Buyers who decide to invest in property in Cyprus are immediately faced with the question - where is it better to buy property in South or North Cyprus? In this article, we will compare Northern and Southern Cyprus from different sides and determine where it is more profitable to invest today.
To get information about the daily price and conditions for buying properties for sale in the northern part of this island, you can refer to buying property page in Northern Cyprus.
Brief information on South and North Cyprus
Since 1974, the once unified island of Cyprus has been divided into 2 countries: the Turkish Republic of Northern Cyprus and the Republic of Cyprus. Northern Cyprus occupies 1 third of the island inhabited by Turkish Cypriots, and Southern Cyprus occupies 2 thirds of the island inhabited by Greek Cypriots.
The population of Northern Cyprus has 300 thousand inhabitants, who are mainly Muslim, have Turkish culture, cuisine and traditions.
The population of Southern Cyprus is 800 thousand people, who mostly profess Christianity and have adopted Greek culture.
This once single island, which has a majestic history, was divided into 2 completely different countries.
We will compare these countries according to the criteria that must be considered when choosing a location for real estate investment.
For information on the price and terms of buying villas for sale in North Cyprus, refer to the following page:
Transport accessibility
Southern Cyprus is part of the European Union, but not in the Schengen area. Therefore, foreign citizens can enter the country by issuing an electronic visa for South Cyprus. There is one international airport of Larnaca in South Cyprus - in summer, in addition to regular flights, direct charter flights from European countries are organized.
You do not need a visa to visit Northern Cyprus. Upon arrival, tourists receive an entry stamp (sometimes placed in the passport, but more often in a separately completed leaflet). Ercan Airport operates on the territory of Northern Cyprus. Since the country is partially recognized, it can only be reached through a transfer in Turkey by plane or ferry to the island.
Residence permit by investment
In the South, you can only obtain a residence permit for investment in real estate when buying a new residential building worth at least 300 thousand euros. In the Northern part, you can apply for a residence permit when buying real estate for any amount.
You can see the daily prices of all types of apartments for sale in North Cyprus along with complete
information by referring to the following page:
Education
Education at Universities in both parts of Cyprus is valued all over the world. The British system of education operates here: bachelor's degree - master's degree - doctorate. In most universities, teaching takes place in English, which undoubtedly makes them even more popular among foreign students.
There are 8 universities in South Cyprus and 12 universities in North Cyprus, so North Cyprus is more popular as a destination for higher education. After receiving a diploma at Cypriot universities, graduates have a good prospect of finding a job in Europe.
cost of living
If you compare the cost of living in South and North Cyprus, you should refer to the statistics. For comparison, we took popular cities, in the south - Limassol, in the north - Girne.
• Prices in catering places in Limassol are 33% higher than in Girne
• Products in the markets in Limassol are 53% higher than in Girne
• Gasoline in Limassol is 31% more expensive compared to Girne, but cars, such as Toyota Corolla Sedan, will be 48% cheaper
• Basic utilities (electricity, heating, cooling, water, garbage) for an 85m2 apartment in Limassol will cost you 100% more
• Clothes in Girne will cost 63% cheaper than in Limassol
It should be noted that the environment in Northern Cyprus will be better due to the lack of a large number of industrial enterprises.
For more information on this topic, you can read the article Cost of Living in Northern Cyprus.
Property value and payment terms
The cost of real estate in the south and north of Cyprus is very different. Given that the average cost per square meter in the southern part of the island is about 3,000 euros, while in the northern part - 1,500 euros.
Southern Cyprus has not yet recovered from the financial crisis of 2013, after which property prices here fell by almost half. Nevertheless, even in such conditions, real estate in Southern Cyprus is 30-50% more expensive than in Northern Cyprus.
It is also important to note the growth rate of property prices in 2022:
• In Southern Cyprus - 15%
• In Northern Cyprus - 30%
This shows that the investment potential of Northern Cyprus is much higher than that of Southern Cyprus.
In addition to lower prices, developers in Northern Cyprus offer more comfortable payment terms. While developers in the southern part of the island offer only a one-time payment for real estate (due to the past financial crisis), Northern Cyprus offers installment terms for new projects under construction, which, as we see, is attracting more and more investors from Europe.
To buy all kinds of properties for sale in Turkey, you can refer to the following page:
Conclusion
Northern Cyprus is gaining popularity every year. The investment policy of Northern Cyprus, comfortable prices, high standard of living attract more and more investors and immigrants. Our team is ready to advise you on investing in property in Northern Cyprus and provide professional support at all stages of the purchase.
To get more information about buying a property in North Cyprus and also to receive expert advice in this field, you can contact Antalya Estate Group. The experts of the collection are ready to answer your questions at different levels so that you can choose the best options for investing in real estate in this area according to your needs, goals and budget, and take the necessary actions in this field with sufficient knowledge. put into practice.
