Investment Potential on Student Accommodation in North Cyprus
Investment potential on student accommodation in North Cyprus. THANKS TO recent investment and improved infrastructure, especially within the education system, North Cyprus is fast becoming a favourite hotspot for international students and not just those on vacation. There are eight well-established universities in the North enticing budding lawyers, entrepreneurs, marine engineers, naval architects, aviators and all manner of other exciting wannabe professionals to graduate here from all over the world. In turn, with an annual intake of up to 50,000 students, North Cyprus is potentially the next great hotspot for the student property investor.
Needless to say, with so many international students flocking to the North the greater the demand for independent student accommodation. Whilst the universities offer a reasonable level of campus-based accommodation, rooms are restricted in number presenting the property investor with a profitable overspill of prospective tenants. Plus, halls of residence tend to be for ‘fresher’ (or first-year students) with the majority looking for alternative places to live to see out their final couple of years of study. If you do the maths, that’s literally thousands of second and third-year students looking for off-campus accommodation and as such providing a property investor with the prospect of guaranteed term-time rental income.
Of course, many international students will only financially commit to the duration of the academic year, using their holiday periods to visit family and friends back home – but this doesn’t have to mean a break in rental income. With the right property, especially one with holiday-let potential, any investment could easily yield a decent return all-year-round, not to mention the possibility of a very healthy resale profit for the future.
Property prices in North Cyprus are currently extremely favourable in comparison to many Mediterranean areas, so now is definitely the time to snap up some real bargains. What’s more, politically both sides of the island are working towards unification which in turn could lead to a significant spur in economic development and a hike in property prices, especially in the North which remains largely unspoiled by commerce and tourism. So for rental and resale potential alike, North Cyprus is where the astute investor should be looking to buy.
So to all you savvy buyers thinking of adding a student property to your investment portfolio, North Cyprus can throw in 1) bargain prices 2) great profit potential and 3) up to 50,000 students for free!
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