NORTHERN CYPRUS
PRIME RESIDENCES

Cyprus offers strong investment opportunities with favorable taxes and a growing property market. The stable Euro supports steady economic growth, it ideal for real estate investment.

◼️GDP per Capita: In 2023 the GDP per capita stood at $34,956 for the whole island and approx. half of it for the Northern part.

◼️Economic Growth Rate: An 8% increase in 2023 from 2022. The GDP per capita in Cyprus was forecast to continuously increase by 23.1% between 2024 and 2029.

◼️Overall Economic Stability: The Cypriot economy benefits from the stability of the Euro, making it one of the most secure currencies in the region

Strategically located at the crossroads of Europe, Africa, and Asia, Cyprus is a top travel destination. Tourism plays a vital role in its economy, driven largely by visitors from UK.

◼️Ranking: Ranked 30th in the world travel and tourism development index report 2024.

◼️Tourism: Travel and tourism-related activities generate over $4 million - approximately 20% of Cyprus GDP. Most of the visitors are from the United Kingdom

◼️Location: Situated at the crossroads of three continents – Europe, Africa, and Asia – Cyprus occupies a strategic place in the Eastern Mediterranean region. 

Cyprus boasts strong connectivity with its major airports and nine seaports, including Limassol, enhancing international travel, tourism, and cargo management.

◼️Number of Airports: The Ercan Airport in Lefkosa is close to every spot in the small island. In addition you have Airport Larnaca International and Paphos International in the southern part of the Island. Larnaca International Airport connects the city to 53 global destinations, making it the primary gateway for international travel on the island.

◼️Number of Seaports: Northern Cyprus has 2 Seaports - Famagusta Port (Gazimağusa Limanı) and Kyrenia Port (Girne Limanı). The island has in total nine major seaports, with Limassol Port handling most of the island's cargo, container traffic, and cruise ships, while Larnaca Port is mainly used for oil and gas services.

◼️Strategic Sea Network: Sea ports, like Limassol and Larnaca, are key trade hubs in the Eastern Mediterranean.

The real estate market in Northern Cyprus is booming, with rising property values and strong rental yields, driven by demand for luxury beachfront properties. The market is expected to keep growing steadily.

◼️Market Trends: Apartment price index is up by 13.9% in Q1 2024.

◼️Market potential: Cyprus real estate market grows steadily with a compound annual growth rate (2024-2029) of 3.57%. Cyprus' real estate market is experiencing a surge in demand for luxury beachfront properties from international investors.

◼️Property Value: House prices increased by 3% and apartment prices by 11% in certain areas.

◼️Rental Yields: Average rental yield of 5%.

Investing in Cyprus offers key advantages, including one of the EU's lowest corporate tax rates and attractive incentives, making it ideal for global investors.

◼️Corporate Tax: One of the lowest corporate tax rates in the European Union at 12,5% on business profits. 

◼️Real Estate Taxes: 20% capital gains tax.

◼️Tax Incentives: Free transfers on property between parents to children. 

◼️Investment-Friendly Policies: An individual selling his private residence may deduct a lifetime exemption of $94,214.

◼️Cyprus Investment Visa: Secure a visa for Cyprus by making an investment of $330,000.

◼️Dominant investors:The main investors are US, Russia, UK and Middle East

With a Prime Residence from Titans RE you can take advantage of the growing demand for luxury beachfront properties from international investors and the higher real estate prices in neighbor countries like Türkiye.

Cyprus ranks high on the Human Development Index, offering ideal living standards. Free education and a low crime rate make it a secure and attractive place to live.

◼️Healthcare: Cyprus provides emergency care to short-term visitors at government hospitals, while permanent residents benefit from a two-tier system. Cyprus ranks 21st globally for health and 24th out of 195 in the Healthcare Access and Quality (HAQ) Index.

◼️Education: Primary and secondary education in Cyprus are mandatory and free. Instruction in the north is in Turkish and in South mainly in Greek, with additional languages like English, French, and Russian offered in middle and secondary school.

◼️Safety: Low crime rate, scoring 53 out of 100 on the 2023 Corruption Perceptions Index.

◼️Living Standards: Cyprus is ranked within top 30 countries in the world by Human Development Index (HDI) score.

The island offers diverse recreational options, from stunning beaches to scenic hiking trails, blending contemporary comforts with Mediterranean heritage for a dynamic lifestyle.

◼️Cultural Richness: Cyprus is a cultural mosaic, blending Turkish, Greek and Middle Eastern influences.

◼️Recreational Activities: Cyprus offers diverse recreational activities, from relaxing on pristine beaches and engaging in watersports to exploring scenic hiking trails.

◼️Lifestyle Amenities: Modern conveniences include the maritime lifestyle and a famous casino sub-culture - blended with Mediterranean lifestyle of good food, music and happy moods. This ranges from exploring ancient ruins, Byzantine churches, beaches or even buzzing nightspots.

Cyprus enjoys abundant sunshine, ideal for year-round outdoor activities. The island is home to a diverse and multicultural community. 

◼️Weather: Average temperature of 26°C and the coldest is 13°C in January. Approximately 300 days (!) of sun annually implies year-round outdoor activities.

◼️Local Community: The Cyprus island is home to diverse communities, where Turkish Cypriots, Greek Cypriots, and various expatriate groups from UK, Russia and other European countries contribute to the island's multicultural environment.

◼️Population Size: Cyprus has a population of 1.3 million people (approx. 1/3 in Northern part), with a median age of 38.2 years.

◼️Expat-Friendly Environment: The coastal cities boast a highly international and cosmopolitan atmosphere due to the large numbers of expatriates.

◼️Language: The primary language spoken in Northern Cyprus is Turkish, in the rest Greek, followed by English, and other languages.