Number 1 Overseas Property Investment Location for 2007: North West Cyprus

When one thinks of property investment in Northern Cyprus the market is dominated by apartments in Kyrenia or villas in the likes of Esentepe with its championship golf course and Tatlisu or Bogaz with their incredibly affordable property bargains – all of which are located in North East Cyprus and all of which offer good but less than amazing returns on investment.  But suddenly certain dramatic but relatively secret changes and developments are afoot and there has been a property boost for North West Cyprus – could this part of the island become the hottest property investment location in 2007?

It seems that property investors seeking an emerging market within a bleeding edge market need to make a note of the name ‘Karsiyaka’ in North West Cyprus which will shortly become synonymous with the number one location for overseas property investment returns.

How can we be so sure that Karsiyaka will become a popular overseas property investment location from 2007?

Because the majority of land in this as yet untouched (and we really do mean untouched) part of the island has been allocated for the development of luxury (and we really do mean luxury) hotels and holiday resorts rather than cheap apartments, no star holiday villages or mile upon mile of random concrete villa and retail outlet construction that’s sprouting up immediately around or to the east of Kyrenia!

Karsiyaka is considered ‘too far away’ by most local villa developers (it takes half an hour to get there from Kyrenia and half an hour over the mountain from Karsiyaka will find you in Nicosia) and remains undiscovered by the majority of holiday makers to the North of the island because at the moment it is home to little more than long, undeveloped, pristine sandy beaches, stunning mountain walks and hidden rocky coves and inlets. 

The sleepy village of Karsiyaka itself nestles into the mountainside and appears to offer nothing more than the usual coffee shop and small local market and mosque…but the beauty of the location has been noted by international developers in the know and the government and there has been a quiet, almost conspiratorial, slow, subtle but highly decisive land grab in recent months.

What’s driving the sustainable investment appeal in Karsiyaka?

When the government of Northern Cyprus recently reclassified all land on the island and gave it all government approved status - removing the need for the hysterical to worry their heads about title deeds (a little publicized fact) - the majority of land in Karsiyaka was allocated for future development for the tourism industry.  Developers who already had their hands on land in the area are still able to construct villas but the rest will be for the likes of the Jasmine Court Hotel chain (a five star chain in Cyprus) to construct the next in their series of superior resorts – and believe me certain serious hoteliers have already started clearing their sites and installing the first in a long line of temporary structures to house their dedicated team of construction workers.  Impressive plans for resorts have been posted at the edge of vast construction areas but unless you know which shortcuts and paths to take through farmers’ fields you won’t find these site until they are ready to tell you about them.

The sustainable appeal comes from the fact that there are plans to turn this part of the island into the St. Tropez of Cyprus and the plans are not dependent on the current tourism traffic. 

How can we be sure?

Because if you take a drive on past the village and greater area of Karsiyaka you pass the stunning beach and wind up and through the mountains, passing a reservoir tucked neatly into the valley and climb through untouched pastureland that is lush and verdant in the winter and dramatically striking in the sun drenched summer and all of a sudden you happen upon extreme road building activity to directly link Karsiyaka and surrounding areas to the heart of Nicosia and Ercan international airport – oh, and the road goes right past the Metehan border crossing allowing full access to Southern Cyprus and its Larnaca and Paphos international airports meaning that there are plans to attract new and direct tourism interest to this part of the island…we have our own thoughts about where the tourism traffic is going to come from based on rumours abounding in the local press and believe us when we tell you that North West Cyprus is not banking on those coming on cheap package holidays to sustain its micro economy!

Remember earlier we mentioned that the smaller local developers, local citizens and current holiday makers believe Karsiyaka is simply too far away seeing as it is a whole, whopping half hour drive from Kyrenia – well, how wrong are they now?  When the new Kyrenia bypass is completed and the hidden roads between Karsiyaka and Nicosia are finished the entire area will open up massively.

What property investment opportunities exist in North West Cyprus?

Currently investors have two main avenues to target – the first is the direct investment into the development of holiday resorts; a number of developers have land, approved plans and constructors ready to begin but they are seeking financial partners ( to learn more).  The other avenue to target is the acquisition of residential property in the area which has yet to receive any price boost whatsoever from the developments taking place around Karsiyaka.  Investors wanting to buy into the longest period of growth will move fast, others who wish to hedge their bets will wait a little longer until the market begins to move before committing to it.  AboutNorthCyprus.com offers a property finding service and investors seeking residential opportunities in Karsiyaka can put it to the test.

In the longer term the entire area around Karsiyaka will be improving, developing and expanding for many years to come and investors looking for commercial ventures could consider the establishment of anything from shops, supermarkets, leisure facilities and social amenities.

Just remember you heard about the number 1 overseas property investment location that will be North West Cyprus on Amberlamb first!

Special Reports: Property News for North Cyprus

Northern Cyprus Property Buying Guide
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Northern Cyprus a Property Investor’s Guide
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Northern Cyprus Property Investment Potential
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