Forbes Recommends North Cyprus as the Best Place to Buy Property Abroad in 2024

Are you dreaming of buying property abroad, but not sure where to start? Do you want to find a place that offers low prices, high returns, and a great lifestyle? If so, you might want to consider North Cyprus, the best place to buy property abroad in 2024. North Cyprus is a hidden gem in the Mediterranean, with its stunning natural beauty, historical heritage, and friendly people. It also has a growing and stable property market, with many benefits and opportunities for property owners.

In this blog post, we will show you why North Cyprus is the best place to buy property abroad in 2024, and how you can find your dream property with Cyprusify, the trusted real estate agency in North Cyprus. Whether you are looking for a holiday home, a permanent residence, or a rental income, North Cyprus has something for everyone. Read on to discover the advantages of owning property in North Cyprus, and how to take advantage of this opportunity.

North Cyprus Offers the Lowest Property Prices in the Region

One of the advantages of buying property abroad in North Cyprus is that you can get your dream property at a fraction of the cost compared to other Mediterranean destinations or the U.S. North Cyprus has a very affordable and attractive property market, with a wide range of properties, such as apartments, villas, studios, or lands, in various locations, such as the coast, the mountains, or the cities, that fit your preferences, needs, and budget.

According to Forbes, North Cyprus offers 47% savings relative to the U.S. market, which means you can buy a property in North Cyprus for almost half the price of a similar property in the U.S. This is one of the main reasons why this magazine recommends North Cyprus as the best place to buy property abroad. Similarly, North Cyprus offers much lower property prices than other Mediterranean countries, such as Spain, France, Italy, Greece, or Cyprus, where the property prices are up to three times higher than in North Cyprus.

The low property prices in North Cyprus are due to several factors, such as:

•  Geographical location: North Cyprus is a small and isolated island, with a land area of around 3,355 km2 and a population of around 400,000. It is surrounded by the Mediterranean Sea, and has a limited access to the mainland Turkey. This geographical location has limited the development and expansion of the property market in North Cyprus, and has kept the property prices low and competitive.

•  Environmental regulations: North Cyprus has a strict and sustainable environmental policy, which aims to preserve and protect its natural resources and beauty. It has imposed some regulations and restrictions on the property development and construction in North Cyprus, such as the building height, the building density, the building zone, and the building permit. These regulations have limited the supply and availability of properties in North Cyprus, and have kept the property prices low and reasonable.

You can take advantage of the potential appreciation and growth of the property market in North Cyprus, which can increase the value and the return of your property in the future.

North Cyprus Provides Residency Perks and Tax Advantages for Property Owners

One of the main reasons why Forbes recommends North Cyprus as the best place to buy property abroad in 2024 is the attractive residency and tax benefits that it offers to foreign investors. If you buy a property in North Cyprus, you can easily obtain a residence permit that allows you to stay in the country for up to one year without any visa requirements. You can also renew your permit every year as long as you own the property. This means that you can enjoy the warm climate, the friendly people, and the rich culture of North Cyprus without any hassle.

Another benefit of buying a property in North Cyprus is the low tax rates that apply to property owners. North Cyprus has one of the lowest property taxes in the world. There is also no capital gains tax, no inheritance tax, and no wealth tax on properties in North Cyprus. This means that you can save a lot of money and increase your net worth by investing in North Cyprus real estate.

As you can see, buying a property in North Cyprus not only gives you a beautiful home in a stunning location, but also a golden opportunity to enjoy the benefits of residency and tax incentives. This is why Forbes considers North Cyprus as the best place to buy property abroad in 2024.

North Cyprus Boasts a High Return on Investment and Rental Potential for Property Owners

Another reason why Forbes recommends North Cyprus is the high return on investment (ROI) and rental potential that it offers to property owners. North Cyprus has a fast-growing and stable economy. The demand for property in North Cyprus is also increasing, as more tourists, expats, students, and retirees are choosing to visit or settle in this beautiful island. North Cyprus is among the list of the top countries of retirement in 2023 on Expatra and Live and Invest Overseas. This means that the value of your property in North Cyprus is likely to appreciate over time, giving you a profitable asset.

Moreover, if you decide to rent out your property in North Cyprus, you can enjoy a steady and high income from your tenants. North Cyprus has a strong and diverse rental market, with a year-round demand for accommodation from various segments, such as holidaymakers, business travelers, students, and long-term residents. The average rental yield for properties in North Cyprus is 7.2%, which is much higher than the global average of rental yields. This means that you can easily cover your expenses and generate a passive income from your property in North Cyprus.

As indicated, buying a property in North Cyprus not only gives you a comfortable home in a paradise-like location, but also a lucrative opportunity to earn a high return on investment and rental potential from your property.

North Cyprus Enriches Your Life with Its Natural, Cultural, and Historical Wonders

North Cyprus offers an amazing quality of life to property owners. It is a paradise for nature lovers, with its pristine beaches (list of best beaches in North Cyprus), crystal-clear waters, green mountains, olive groves, wildflowers, amazing turtles, cute donkeys, and much more. You can enjoy various outdoor activities, such as swimming, diving, hiking, cycling, golfing, and birdwatching, in the mild Mediterranean climate that prevails throughout the year.

North Cyprus is also a treasure for culture and history enthusiasts, with its rich heritage, diverse cuisine, vibrant festivals, and friendly locals. You can explore the ancient ruins, castles, Byzantine churches, and Ottoman mosques that dot the island, and learn about the fascinating stories and legends (like Saint Hilarion Castle which is said to have inspired the fairy-tale castle of Disney’s Snow White) that surround them. You can also savor the delicious flavors of the Turkish Cypriot cuisine, which is influenced by the Middle Eastern, Mediterranean, and British cultures, and join the colorful celebrations of the religious and cultural festivals that take place throughout the year.

As you can see, buying a property in North Cyprus not only gives you a luxurious home in a prime location, but also a wonderful opportunity to enrich your life with its natural, cultural, and historical wonders. This is why Forbes considers North Cyprus as the best place to buy property abroad in 2024.

How to Find Your Dream Property in North Cyprus with Cyprusify

You might be wondering how to find your dream property in this beautiful island. The answer is simple: Cyprusify. Cyprusify is the trusted online platform that connects you with the best and most affordable properties for sale in North Cyprus. Whether you are looking for a villa, a penthouse, a bungalow, or a studio, Cyprusify has it all.

Cyprusify makes your property search easy and convenient, with its user-friendly and secure website. You can browse through hundreds of verified and updated listings, with detailed and accurate information, and high-quality photos. You can also filter your search by location, price, type, features, and amenities, to find the property that matches your preferences and budget.

Cyprusify also provides you with professional and personalized assistance, with its team of experienced and friendly agents. They will guide you through the whole process of buying a property in North Cyprus, from finding the right property, to negotiating the best deal, to completing the legal paperwork, to moving into your new home. They will also help you with any questions or issues that you might have along the way.

Opportunity of investment in of best place to buy property abroad and Contact Us Today

By contacting us today, you will be able to reserve your preferred property in North Cyprus before it is sold out. You will also be able to benefit from our exclusive and limited-time offers, such as discounts, longer payment plans, and guarantees. You will also be able to consult with our expert and friendly agents, who will answer all your questions and guide you through the process of buying a property in North Cyprus.

Don’t miss this chance to own a property in North Cyprus. Contact us today and let us help you make your dream come true.