Thousands are the Russians and Iranians who arrived in the first nine months of 2023 in the occupied territories, bought properties and started living there, according to information published in the Turkish Cypriot press.
As reported by the Press and Information Office, the Turkish Cypriot Diyalog reports that the Russians and Iranians are the ones arriving in the occupied territories in greater numbers.
Specifically, he writes that the number of Russians who came to the occupied territories in the first 9 months of this year was 38,727. At the same time last year, that number was 20,241.
At the same time, the t/c media notes that like the Russians who came to the occupied territories, the Iranians also bought properties and started living there.
"The number of Iranians who came to the occupied territories in the first 9 months of this year was 32. The number of arrivals in the corresponding period last year was 497."
Ukrainians and Israelis complete the «καρέ»
After Russian and Iranian citizens, Ukrainian and Israeli citizens stand out in real estate markets, Diyalog reports.
In particular, he notes that the number of Ukrainians who came to the occupied territories in the first 9 months of the year was 7,360, adding that although almost half of them came to work, the majority of them escaped the war and bought property on the island.
It is also reported that a significant portion of the 1.158 Israeli citizens who came to the occupied territories in the first 9 months of the year bought homes in the Trikomos area.
Real estate prices in the occupied areas are more expensive than in the free areas
Additionally, focusing on the issue of real estate prices, Diyalog describes that real estate prices in the occupied areas are higher than real estate prices in the free areas of the Republic of Cyprus and notes that "they are suitable for foreigners (buyers)".
According to the newspaper, especially in the area of occupied Trikomos, real estate prices have doubled or tripled in the last year. While a year ago the price of a one-bedroom flat was around £65.000, it is now over £150.000.
He also reports that real estate prices are also increasing rapidly in the occupied areas of Karavas, Lapithos, Vasileia, Bela Bais, Kazafani and Agios Ambrosios. “However, this price increase does not create a problem for foreign buyers. Some buyers even state that the prices are very affordable," the newspaper notes.
5.000 new houses will be built in Trikomo
The paper also mentions estate agents reporting that demand for villas, especially those close to the sea, has increased greatly, while a 4-bedroom villa, which until last year was around £250,000, recently found a buyer for £1,550,000.
It is reported that approval has been received for approximately 5 thousand new housing projects in Trikomo "which is called the 'shining star' of 'northern Cyprus'" and construction will be completed in 2024.
Source: Press and Information Office