Real Estate

How to Invest in North Cyprus Property

Story Published on September 22, 2008 ⋅  Email this Story ⋅  Print this Story ⋅ Post a comment ⋅

If you are looking for Europe’s current hot spot to set up home then you will need to head over to Northern Cyprus, which boasts more than 300 hundred sunny days per year. Cyprus itself is a fairly large island in the Mediterranean sea and does not seem to have felt any effect from the current economical crisis that has a grip on the rest of Europe. Villa investment in Northern Cyprus continues as it comes to a halt in the rest of the continent and “buy to let” seems to be the answer as people just love Cyprus and it’s almost perfect all year round climate.

North Cyprus offers a unique package of lower year round prices, one of the oldest cultures in Europe, friendly locals, excellent security with low crime rate and don’t forget those constant blue skies. All in all you really cannot go wrong with property investment here and you are about to discover more reasons why.

Northern Cyprus is ideal for both long and short term profits, so you need not look any further for your next property investment. I have been to Spain recently and was shocked at the amount of developments just standing still, whereas in Cyprus you will see new cranes being set up every week. For you “quick profit and I’m out of here” investors, I would recommend just buying off-plan and selling on completion and this would result in net profits of up to 25%.

A few years ago I only had a UK mortgage and decided to invest in a holiday home in Cyprus. I no longer have a UK mortgage thanks to that investment and by being able to rent it out for an average of 14 weeks per year. Apart from the appreciation value added to my investment, I have also covered the monthly mortgage payments with the monthly rental income. The truth is that I have manged to buy 2 more villas over the last couple of years, which is what helped me to clear my UK mortgage.

A booming new build market normally makes way for bargains to be found in the second hand property market. I have seen villas with 3 bedrooms, 2 bathroom and a pool for about 120.000 pounds sterling and all that with a sea view. I see this as a good long term investment and a good tip is to always offer about 15% less than the asking price as these guys like to haggle a bit.

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