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Northern Cyprus Property.

Northern Cyprus Property

Lifestyle, Return - Low
Northern cyprus is often described as the most beautiful and culturally diverse place in the Mediterranean. Benefiting from long golden sandy beaches, warm sea temperatures and a climate to rival any holiday destination are the world – Northern Cyprus is an unspoiled gem in the med.

Due to the history of Cyprus, dating back as a former Crown Colony, the island has retained a vast array of features which British citizens have grown accustom used to: English language is one of the main dialects; Straightforward planning and development processes; Driving on the left; Property transactions are in Sterling in order to attract inward investment (A policy of the North Cyprus Government).

Although relations between Turkey and Greece have become increasingly stable in recent times, the investments and lifestyle properties that Davenport offer include title deed to the land on which the property sits on. This merely ensures that any property that we recommend comes with the reassurance that under no circumstances can one receive any hassle from a former dispute over the land.

Because Northern Cyprus is less developed than its counterpart in the South, property prices in the region are thus lower. Overall, the cost of purchasing a property of similar standard to the South is around 30% lower in the North. But with world class golf courses, yacht clubs and 5 star resorts being built in the region – this may not be the case for long!
North Cyprus offers some what we would view as ‘extreme’ value for those looking to make a holiday home investment at a low point in property. This is due to the fact that the political issues in the area are still under negotiation.

Income

There is the potential of local rental and holiday lets, for these properties we suggest this should be seen as a ‘bonus’ and not relied upon, although both the long term rental and holiday rental markets appear to be getting stronger year by year.

Capital Growth

Although people have been saying for at least 10 years that it won’t be long before the political situation is resolved, we truly believe with Turkey’s strong desire to join the EU that the situation with Northern Cyprus being an unrecognised state will soon be settled. A new round of talks is currently underway and has high expectations to succeed.

However, it is worth noting that when we say ‘soon’ that could be months to a couple of years.

With any lifestyle property the primary function should not be quick capital return but providing the best quality lifestyle and the most you can get for your £ possible. When it comes to this objective, we purely believe Northern Cyprus is fully capable of delivering both of these objectives.

Exit

The only viable exit plan is on sale of property, and would therefore depend on the appetite of the market and consequently number of people buying property in North Cyprus.

Making a purchase of this magnitude is expensive with many ancillary costs attached to it. Reselling would require marketing costs as well as more legal fees.

Security

As the owner of the title deed, security is in outright ownership, you must however ensure that you are fully aware that the land title is undisputed and ideally pre 1974 clear Turkish title land. Our experienced lawyers can assist you in all land title matters.

Below are just a few selected properties that we have available. You will see that Northern Cyprus truly does offer outstanding value for money. Else where within the Mediterranean  you may expect to pay 2, 3 or 4 times the price for comparable properties.

Please either call or use the form below to enquire further, we will then match your personal requirements with your ideal property. Trips can be arranged for those wishing to visit the area to view properties.

Investment video in production.
Tourism in Northern Cyprus
Many investors have understandably overlooked Northern Cyprus in the past, however with many areas around the Mediterranean becoming either economically or politically unstable, is potentially leaves Northern Cyprus as a Tourism hotspot.  Again, we have provided independent links for investors to see how the Tourism industry has been steadily growing over the years.

Daily Mail – Northern Cyprus has it all – Click here

Itchy Feet Magazine – Don’t tell everyone… – Click here

Time Out – 10 great things to do in northern Cyprus – Click here

http://wikitravel.org/en/Northern_Cyprus

http://www.gonorthcyprus.com/

http://www.northcyprusonline.com/

http://www.tripadvisor.co.uk/Tourism-g190378-Kyrenia_Kyrenia_District-Vacations.html

http://www.cyprusholidayadvisor.com/

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