Cheap Property for Sale in Northern Cyprus by Owners
C'est la vie Team

C'est la vie Team

Eco Wellness Resort In North Cyprus

Cheap Property for Sale in Northern Cyprus by Owners

Getting to know every one of you on this blog was a pleasure. I will tell you about “owners selling cheap property in Northern Cyprus” today. The eastern Mediterranean nation of Northern Cyprus is home to stunning scenery, a varied populace, and a long history. The vibrant local community, leisurely pace of life, and abundant amenities demonstrate that Northern Cyprus offers its citizens an excellent living level despite its limited advantages and convoluted political structure.

This article examines the many facets of Northern Cyprus that support general well-being, including its climate, natural surroundings, and ease of access to options for recreation, healthcare, and education. Due to typically cheaper living expenditures, such as groceries, dining out, and transportation, living in Northern Cyprus is also frequently more affordable. Owner-owned property in North Cyprus has a cheap cost of living comparable to that of numerous European nations. North Cyprus’s low cost of living for everyday expenses, dining out, and real estate investments make it a great place for retirees and new immigrants to call home.

Living in North Cyprus is the best option. Travelers may choose from various shopping alternatives in Northern Cyprus, a region known for its stunning natural beauty and rich cultural past. The area is renowned for its remarkable and unique products, which make excellent gifts or souvenirs. Whether you’re looking for high-end products, delectable snacks, or local crafts, Northern Cyprus has a lot to offer through real estate in Northern Cyprus.

Thanks to our extensive advice, you’ll know what to buy when you visit this beautiful part of the Mediterranean. To reside in Cyprus is to construct a home on the island of Cyprus. It means getting to know its people, appreciating its food, scenery, and traditions, and following its rules and way of life. It’s like belonging to the society of Cyprus. Living in Cyprus is often less expensive than in the UK or the USA. Living expenses in Northern Cyprus are low, particularly compared to many other European nations.

Housing: The average cost of a one-bedroom apartment in the city center is around €587.04, but the average cost of an apartment outside the city center is about €470.19.

Utilities: A 915-square-foot apartment’s monthly basic utility costs would be about €113.33.

Food: A gallon of milk costs €4.19, and a loaf of fresh white bread costs €1.70. These prices are fair for consumables.

photo 2023 06 19 11 45 07

Transportation: A local transport one-way ticket costs around €1.35. In Cyprus, taxi fares are metered and subject to government regulation. The price of the first ticket ranges from €3.50 to €5.00, while the cost of each extra kilometer is between €0.70 and €1.50. Additional fees may be associated with waiting periods, baggage, and overnight travel for apartments for sale in North Cyprus. The two primary airports in Cyprus for international flights are Paphos International Airport and Larnaca International Airport. These airports connect Cyprus to locations across Europe and beyond, acting as central hubs for local and international flights.

Dining Out: A three-course meal for two at a mid-range restaurant would set you back roughly €39.9, while a cheap dinner at a restaurant may run you about €9.61. North Cyprus has relatively modest monthly living expenses, averaging between €920 and €1,300. Remembering that the economy is prone to fluctuation is crucial. North Cyprus‘s annual inflation rate was 83.62% as of December 2023. Given this inflation rate, expenses will probably change. Therefore, it’s best to manage your budget using the most recent statistics available.

Healthcare: Choosing between public and private providers affects how much healthcare costs in Northern Cyprus. According to The Lancet, Cyprus has the 26th-best healthcare system in the world, ranking higher than the US, Portugal, and Croatia. 

This is an overview in general: 

Private Healthcare: Although more expensive, private healthcare facilities provide excellent medical treatment. Depending on the coverage, the number of insured individuals, and their age, a family plan for private health insurance can cost anywhere from €150 to €400 per month.

It’s crucial to remember that co-payments, or patient contributions, and the state pay a portion of healthcare expenses. Recent reforms have attempted to bring Cyprus closer to universal health coverage by streamlining and lowering user fees and imposing an annual cap on all co-payments—with a more protective cap for kids, low-income seniors, and those receiving the guaranteed minimum income for purchasing real estate in Northern Cyprus.

Life Expectancy: Its life expectancy is among the longest in Europe. At 82.2 years, Cyprus has one of the longest life expectancies in the EU. Notably, women often outlast males, having an average lifetime of 84.2 years as opposed to 80.2 years for men. Life expectancy has steadily increased by three years over the last ten years, and this trend doesn’t appear to be slowing down. The Cypriots are remarkable in their ability to live long lives, whether because of their excellent healthcare system, the healthful Mediterranean food, or the sunny weather.

Low Crime Rate: Cyprus is unusually secure; according to a recent survey, it is the fifth safest country in the world. However, what elements make this rating so good for a little island? The main reason is that Cyprus has a large police force compared to its population—466 police officers for every 100,000 people. Additionally, with just 111 recorded theft cases per 100,000 residents, foreigners living in Cyprus may benefit from the peace of mind that goes along with low crime rates.

Education: Cyprus’s educational system is well regarded. Cyprus is among the top destinations for international schooling due to its realistic curriculum, excellent graduation rates, easily accessible study options, and convenient access to several foreign schools.

Use this ‘ag34’ promo code and enjoy a free 3-day and 2-night tour! Book now at https://cyprus-resort.com/.

