Buying Property in Northern Cyprus a Sound Investment? It depends on your goals whether it’s rental income, holiday lets, or capital appreciation, and is more than probable a sound investment rather than countries in the region of the Mediterranean like Turkey, Egypt, Morocco, Dubai, Spain, Portugal, Greece, or Malta. The northern part of Cyprus, known as Northern Cyprus, has been established for only 39 years in November of 1983. This was a declaration of independence from the Republic of Cyprus, by the Turkish Cypriots' Parliament. Since then North Cyprus has not been recognized by any country other than itself. Over the years North Cyprian has been almost left isolated from the rest of the world without direct trade and direct flights. Nevertheless, this small northern part of the island has been able to grow independently and organically in various sectors such as tourism, casinos, education, IVF treatment, etc.