Northern Cyprus is a place where real estate investments have reached very serious levels. In this context, it is important for investors to have an idea about the future of their investments by evaluating real estate depreciation. In this context, the amortization period in Cyprus is more advantageous compared to many other European countries and Turkey. While in European countries the period is generally 25-30 years, in Cyprus this period is between 8-12 years.
Rental fees in Northern Cyprus are determined in US Dollars, Euros or British Pounds. This creates a source of income in foreign currency for real estate owners. The absence of any limitation on rent increases minimizes losses that may arise from inflation or currency changes in rental income, and also allows rent amounts to be collected annually in advance in long-term rentals. This makes Northern Cyprus an attractive investment center for investors aiming for foreign exchange income.
When investing in real estate in Northern Cyprus, buying and selling transactions are carried out in Pounds. If you invest in a project, the average annual profit rate is usually around 15-20% in Pounds. Therefore, you have the potential to increase foreign currency value thanks to the investments you make through Neta Cyprus.
Northern Cyprus offers advantageous education opportunities for students in many respects. Students can study in the departments they want at universities with very high quality education. Cyprus, which has made major investments in the academic education system, continues to open new research centers at its universities.
More than 120 thousand students studying at universities come from 140 different countries. ITU, METU and Anadolu University also have campuses in Cyprus. Medicine, engineering, business, law and tourism are among the most preferred departments.
There are safe and comprehensive education campuses for students. Universities also provide support such as accommodation and educational support. The lecturers are lecturers who have been successful all over the world and are experts in their fields.
Annual property tax in Northern Cyprus is quite cheap as it is calculated on the minimum square meter. It can be paid in two installments in April and September.
The rates are as follows:
For residences up to 120 m², 1.85 TL is paid per square meter. In other words, the annual tax for a 100 m² flat is 185 TL.
For residences over 120 m², 2 TL is paid per square meter, but the calculation is a little different here. For example, 120 m² of a 150 m² flat is calculated at 1.85 TL, and the remaining 30 m² is calculated at 2 TL. In short, the annual tax for a 150 m² flat is 282 TL.
120 x 1.85 = 222 TL
150 – 120 = 30 x 2 = 60 TL
222 + 60 = 282 TL
* The current price is determined by the municipality and may change every year.
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