Cyprus Property Investment News

North Cyprus attractive for investors

North Cyprus attractive for investors

Northern Cyprus is more attractive to investors than the south of the island, according to a property investment service.

Lower prices and little damage from tourism makes northern Cyprus the far more attractive property destination, Investors Provident said.

However the market is more difficult to enter since northern Cyprus is currently occupied by Turkey.

Hetal Shah, director of Investors Provident, explained that the regional difference is "primarily because of the pricing. There's a lot more to be had, it's a lot more unspoiled than the South."

Mr Shah added: "The south has been very commercialised by tourists, whereas the north has remained very untouched. It's a lot more picturesque."

He said that in the north a fully furnished one-bedroom apartment costs around £35,000, which indicates a "massive difference" when compared with the south.

The Turkish Republic of Northern Cyprus declared its independence from the rest of the island in 1983 - but is not at present recognised by the EU.

Many Greek Cypriots who were forced south following the declaration of independence are at present trying to reclaim their legal right to property they had previously owned in the north.

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