With interest in overseas property continuing to grow, here at Key Property Consultants, we are proud to announce that we have officially become international estate agents.
Recently, our team set up shop in North Cyprus and have already generated healthy interest from prospective buyers in some of the developments we have on offer.
We currently have a variety of properties ranging from studios to three-bedroom penthouses and villas available immediately in Cyprus. These can be used as holiday homes, rental investment properties or both, and are available complete or off-plan.
The developments are mostly located in the stunning towns of Famagusta and Iskele – both of which have seen average house prices rise by 3%, according to recent analysis. Some properties are already sold out, however, which highlights the growing interest for Cyprus living among overseas buyers.
Why Cyprus is an attractive destination for foreign buyers
Resting at the crossroads of three continents, Cyprus boasts a rich history, landscape and culture. Its combination of relaxation and exploration opportunities along the coastline has made the island a ‘British playground’ for many years.
Cyprus is enjoying a hike in foreign property buyers, with figures from its Department of Land and Surveys showing the country’s property market has hit an 11-year high in 2019.
Further data has revealed that prices for Cypriot apartments have increased by 1.5%, while prices for private houses have risen by 2%. The most active growth was seen in Larnaca (7%) and Famagusta (4%).
What’s more, under Cyprus’ ‘golden visa’ programme, foreign buyers are granted residency when they purchase property worth at least €300,000. The scheme has become increasingly popular, contributing a 20% rise in foreign buyer activity. In fact, foreign purchasers made up 44.6% of all property sales in Cyprus between January and May 2019.
Property investment in Northern Cyprus
While the Mediterranean island has lots to offer overall, North Cyprus presents a unique opportunity for those who yearn for peace and tranquillity on a stunning island climate.
The northern half of the country boasts some of the best beaches, spectacular scenery, untouched landscapes and underpriced property.
A one-bedroom studio flat in a managed development can cost just £50,000, a new-build two to three-bedroom apartment overlooking the sea can be bought for less than £70,000, and a three-bedroom villa with a garden and pool can be picked up for around £100,000. (Subject to availability). Even large luxury builds with the added extras tend to be significantly lower than similar villas in the south and cheaper than similar properties in France, Spain or Portugal.
From the above, it’s clear why Cyprus – particularly North Cyprus – attracts holidaymakers and overseas buyers alike. If you’re searching for the next location to invest, it’s worth considering this destination.
Here at Key Property Consultants, we can aid you with buying, selling and letting a property in South London, Croydon, parts of Kent and now North Cyprus.
Feel free to pop into one of our offices to grab a copy of our North Cyprus magazine today! You can register your interest for any developments on the island; prices start from only £50,000 and payment plans are available with zero interest. Get in touch with us on 0203 793 2033 to find out more.
If you’re looking to sell, you can also request a free and instant online valuation to see how much your property could be worth on the current market.
Join our list
Subscribe to our mailing list and get interesting stuff and updates to your email inbox.