Tuesday, February 27, 2024

Key Locations to Consider When Buying Property in Cyprus

Last updated Tuesday, January 23, 2024 09:33 ET , Source: Property Turkey

The Property Turkey team has used their expertise to build this guide highlighting the best areas to look to buy property in Cyprus right now

Istanbul, Turkey, 01/23/2024 / SubmitMyPR /
Key Locations to Consider When Buying Property in Cyprus
Key Locations to Consider When Buying Property in Cyprus

Nestled in the heart of the Mediterranean and with a gorgeous climate, miles of golden sandy beaches and warm coastal waters, Cyprus welcomes thousands of visitors every year. It provides a mixture of vibrant cities, busy harbour towns, protected historical monuments and quiet, tranquil countryside often populated by charming wild donkeys.

As one of the most popular places for foreign nationals to relocate, purchase a holiday home or invest in a property to let out, the low living costs and quality of life on offer are a big draw. Added conveniences, such as the fact that most people speak English, make the island accessible.

The experts at Property Turkey have compiled this guide to highlight some of the best areas to look for Cyprus property, and share tips and advice to make your property search run smoothly.

What to Know About Purchasing Property in Cyprus

One of the queries we often receive from buyers looking for a home in Cyprus relates to the divide between the north and south of the island. In short, northern Cyprus, internationally recognised as part of the Republic of Cyprus, is a self-declared independent state recognised by Turkey, which refers to this portion of the island as the Turkish Republic of Cyprus.

While there is a 'buffer zone' called the Green Line, which runs between the areas and is managed by the UN, the island remains peaceful. The same entry permissions apply to each part of Cyprus, with a stable economy, rich culture and welcoming environment. EU citizens are free to cross the Green Line as they wish, as are all Greek and Turkish Cypriot residents. Foreign nationals with a valid passport, ID card or visa are equally able to travel openly around the island.

The only restrictions apply to items such as alcohol and cigarettes, much as you would expect at any border crossing, and some hire car companies will allow you to drive on only one side or the other. However, a private vehicle can travel north to south and vice versa.

For property buyers, the important thing to remember is that if you fall in love with a home in the north, it is better to travel to the island through Ercan International Airport. Buyers looking for a home in one of the southern cities are better advised to travel via Larnaca or Paphos International Airport.

The respective authorities work in partnership, with shared administrative services and nine border crossings from east to west. Ultimately, your decisions will come down to personal preferences and objectives, with lower consumer costs to the north but more tourist resorts to the south.

Top Cypriot Destinations for Property Buyers

As specialists in Turkish property, we will primarily focus on the northern region. Still, one of the interesting places you may wish to consider is the capital city of Nicosia, also known as Lefkoşa, the point of the most used Green Line crossing.

Expatriates looking to settle in Cyprus and start a business or searching for properties with excellent rental potential often choose the city, which sits slightly inland.

The balance between local boutique stores, busy business areas, traditional outdoor bazaars, art galleries and high-quality international schools appeals to professionals, families and business people alike, with sustained demand for rental homes and a quieter pace of life a little outside of the city centre for those seeking peace and tranquility under an hour from the nearest beaches.

Buying a Property in Iskele

Iskele is one of the best-known places to buy a home in northern Cyprus, which attracts foreign buyers looking for summer homes and second residences in an area with a laidback lifestyle and some of the most stunning, uncrowded beaches in the Mediterranean.

The lower property prices mean homes along the turquoise coast and pristine beaches are more affordable, and as the region grows, there are a number of luxury newbuild developments and modern villas alongside traditional homes.

Along the beaches, you can see migratory wild birds, marine turtles and countless species of fish, or head to the local park to enjoy live music and storytelling late in the evening during the summer months and public holidays.

Purchasing a Second Home in Lefke

Lefke welcomes a large proportion of students attending the prestigious European University of Lefke but is also an appealing place for those looking for a second home or permanent residence. Its unique position between the turquoise ocean and mountain ranges provides exceptional views and a natural landscape like no other.

The northern position of the town, next to the Guzelyurt Gulf, ensures there is a refreshingly cool sea breeze to take the edge off the heat in the hottest months. Lefke is close to several architectural ruins and walking routes for nature lovers and explorers.

Like much of northern Cyprus, new developments are often underway in Lefke, with high-end housing projects that combine convenience, outstanding facilities and modern property designs to make the most of this tranquil spot.

Northern Cyprus Properties in Guzelyurt

Guzelyurt is a district close to Nicosia, with a name that translates to 'beautiful place'. The town is found on the northwest shoreline with incredibly rich soil – it is covered in greenery, brightly coloured flowers and fruit trees.

Home to the local Museum of Archaeology and Natural History, the town also boasts an ancient Persian palace and the Soli Ruins. This architectural city dates back to Roman times and is one of the ten ancient kingdoms of the island.

The development of a new university has seen visitor numbers, hotels, and investments in Guzelyurt grow dramatically while traditional citrus farmers continue to thrive, and locals look forward to festivities such as the Orange Festival held annually by the community.

Investing in a Property in Girne

Our final spot to consider is Girne, also known as Kyrenia. This town welcomes visitors who travel to the northeastern Cypriot region to enjoy the spectacular beaches and outdoor activities. Investors often opt for apartments in premium locations, which they can let to students during quieter periods or to holiday travellers in the summer, with values appreciating quickly and often providing excellent returns.

With a large expat population, Girne has everything from spas to opulent hotels, restaurants to supermarkets, with countless water sports and activities including horse riding, jeep safaris and classical musical concerts hosted at the local amphitheatres.

For more information about any of these wonderful destinations, the local property market, or homes currently available to view within Cyprus, please get in touch with the Property Turkey team at your convenience. Alternatively, you will find full listings, floorplans, and image galleries displayed on our website.

Read more about Property Turkey – The Best of the Turkish Riviera - Bodrum and Antalya

About Property Turkey: With 20+ years experience in the Turkish real estate market, team Property Turkey are your experienced, friendly and independent overseas real estate consultants. Our head office is located in London, UK with regional operational offices in: Bodrum, Fethiye & Kalkan, Antalya and Istanbul.

Source Company: https://www.propertyturkey.com/

Original Source of the original story >> Key Locations to Consider When Buying Property in Cyprus