THE FORMULA OF SUCCESSFUL INVESTMENTS
IN REAL ESTATE IN NORTHERN CYPRUS
- All (26) I am buying a house(7) New apartment in Northern Cyprus(6) Social life(5) Inexpensive real estate in Northern Cyprus(5) Market Overview(5) Buying an apartment by the sea(4) Infrastructure of Northern Cyprus(4) Education(4) New apartment in TRNC(3) People of Cyprus(3) Company news(2) Medicine(2) Investments in real estate(2) Inexpensive real estate in TRNC(2)
The investors, who have been investing in the real estate for a number of years, know the two golden factors of a successful investment: the minimum price of the object and the location of the object. However, there is also a third factor. The experienced investors are in constant search of the crisis markets or just emerged from the crisis in order to maximize the profitable purchase of the real estate. If it is possible to find a new, developing market, which is very rare today, this is a great success.
If to speak about Northern Cyprus, the market of the resort real estate now is at the very beginning of the development. Starting in 2008, the active construction of residential complexes and hotels began on the Northern part. As a rule, the new complexes are distinguished by high standards of finishing and construction. The objects are being rented out with a turn-key repair, built-in kitchen furniture, built-in wardrobes in the rooms, a conduit for installing air conditioners, a fully equipped bathroom. Depending on the type of a project, the apartment has a balcony and/or a terrace, panoramic windows, living rooms and kitchens are mostly open-plan. The infrastructure of the complex includes children's and sports playgrounds, swimming pools, cafes and shops.
For 10 years of the active construction in North Cyprus, many things have changed, however, there is still a significant shortage of new property for rent during the season, and a large deficit of inexpensive hotels. The shortage of hotel rooms is about 65% of the market.
An important feature of the real estate market of Northern Cyprus is that the foreigners are allowed to obtain the ownership of the land. According to the norms of the International Law, real estate is the land itself, not the square meters of the premises. Buying an apartment in Northern Cyprus, the buyer becomes the owner of the share of the land on which the apartment building is built.
Currently, in Northern Cyprus, the availability of land for development allows the developers to build properties in a close proximity to the sea and beaches, and that is an important criterion for the liquidity of the resort property. After all, most tourists come to the island seeking for the sun, the beach and the sea. If the property is located in the city, then the distance to the beach will be about 10-15 minutes by car.
In addition, to all the benefits of the Eastern Mediterranean resort market with a long season of 9 months, the Northern Cyprus market has the following advantages:
- Three taxes on the purchase: VAT 5%, the stamp duty 0.5%, the title - 3%.
- The rise in prices for new real estate objects is 10% per year.
- Individual payment plans.
- Installments at 0% to 50 months.
- The first installment is 30% of the value of the property (for the projects under construction).
- The ownership of the land.
- Visa-free entry.
More information on the long-term and short-term rental income, the growth in property prices, guaranteed rent in Northern Cyprus, you can read here.
- Investments in real estate
- Inexpensive real estate in Northern Cyprus
- New apartment in Northern Cyprus
- I am buying a house
- Infrastructure of Northern Cyprus
- Buying an apartment by the sea
Come to Northern Cyprus and make your evaluation of the property quality and infrastructure, get professional consultation on purchase of property in North Cyprus