ESENTEPE
A Rising Star in Real Estate Investment

Esentepe, a serene village town located on the northern coast of Cyprus, is rapidly emerging as a prime destination for real estate investors. Nestled between the majestic Beşparmak Mountain (Five Finger Mountain) and the azure Mediterranean Sea, Esentepe offers a harmonious blend of natural beauty and modern amenities.

Historical and Cultural Significance:

While Esentepe might not have the ancient allure of some other Cypriot towns, its charm lies in its pristine landscapes, traditional homes, and the warmth of its community. The town’s coastal location provides breathtaking views of the Mediterranean, making it a favorite among nature lovers and peace seekers.

Why Invest in Esentepe’s Real Estate?

  1. Scenic Beauty: Esentepe’s unique location offers panoramic views of the Mediterranean Sea, making it a dream destination for those looking to invest in properties with stunning vistas.

  2. Growing Popularity: With increasing interest from both European and Turkish investors, Esentepe’s real estate market is experiencing significant appreciation.

  3. Diverse Property Options: Whether you’re looking for a chic apartment, a spacious villa, or a cozy beachfront cottage, Esentepe has a plethora of options to cater to various investment needs.

  4. Proximity to Key Locations: Esentepe is conveniently located near Kyrenia, one of the major cities in Northern Cyprus. It’s also easily accessible from Larnaca and Ercan Airports.

  5. Recreational Activities: From the prestigious 18-hole Korineum Golf Club to exclusive beach club facilities, Esentepe offers a range of recreational activities for residents and tourists alike.

  6. Safe Investments: With renowned real estate agencies operating in the area, investors can be assured of safe and lucrative investment opportunities.

Popular Areas for Investment:

  • Beachfront Properties: Esentepe’s coastline is dotted with luxurious villas and apartments that offer direct access to the beach and unobstructed sea views.

  • Mountain-view Properties: For those who prefer the tranquility of the mountains, Esentepe has properties that offer panoramic views of the Beşparmak Mountain range.

  • Golf Residences: For golf enthusiasts, properties near the Korineum Golf Club are a prime choice, offering both luxury and convenience.

Conclusion: Esentepe, with its unmatched beauty and growing real estate market, is an ideal destination for investors seeking both returns and a serene lifestyle. Its strategic location, diverse property options, and promising future make it a golden opportunity for real estate investment in Northern Cyprus.

Esentepe Real Estate Statistics for 2023

  1. Average Property Price: The average property price in Esentepe is around £ 120,000. This price can vary based on the type and size of the property.

  2. Price per Square Meter: The average price per square meter for properties in Esentepe is approximately €1,200.

  3. Rental Yields: The average rental yield in Esentepe is about 5%. This means that if you purchase a property for €150,000, you can expect to earn around €7,500 annually from renting it out.

  4. Annual Price Growth: The property prices in Esentepe have seen an annual growth of around 3% in the past year. This indicates a steady appreciation in property values.

  5. Most Popular Property Types: Villas and apartments are the most sought-after property types in Esentepe. Villas, in particular, are popular among foreign buyers looking for holiday homes or retirement properties.

  6. Demand & Supply: There’s a balanced demand and supply of properties in Esentepe. New developments are coming up to cater to the increasing demand from both local and foreign buyers.

  7. Foreign Buyer Interest: Esentepe has seen a surge in interest from foreign buyers, especially from the UK, Russia, and Scandinavian countries. The region’s natural beauty, coupled with its affordable property prices, makes it an attractive destination for overseas investors.

  8. Mortgage Rates: The average mortgage rate in Cyprus is around 2.5%. However, it’s essential to note that mortgage rates can vary based on the bank and the applicant’s financial profile.

  9. Transaction Costs: The total cost of buying a property in Esentepe, including all fees and taxes, is approximately 7-8% of the property’s purchase price.

  10. Future Outlook: The real estate market in Esentepe is expected to remain stable with a steady growth rate in the coming years. The region’s increasing popularity among foreign buyers and the ongoing infrastructure developments are likely to support this growth.

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