Reasons to invest in Northern Cyprus (TRNC)
Turkish Republic of Northern Cypriot (TRNC) is a new Mediterranean property hotspot. Buyers from the UK, East & West Europe, Scandinavia & the Middle East increasingly line up to buy a North Cypriot villa or apartment. North Cyprus is slowly becoming one of the most desirable areas of investing in real property. Especially attractive is North Cyprus to residents of those countries where the national currency in recent years has weakened. In connection with the weakening of the currency appears an immediate need to protect assets from future risk. This article explores the top three reasons why you should invest in North Cyprus property. So read on for news about ways to enjoy a safe, low cost yet fast rising North Cyprus property investment in a unique non Euro zone economy with an international population of owners from around the globe.
Northern Cypriot is a non-EU member state.
The non Euro-area status of Northern Cyprus, formerly seen as an incentive to many, has recently turned into a huge benefit and sales point for overseas house buyers. All North Cyprus properties prices are linked to the steady pound sterling which is the actual international currency in the TRNX, where stores and eateries likewise broadly accept the pound as well the Turkish Lira. Contrastingly, many other Mediterranean property locations (like Spain, Greece or Southern Cyprus) are all priced within euros which have fallen in worth lately.
In addition, the unpredictable nature of the Greek financial system which obviously impacts both Greece and southern Cyprus is putting investors off from buying generally in those places. Within North Cyprus, investors and lifestyle homeowners have “the best of both worlds” – acquiring their property value fixed to a steady currency whilst additionally obtaining a low cost of living due to favorable exchange rates versus the Turkish Lira, which makes dining out, purchasing or furnishing a brand new North Cyprus property very inexpensive.
Easy grant / access to a residency permit
Happy owners of property in the northern part of the Turkish Republic of Northern Cyprus can apply for a residency permit in the country. But if in the south there is a minimum investment of €300,000 but in the north, there is no such requirement. The procedure is free; it takes about three weeks. Owners of homes aged sixty can live in the northern part of Cyprus without a residency permit. To process the residency permit, the homeowner must open a bank account and fund it by an amount based on US$10,000 per family member. The residency permit must be renewed annually. After seven years of living in TRN can apply for citizenship.
Northern Cyprus has a rich culture
Northern Cyprus offers a great mix of history, fantastic food, Turkish culture and classical concerts and other festivals. Where in the Mediterranean can you get all these things in such a small area? You can find them all in Northern Cyprus. With a variety of restaurants serving international dishes, a rich cultural heritage, stunning scenery and incredible nightlife, North Cyprus is an absolute paradise for tourists and locals alike.
Northern Cyprus is cheaper than Southern Cyprus
Generally, Northern Cyprus is cheap when compared to Southern Cyprus. The main cause of this is that Northern Cyprus utilizes the Turkish Lira which is a much better value when contrasted with the Euro (used in Southern Cyprus). The benefit of Turkish Lira money benefits both visitors and people living in Northern Cypriot. Because of the currency benefits, it doesn’t just make it cheaper when you are spending on food, beaches, and cars. Northern Cyprus additionally gives better value and cheaper priced high-quality lodgings when contrasted with lodgings south of the Border.
It is not simply cheaper while you are paying for meals, beaches, and vehicles. North Cyprus additionally frequently gives better value and lower priced top-class resorts, when contrasted with resorts south of the border. Because of the currency rewards, it is not simply inexpensive while you are paying for food, beaches, and automobiles. Northern Cyprus furthermore commonly gives better value and cheaper price high-class lodging, when contrasted with lodgings south of the Border.
Because of currency advantages, it is no longer merely affordable while you are spending on meals, beaches, and automobiles; North Cyprus additionally frequently provides greater value and cheaper priced top-class resorts, whenever contrasted with resorts south of your borders. Because of currency advantages, North Cyprus is cheaper when compared with Southern Cyprus.
Airports / Transportation to Northern Cyprus
Ercan (Lafkosa) and Larnaca Airports are the main hubs of Cyprus. Both offer direct flights to Europe, the Middle East, Africa, Asia, and Australia. They are also connected to the rest of the world through various airlines including American Airlines, British Airways, Cathay Pacific, Delta Airlines, Emirates, Etihad Airways, Gulf Air, KLM Royal Dutch Airlines, Qatar Airways, Singapore Airlines, South African Airways, Thai Airways International, Turkish Airlines, United Airlines, and Virgin Atlantic.