Furthermore, Cyprus guarantees free public education for all students between the ages of four and eighteen, spending over 7% of its GDP on education—the third-highest percentage in the EU, after Denmark and Sweden. Cyprus inhabitants and EU nationals are entitled to free public school and university education. Universities typically charge €3,000 in tuition. However, the government covers this cost. When enrolling in higher education, non-citizens of Europe should budget between €5,000 and €6,000 per year.

The location and caliber of the school determine the cost of attendance. A kindergarten budget is €400 per month, and a school budget is around €6,000 annually.

Prices at private institutions are also influenced by the program and degree of study. You should budget between €9,000 and €10,000 per year on average. Studies at medical schools can cost up to $25,000 a year, on average.

Entertainment: Cyprus has a lot to offer despite its tiny size. For instance, a ticket to a museum or other tourist destination often costs between €10 and €12. A trip to the theatre or movie will set you back about €9.

A fitness centre costs around €60 per person, while renting a tennis court costs between €25 and €30. Water activities, including wakeboarding, water skiing, and jet skiing, run between €30 and €40 for fifteen minutes, while standup paddle boarding (SUP) costs about €70 per hour.

The cost of renting a boat is more than €100 per hour. According to rental properties in Northern Cyprus, if you participate in entertainment events every weekend, you should budget between €200 and €300 a month for a couple. Buying property at the current low prices and earning a quick return on investment are two benefits of investing in real estate in Northern Cyprus.

Many dream of buying property overseas, especially in a country close to the ocean. While the process can be exciting, purchasing real estate abroad is a big decision that requires thought and forethought. Whether the surgery is performed domestically or overseas, there are many considerations to make.

What must be adequately considered when buying property in Northern Cyprus?

The Turkish Republic of Northern Cyprus has recently begun receiving foreign investment. Despite being primarily undiscovered by the outside world, the region is a genuine Mediterranean “pearl.” Not to be forgotten, the northern part of the island has incredible commercial potential in addition to its breathtaking beauty and endless sand beaches. In Northern Cyprus, the average price per square meter remains about one thousand euros, but in other Mediterranean-coastal countries, it has long since reached three thousand euros.

Selecting A Northern Cyprus Asset

Choose the right quality first and foremost. First, let’s review the considerations for purchasing any property with buy property in Northern Cyprus:

You should locate your new home in a location with significant future development and expansion possibilities, and you should consider resale value.

Pick a location with first-rate amenities and infrastructure. For instance, proximity to large retailers, educational institutions, medical facilities, highways, train stations, and other amenities raises the value of a house. Considerations when purchasing real estate

Choose a site, secure funding, create a budget, and more.

The building’s state, the accessibility of power and water, the need for furnishings and upgrades, as well as the related expenses. 

Property sales on the island country of North Cyprus surged in the third quarter of this year, with five Russians among the top buyers. The top 5 purchasers were from Russian-speaking nations, including Iran, Turkey, Germany, the United Kingdom, and other European countries.

Russian and Iranian buyers preferred the town of Iskele, while German and British customers chose to purchase nearer to Kyrenia, Lapta, and some at Esentepe.

Purchasing Real Estate in Northern Cyprus: 

As the number of international students, tourists, and foreign workers increases, so too will the demand for rental properties in Kyrenia and its surrounding communities, including Ozankoy and Catalkoy on the eastern side of Kyrenia City center and Karaoaoglanoglu, Lapta, and Alsancak on the west. Supply and demand will compel developers to build additional homes for investors, but the total number of units permitted to make will only be allowed on development sites that abide by the new building rules.

This new regulation will only increase the cost of the units. Given the impact of global inflation on building materials, real estate investment in the Kyrenia region of North Cyprus appears to be interesting. Its foundation is the scarcity of newly constructed or already owned flats in Kyrenia’s downtown, and it may soon see capital growth of over thirty percent.

Therefore, a 70,000 GBP investment in Kyrenia’s city center may yield a profit of almost 50% after deducting the required 5% annual rental income of five years and the 30% appreciation. 

The Iskele area in North Cyprus has been ranked by Forbes magazine as one of the top ten beach locations worldwide for real estate investments. However, even outside North Cyprus, Kyrenia will remain the most profitable city in the world real estate market. To buy property in Northern Cyprus, take these actions:

Examine and decide on a property.

  • Consult the vendor to determine the terms and purchase price.
  • A down payment of one to five thousand pounds must be made together with the reservation agreement.
  • Have a lawyer review the titles.
  • Pay to utilize the guidelines that have been provided. 

Owners that sell their North Cyprus residence also benefit from the following:

  • No restrictions on the acquisition or disposal of government-guaranteed investment assets
  • Not a single property tax, cash gain, or inheritance
  • Possibility of entry into the EU with just a valid residency permit
  • Both strong capital growth and cheap living expenses
  • Affordably priced rental property

Purchasing real estate in Northern Cyprus offers investors several benefits, including:

  • Low-cost real estate boosts tax advantages and rental yields.
  • steady political environment
  • low crime rate
  • Travel possibilities
  • Beautiful scenery and a growing economy
  • significant financial advantages of the law when effectively implemented 

There are various cheap properties for sale in North Cyprus by owners. I have tried my best to tell you everything about them.

Share:

WhatsApp
Telegram
Facebook
Twitter

Related Posts

C`est la Vie

Our Address

North Cyprus,
Cest la Vie,
Kucuk Erenkoy main road, Tatlisu, Gazimagusa