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Northern Cyprus https://www.alliance-cyprusproperty.com

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Famagusta: A Historic City with Investment Potential 

Famagusta, situated on the eastern coast of Cyprus, is a city steeped in history and teeming with opportunities for forward-thinking investors. Famous for its iconic medieval architecture, such as the Lala Mustafa Pasha Mosque and ancient Venetian city walls, Famagusta offers a unique blend of cultural charm and modern growth potential. Whether you’re drawn to its rich heritage or its emerging real estate market, this city is an investment gem in the Mediterranean. 

Why Invest in Famagusta?

Tourism Boom Tourism in Famagusta has witnessed a steady 20% growth over the past five years. The increasing influx of travelers has driven demand for vacation rentals, boutique hotels, and luxury resorts, making it an excellent opportunity for tourism-related investments. 

Affordable Property Prices Real estate in Famagusta is remarkably affordable, with prices 30-40% lower than those in Southern Cyprus or other Mediterranean hotspots. Whether you’re looking for a beachfront villa or a city-center apartment, the cost-to-value ratio is unparalleled. 

Attractive Rental Yields Investors can expect rental returns averaging 6-8% annually. Coupled with predictions of property value increases of 10-15% per year—especially if reunification discussions progress—Famagusta promises significant financial gains. 📈

Prime Strategic Location Famagusta’s proximity to both Europe and the Middle East positions it as a vital hub for trade, tourism, and international business. Planned infrastructure projects, such as expanded ports and modernized roads, are set to enhance its connectivity even further. 🚢✈️

What Foreign Investors Should Know

Property Titles: Ensure secure titles, such as Turkish Title or TRNC Title, by consulting legal professionals before purchase.

Tax Considerations: Be mindful of associated costs, including VAT (5%), Stamp Duty (0.5%), and Property Transfer Fees (3-6%).

Ownership Rules: Foreign buyers can purchase up to 5 donums (approximately 6,689 m²) and may benefit from attractive residency incentives.

Currency Advantage: Real estate transactions often use GBP or Turkish Lira, offering favorable exchange rates for international investors.

Future Growth Prospects

Famagusta’s real estate market is on the cusp of a significant transformation. Experts of Alliance-Estate predict a property boom fueled by reunification efforts, tourism expansion, and enhanced infrastructure. With such potential, now is the time to secure your stake in this vibrant and evolving city.

Call us now to see the best property in Famagusta +905338334177

Or contact throgh the web www.alliance-cyprusproperty.com