When one says it's over, another begins
Indeed, just when one is over, a new one begins. What hasn't happened to us since our 2015 coup attempt? Pastor Bronson incident, recurrent devaluations, Pandemic, elections, inflation, Eastern Mediterranean etc., now the Ukraine - Russia war in the geography we are in the heart of. Just when it's over, a new one begins, like an endless nightmare!
In March 2022, our country continues to experience a process that we cannot control in Northern Cyprus, especially under the influence of external factors. In addition to the existing 'devil' triangle' of 1- high exchange rate, 2- high inflation and 3- negative real interest, energy, grain and commodity prices, which have increased with the effect of the Ukraine-Russia war, will begin to show themselves, and life will become a little more difficult. . In addition to this, the fact that Russian and Ukrainian tourists and real estate buyers, who are huge for Turkey but also undeniably important for us, will not be able to come this year is not good news for the coming months.
Of course, not all news is bad either. Especially with the easing of the pandemic rules in the UK and the lifting of travel bans, I observe that especially the British and Turkish Cypriots living in the UK have started to come to the island. The desire to escape the boredom brought by the pandemic, as well as the advantages of the Sterling - TL exchange rate, indicate that this market may be very lively, especially this summer.With the easing and removal of quarantine, PCR, Antigen, etc. conditions along with the steps being taken towards normalization in Turkey and Southern Cyprus, our most important travel destinations, there will be a serious entry to Northern Cyprus from the United Kingdom, Germany and Northern European countries next summer and the increasing number of foreign real estate investors. It's realistic to expect attention...
At this point, I would like to draw attention to the increasing construction costs in our country. As the existing stock of finished flats is depleted and the increase in production prices begins to be reflected in the sales prices, it will be inevitable that there will be an increase in housing prices in the coming period. This increase will also accelerate with the sale of ready-made houses, which are generally demanded by buyers from the United Kingdom.
In addition to my usual advice to those who want to keep their money and investment in real estate, which is the 'The Safest Port', I would like to recommend the finished flats this month, in addition to the Land and Commercial Properties. Maybe the rental income is still not at the desired level, but it is inevitable that they will experience an increase in value.
In addition to the Land portfolio that I have prepared for you in the light of my current suggestions, you will find my commercial portfolios below this e-mail. For more detailed information about these and all my other portfolios and advantageous loan opportunities, please reply to this e-mail or call me, I will be happy to help!
With my love and respect,
Dengiz KÜRŞAT
Avertiss International Real Estate & Consultancy
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