North Cyprus is the most beautiful part of Cyprus; it has miles and miles of unspoilt sandy beaches and breath-taking mountain views. If you compare the price of property with that in South Cyprus you find that properties sometimes only a few miles from each other, one on the South side of Cyprus the other on the North have a price differential of 2-fold. Yes, that is correct; property on the North side is on average 2 times cheaper than on the South side. Even though UK or EU passport holders can travel freely around any part of Cyprus. So, you can fly direct to Cyprus via Larnaca and stay or live on the North side.

The big question is, how has this situation arisen?

You Cannot Fly Direct to North Cyprus

Well, this is true, at present you cannot fly to Ercan, North Cyprus’s main airport. You fly to Turkey, land, wait on the airplane for 30 – 45 minutes and then continue your journey to Ercan airport, North Cyprus. This adds about 90 minutes onto the flight time. However, you can fly direct to Larnaca on the South side and as you can pass freely through any of the checkpoints between North and South Cyprus. In practice this means that you can fly direct to North Cyprus.

Mortgages in North Cyprus

This is probably the single most important reason as to why property in North Cyprus is so cheap. Can you imagine what the UK property market would be like if there was no mortgage system? In North Cyprus there is no well-established mortgage system.