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University of South Florida M3 Center Publishing

Abstract

North Cyprus has some mixed features in terms of being a region for investment. As a de-facto state it could be seen as an extensively risky place to buy property, as any future reconciliation on the island could see the property being forfeit. Conversely, it is seen as a very lucrative area to invest, as the property values in European terms are very low. For the price of a two bedroom apartment in most places in Western Europe, the investor could buy a villa with a swimming pool in North Cyprus. Other redeeming features are the extremely low crime rate, the friendliness of the local population, combined with the idyllic scenery and unspoilt beaches; often referred to as "Heaven on Earth". This paper's aim is to bring to the forefront the exact factors to be determined by a customer in a decision to buy a second home in North Cyprus, which could be a holiday home, an investment, or both. The factors in this research study were determined within a framework of location, neighbourhood, structural attributes and price. A unique conceptual model of the purchase decision of investors was created for the research based on these four factors.

DOI

https://www.doi.org/10.5038/9781955833035

Recommended Citation

Arslan, G., & Howells, K. (2021). Factors affecting investors’ buying decision in real estate market in Northern Cyprus. In C. Cobanoglu, & V. Della Corte (Eds.), Advances in global services and retail management (pp. 1–14). USF M3 Publishing. https://www.doi.org/10.5038/9781955833035

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