentepe and Iskele have demonstrated dazzling growth. Apartments listed at launch prices more than doubled in value upon completion. For example, studio apartments in Esentepe opened at £39,995 and rose to £115,000, and a penthouse listed at £150,000 showcased tremendous growth potential by reaching £425,000.
Example Gains:
Investment returns are bolstered by potential rental incomes. Based on forecasts for the base year of 2023, with realistic rental days, investors can expect an impressive net yield. The net rental yield for a studio apartment could rise to as much as 9.3%, which allows for the investment to pay back in just over 10 years.
Studio Apartment Rental Income Estimate
One-Bedroom Apartment Rental Income Estimate
The real estate market in Northern Cyprus is thriving due to its enchanting Mediterranean location, expanding tourism, and foreign investment-friendly policies. The increase in real estate values is accompanied by a rise in rental demand, making it an attractive proposition for both short-term gains and long-term wealth accumulation.
Whether you are a first-time investor or an experienced portfolio builder, the current trajectory of Northern Cyprus’s real estate market presents a compelling case to consider. With a strategic approach and by exploring promising areas like Esentepe and Iskele, your next investment could be your wisest yet.
As always, diligent research is important. Potential investors are advised to conduct thorough research and consult with real estate professionals to make the most informed decisions. The figures are promising, the locations are ideal, and the timing to invest could be very opportune.
