After Thursday’s referendum, it became clear that Britain is leaving the European Union. This means that the British pound is dropping in value. In North Cyprus the currency for buying a property is in British pounds, and when the value of the pound now drops it immediately becomes much cheaper for us Swedes to buy property here.
We have spoken with a Swedish real estate agent in North Cyprus, who has already noticed the difference in housing demand.
“North Cyprus has for years been an attractive destination for Swedes who want to buy property abroad. For each year we get more and more Scandinavian property buyers in North Cyprus. After the UK now announced that they will leave the EU cooperation, our office at Norra Cypern Fastigheter has received lots of phone calls from housing speculators, mainly from Sweden, but also from other Scandinavian countries. Britain leaving the EU will benefit the housing market in North Cyprus further.”
Experts say, however, that this golden opportunity will not last forever, but as soon as the turmoil has subsided, the pound will rise again and return to high levels. So for those who are interested in investing in a property in North Cyprus this is the perfect time.