Posted 13 апреля 2023,, 11:09

Published 13 апреля 2023,, 11:09

Modified 13 апреля 2023,, 12:49

Updated 13 апреля 2023,, 12:49

Northern Cyprus has turned into a Klondike, but it's better not to live there

Northern Cyprus has turned into a Klondike, but it's better not to live there

13 апреля 2023, 11:09
To earn 2000 percent now on real estate in Northern Cyprus, it was necessary to buy land there four years ago.

A curious trend was noted by network analyst Mikhail Zhukhovitsky, having studied the cost of real estate in Northern Cyprus. It turns out that compared even with 2018-2019, when he visited there for the penultimate time and today, the difference in prices turned out to be just fantastic. If before this half of the island, actually occupied by Turkey, was considered almost the cheapest for relocators, including Russian ones, now the situation has changed radically, and those who moved here earlier turned out to be a huge gain.

"There was nothing there then," the author writes. - Just endless fields and spot real estate of Turks in villages by the sea. And a couple of cheap hotels. Then I recommended friends with money to take land there. I received very standard answers:

- muddy territory

- criminals are holed up

- planes fly only with a transfer in Turkey

- there is no infrastructure

- and they'll take everything away from us there.

This was the answer of people for whom taking 1-2 million dollars out of the nightstand was no problem at all."

So, for some four years, land in Northern Cyprus has risen in price by thousands (!) percent, so it makes a profit much greater than any other investments and cryptocurrencies.

The author reports that now there are "wild queues" at the sales offices of Turkish developers who work in this country, and mainly from the countries of the former USSR. Everyone wants to "snatch a piece of this amazingly miserable place in the future".

At the same time, the author is sure that it is impossible to invest in real estate on the island in any case, since there is no plan for several dozen small developers, and soon the island will be polluted with human beings, tall and tightly standing to each other. And this is where all the natural attractiveness of these places will end.

For his part, Zhukhovitsky advises paying attention to Egypt, to that part of it that stretches from Hurghada, popular with Russians, to the southern borders of this country, and preferably land on peninsulas, real estate on which in all maritime countries is becoming more expensive much faster than in other places. He himself has bought several objects there and is planning more.

But he does not recommend building there, because buying and holding good land is always much more profitable than selling real estate.

Zhukhovitsky predicts that in ten years a vast enclave of rich people will appear in Egypt. And given the fact that local builders work, unlike Turkish ones, conscientiously, there will be new blooming mini-cities in which foreigners will live: "There is no point in taking apartments in Egypt. Only land or houses with land in unique places."

"There is a giant paradox in Egypt: only beggars go there from the CIS. Or, on the contrary, very rich people who take villas for 2-5 million in El Gouna.

There is no other information about Egypt. And the way they are being built there now has no analogues in warm climatic zones.

The situation is like with Northern Cyprus: in this place there is already a battle of developers for every piece of land. There are a lot of rich people in Cairo and the demand for something decent is wild. But the Germans and the Swiss are buying up land on the Red Sea. Somabay is 95% bought by Europeans. 45% Germans, 15% Swiss, 10% French and so on..."

One of Zhukhovitsky's readers confirms his conclusions on his own experience:

"I'm wintering in Charm for the third winter. I have an Italian territory with Italian owners. Just paradise - 15 palm trees and the purest sea in front of the windows. But as I leave the fence and the guards start shaking from all this mess. October -May. Of course, paradise is beyond the fence, yes. Inside, Russian and Italian speech, mostly. Cleanliness and order. Electric cars and an electric car wash seen for the first time".