Why Northern Cyprus is the perfect plan “B”

More and more Europeans are considering Northern Cyprus as a backup plan. What attracts investors and why is the number of expats growing?

We share our thoughts on why Turkish Northern Cyprus becomes the ideal “B” plan for many people.

Unstable situation in Europe

An unstable economic situation is now observed In European countries, the economy is declining, inflation and prices are growing, so more people are trying to find out how to protect savings during a crisis, as well as which country is safe to move to.

Northern Cyprus is now one of the suitable countries where you can profitably buy property and earn money on investments.

Proximity to Europe

The geographical location of Northern Cyprus is simply perfect. Airplanes from Turkey fly here daily, and ferries also run periodically. For holders of a Schengen visa, a Cypriot national visa, visas for Bulgaria, Romania and Croatia, entry through South Cyprus is possible.

It is easy to get a residence permit for Northern Cyprus

here is a simplified procedure for obtaining a residence permit in Northern Cyprus: it is enough to buy a property, regardless of the cost, or show a high income. Therefore, moving to permanent residence in Northern Cyprus is quite simple.

Property in Northern Cyprus

Apartments in Northern Cyprus are 2-3 times cheaper than in Europe. While the European real estate market is stagnating, housing in Northern Cyprus has only been getting more expensive for several years.

Europeans prefer to buy property in Northern Cyprus to other options — only here you can find favorable conditions for interest-free installments from developers up to 7 years, make an initial payment of 35% and at the same time get a residence permit for all family members.

Return on investment in real estate in Northern Cyprus

Not everyone is ready to change their country of residence, but everyone wants to protect and increase their savings. It is difficult to find a country where the real estate market has shown rapid growth, Northern Cyprus is one of them.

You can invest at the excavation stage and get a capital gain of 40% by the end of construction, or you can consider the option of guaranteed passive income. For some projects, developers offer payments of up to 8% per year of the cost of apartments, regardless of the fact of settlement. Sounds too good to be true, but it is.

Such conditions attract many investors, so they choose Northern Cyprus as their plan “B”.

Inexpensive life in Northern Cyprus

If you are planning to move to Northern Cyprus, you are primarily interested in the cost of living. Prices here are much cheaper compared to Europe, at the same time you get much better vegetables, fruits, meat and other products.

The currency of Northern Cyprus – the Turkish lira – is not stable, therefore, having an income in foreign currency, your standard of living will increase significantly.

The warm Mediterranean climate, beautiful nature, measured pace of life will allow you to live to the fullest, and not survive in a crazy race.

Safety

The Republic of Northern Cyprus is distinguished by a high level of security — there is practically no crime here. Children can walk without adult supervision, and car or even apartment doors are often left open because it is safe.

Violators of the law are quickly found and, after imprisonment, are deported to their homeland. Laws are strict, so no one wants to break them.

The legal system is based on Anglo-Saxon law and every clause of the contract must be respected. Therefore, always carefully study the contracts, and it is better to resort to the help of an experienced lawyer.

Education in Northern Cyprus

Kindergartens, schools and universities of the country are built according to the Western model of education. After graduating from private schools, the doors of European and American universities are open for graduates. International education is affordable and provides children with a successful career in the future.

In this article, we have shared several reasons why more people are choosing North Cyprus for living and investing. We hope the information was helpful. You can always contact our experts for a free consultation to take the first step towards buying a dream home by the sea!