Good news for investors. Those who have double vaccination can now come to Northern Cyprus without quarantine. So how does this regulation affect the real estate and construction industry? We asked, the professionals answered.
Travelling to Northern Cyprus without quarantine and the expectations of the real estate sector
Good news for investors. Those who have double vaccination can now come to Northern Cyprus without quarantine. So how does this regulation affect the real estate and construction industry? Professionals of real estate answered our questions.
Travelling to Northern Cyprus without quarantine and the expectations of the real estate sector
The long wait is finally over. Those who have double vaccination can travel to the Turkish Republic of Northern Cyprus without quarantine. How will this arrangement work for the Cyprus real estate sector, which has been away from global investors due to the pandemic?
As Kıbrıs Emlak Merkezi, the one and only real estate news-ads portal of Northern Cyprus, we asked professional real estate consultants.
We listened to the position of the real estate sector about advantages and expectations of the new regulation. We conveyed the same questions to selected real estate experts, and they came forward with different perspectives and different answers.
Looking at the overall picture, the rise in the pound exchange rate and interest rates scare the local buyer. Therefore, conditions are much more attractive for the global buyer. In this sense Forbes magazine pointing out investment in Northern Cyprus is significant.
“Iskele and Esentepe Favorite”
Landmax Real Estate Broker Hüseyin Topal thinks that with the new regulations, hot money will come to the country and the market will become actived. Topal says that Esentepe and Iskele areas attract attention and new housing projects will start as demand is increasing.
“Investment and Investors Waiting”
Özeray Investment Coordinator Damla Boğaç Emiroğlu reminds that many investments and investors are on hold due to the pandemic. She states that with the quarantine-free travel, the investor will easily access the island and real estate sales will increase.
Damla Boğaç believes that companies that can reach global investors and manage this process successfully will rapidly grow.
“We Must Make It Easy”
Dengiz Kürşat, Broker of Avertiss Real Estate, says that the incoming investor will invest when they are convinced by the advantages of Northern Cyprus. But he also reminds that the important thing is to attract investors to come to the island without thinking of going to other countries. In other words, he says opportunities must be offered for them to come to Northern Cyprus.
“Local Buyer Also Be Motivated”
Diamond Estate Director Kemal Boyacı is also one of those who percieve the development positively. Stating that many investors from abroad are waiting to come, Boyacı expects the demand created by global investors to motivate local buyers as well.
“Build Project According to Need”
Broker of Emlak Dünyası, Ender Meta says that the rapid rise in the sterling exchange rate is challenging for domestic and Turkish investors, whilst it is an opportunity for foreign investors. Therefore, he states that the newly announced regulations for quarantine will be advantageous for Northern Cyprus. Meta also recommends that construction companies planning new projects should be aware of new demands of house buyers.
“First Choice Kyrenia”
Director of Metro Emlak, Can Erçağ foresees that foreigners will increasingly stay at short-term rentals creating a demand in this sector and that they will invest in the as they get to know it. According to Erçağ, Girne is the primarily preferred area of Turkish and foreign investors.
“Don’t Decide Without Research”
Director of Kumsal Emlak, Nejmi Sıddık makes an important warning. He says that some construction companies were experiencing an economic crisis during the pandemic and in fact are not able to continue their work. That’s why he tells buyers to exercise caution and research the companies and projects before making a decision.
Investment Time
The conclusion of the interviews is that travelling without quarantine will be absolutely an advantage for the Northern Cyprus real estate and construction sector. If the companies find the right buyer and are able to explain Northern Cyprus and their projects correctly, they can achieve their targeted sales.
If you have any questions about investment in Northern Cyprus during this process, you can always write to us via live support.
KIBRIS EMLAK MERKEZİ
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