Developer Reveals Which Foreigners Most Often Purchase Real Estate in Northern Cyprus

The chairman of the board of directors of one of the largest Israeli-origin construction companies has disclosed which foreigners most frequently buy real estate in Northern Cyprus. Contrary to rumors, Israeli citizens are claimed to be at the bottom of the list.

Responding to accusations that Israeli companies "bought and built tens of thousands of acres of land in the TRNC," businessman Shimon Aikut, who holds citizenship in the Republic of Turkey and the Turkish Republic of Northern Cyprus, countered the claims. According to the entrepreneur, among foreigners purchasing real estate in Northern Cyprus, citizens of Iran, Russia, and European countries top the list.

The businessman of Jewish descent stated that only 105 out of 3,500 homes built by his company, particularly in the Iskele region, were purchased by Israeli citizens. In addition to Iranians, Russians, and Europeans, citizens of Turkey have recently shown increased interest in real estate in the TRNC.

Asserting that the Turkish Republic of Northern Cyprus is rapidly developing, Shimon Aikut noted that if these growth rates are maintained, the country will become a global focal point for real estate investments.

Foreigners, including those buying real estate in the Turkish Republic of Northern Cyprus, play a significant role in promoting the country, the businessman emphasized.

He also highlighted that the recognition of the TRNC as a separate state with equal sovereignty will have positive consequences not only for the island but for the entire region.