The Lucrative Real Estate Market in Northern Cyprus

💰The real estate market in Northern Cyprus, especially in Iscala, is thriving with international buyers, including Russians and Iranians.

🏦The lax enforcement of EU law in Northern Cyprus attracts buyers looking to launder money.

🏛️The unofficially recognized part of Cyprus offers opportunities for concealing financial affairs and hiding assets.

🏗️The construction industry, including crypto exchange markets, benefits from the influx of funds into Northern Cyprus.

📈The rise in real estate prices in Iscala has negative implications for locals who can no longer afford homes in the area.

Who are the main buyers in the Northern Cyprus real estate market?

—The main buyers in the Northern Cyprus real estate market are foreigners, particularly Russians and Iranians.

Why do international buyers choose Northern Cyprus for real estate investments?

—International buyers choose Northern Cyprus for real estate investments due to its affordable prices and the lack of enforcement of EU law.

Is money laundering a concern in the Northern Cyprus real estate market?

—Yes, money laundering is a concern in the Northern Cyprus real estate market due to the lax enforcement of EU law and the unofficially recognized status of the region.

What industries benefit from the influx of funds into Northern Cyprus?

—The construction industry, including crypto exchange markets, is among the industries that benefit from the influx of funds into Northern Cyprus.

What are the implications of rising real estate prices in Iscala for the locals?

—Rising real estate prices in Iscala make it increasingly unaffordable for locals to buy homes in the area.

00:01Real estate agent Ahmed dman is driving into the new world of real estate in Northern Cyprus.

00:10The coastal town of Iscala, in Northern Cyprus, is attracting international buyers, especially Russians and Iranians.

02:37Money laundering and the unofficial recognition of Northern Cyprus as a haven for concealing financial affairs are factors driving the real estate market.

03:15The construction industry and crypto exchange markets are also thriving in Northern Cyprus.

04:08Locals in Iscala are facing challenges due to the rising real estate prices, making it difficult to afford homes in the area.