Asfen Construction Investment in Cyprus

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Cyprus, the third largest island of the Mediterranean, attracts domestic and foreign tourists as well as investors. With the increasing number of hotels, tourism and real estate investments and opened universities in the Turkish Republic of Northern Cyprus (TRNC) in recent years, the number of people who want to invest in Northern Cyprus is increasing.

In 2016, 2 million 360 million Euros were earned by 3 million 180 thousand tourists coming to holiday in Northern Cyprus. The tourism sector, which has grown even more by investing in airports and hotels, has also increased employment in this sector and thus the demand for real estate and thus the real estate sector in North Cyprus has also positively affected.

In North Cyprus, the education sector as well as the tourism sector is growing rapidly. By 2017, there are approximately 97,200 students studying at 17 North Cyprus universities, including the Eastern Mediterranean University and the Near East University. By 2025, the number of students with new universities is estimated to be approximately 200,000. Students are allowed to buy or rent houses in North Cyprus for reasons such as students, faculty and administrative staff, the cost of dormitory and lodging facilities of the universities, and the comfort of the dormitory and lodgings.

Compared to Europe, as well as being very affordable real estate prices, property of the affordable and rents in recent years due to the high attracts the attention of Türkiyeliler as Europeans Northern Cyprus real estate market, further reinvigorated with increasing zoning permit rates. The ongoing modern and profitable projects in Girne, Nicosia and İskele areas are benefiting those who invested in Northern Cyprus since the construction period.