Forbes magazine included Northern Cyprus in the top 5 best places to buy real estate outside the United States in 2024. The editors base their opinion on an analysis of the cost of housing and the favorable investment climate of Northern Cyprus.
Forbes quotes the opinion of an expert from Live And Invest Overseas magazine, which specifies the cost of housing in the TRNC. An apartment of 100 m2 on the island will cost an average of $118,000. This is 47% lower than the cost of similar housing in the US.
Demand for real estate in the northern part of the island has recently been growing. This is facilitated by the development of tourism, the presence in the TRNC casinos and prestigious universities, good climate and affordable prices.
Recall that in 2022, the Council of Ministers of the TRNC issued 2.8 thousand permits for the purchase of real estate to foreigners. And for the first 8 months of 2023, more than 3 thousand foreign investors received them.
