Buying property in Türkiye or Cyprus
Both Northern Cyprus and Turkey are located near Iran, and due to their cultural commonality and low cost of living and education, they are considered suitable immigration options for Iranians. Investing in housing is one of the best investment methods in Turkey and Cyprus, because in addition to increasing the price, you can get accommodation for yourself and your family members or earn money by renting out your property. Investing in the real estate sector of Turkey and Northern Cyprus has always been on the rise and is considered a suitable option due to the appropriate growth. Property and houses are not imported goods, which means that you cannot import the property from other countries. Investing in the real estate sector must be done in a foreign country, and as a result, the price of real estate is determined based on the characteristics that exist in that country. The growth of investment in the housing sector is also subject to political and social events in that country. So it is better to compare the purchase of property in Turkey or Cyprus, take a look at the events that have happened in the last few years in the two countries, the political developments in Turkey are broadcast every day through the media, but less information about Northern Cyprus We have and that's why we suggest you read the future of North Cyprus.
Comparison of buying property in Türkiye or Cyprus in terms of investment growth
The subject of property price investment growth is a very important and key point in choosing a property, customers are looking for properties that will make more profit by purchasing them in a certain period of time, for example, you buy a house in a foreign country and after If you want to sell it for a year or if you want to give it to someone else, the more profit you have made, the better investment you have made.
It is interesting to know, people who in 2022 in North Cyprus and Long Beach have bought a property, they have earned 85% profit from their investment within one year, of course, this profit was in British pounds and if we want to convert it to Rials, it is about 3 times or 300% growth in one year, this While this amount of profit in Turkey was 16%, of course, the reason for this profit is the high demand for housing in Cyprus, which is expected to continue for several years due to the favorable weather and other conditions. be
Every year, many tourists and travelers travel to Turkey, and on the other hand, the Cyprus government offers concessions to property buyers, which has made the real estate market in Cyprus boom, you will definitely spend money to buy a house in North Cyprus. You will bear a lot, but don't forget that your profit will be much higher than buying a similar property in Turkey
Comparison of Türkiye and Cyprus for property purchase in terms of price and payment terms
Real estate prices in Turkey and Northern Cyprus in 2023 are very similar, of course, this is regardless of land ownership in Cyprus, Turkey is a very large country with different weather conditions, but Northern Cyprus is in a It is located on a small island and has the same climate in most of its areas.
Considering the similar prices between Turkey and North Cyprus, in terms of price, the payment terms in North Cyprus are much better, the 8-year installments in Cyprus have made the tip of the scale more towards this country, we Iranians are more comfortable with installment terms. We are always looking for installment purchases, and this is while Turkey sells its properties in cash or in 12-month installments, and there is no news of 84-month installments.
The difference in rent between Cyprus and Türkiye
Renting a house in Cyprus and Turkey is a good way to earn money, many investors in the real estate sector buy houses with the aim of renting their residential units, but how is the rent compared between the two countries? For comparison, we consider two residential units with the same price, and according to the surveys, the average house rental price in Northern Cyprus is 35% higher than in Turkey, and therefore with a certain amount of investment, you can Get more traffic.
Factors to consider when buying property in Türkiye and Cyprus
When buying property in Turkey and Cyprus, there are several factors to consider. The first factor is location, as this determines the value of the property. For example, proximity to beaches, towns and amenities can affect price. Secondly, consider the legal aspects of the purchase. In Turkey and Cyprus, buyers should hire a lawyer to make sure the property is legally sound and all contracts and documents are correct. Additionally, it is important to research the local environment such as infrastructure, public transportation, and schools. Finally, consider the cost of ownership. This includes property taxes, insurance and maintenance costs. It is necessary to consider these costs before buying a property in Turkey or Cyprus.
Is it possible to sell property in Cyprus after purchase?
You can leave your property and house to any person you like and there are no restrictions in this regard.