Business By Alexandra Gagan / December 27, 2014 Housing market is booming, according to the Turkish Cypriot Real Estate Agents’ Union Its reported that over 17,000 foreigners have made purchases in North Cyprus over the last three years. Amongst many Scandinavians, Germans and Russians all keen to make their investment. The Turkish Cypriot Real Estate Agents’ Union stated that 2014 was the “brightest” for the property sector during the past seven years. Russians investors started investing in the real estate sector in North Cyprus after the Russian government’s decision providing that its citizens should declare their property. Thanks to state incentives offered to German tourists as of 2014, the number of Germans who purchased property in the North exceeded the number of Russian purchases in one year, all of which is great news for the North Cyprus housing market boom.