Interest in Northern Cyprus property has been on the rise for quite some time. The region is beautiful, with wonderful sandy beaches and the exquisite mountains of Kyrenia. There are even strict rules to limit the construction of high-rise apartments in order to preserve the natural beauty and allow Cyprus to retain its natural charm. With several new developments being completed and some more on the way, there has never been a wider and better range of properties available in North Cyprus, or a more perfect time to invest.
Property in North Cyprus is constantly becoming an active investment destination in the Mediterranean as they are turning North Cyprus into a wonderful holiday resort. Despite an increase in property costs, the region is still much cheaper than southern Cyprus, Portugal and Spain. Due to the lack of development, services in the region are still cheap. A large amount of funds are being pumped into Northern Cyprus to expand its tourism sector to match that of Southern Cyprus.
So how do you find a suitable property in Northern Cyprus and determine if it is right for you? Many people struggle with this problem so here are some tips based on my experience to help you buy property in Northern Cyprus.
Do your research online
Once you are thinking of buying any type of property in Northern Cyprus or anywhere else, you should always do a thorough research on all the options available online just to get you started. Most of the North Cyprus properties have websites with the location of the development, site maps and floor plans, which is only part of the story. You will also be able to find online property forums in Northern Cyprus where genuine buyers compare their experiences buying a particular development company. You will be able to ask questions to determine which developers are best to work with. Another thing that you will also find are independent websites that provide independent reviews on Northern Cyprus developments.
Choose your region
Northern Cyprus is an exquisite country with many distinct areas, each with their own specific appeal. If you are buying a villa for yourself, choose the environment that you like best; Would you rather walk to a beautiful sandy beach or a mountainside spot close to nature and overlooking the ocean? Make a list of what you like best, as well as the regions that interest you, and then continue on your way from there.
Take a trip to Northern Cyprus
At this level, a hotfix inspection trip is required and can be arranged by the developer. Equipped with your list of areas, you can spend the first few days just driving around to see and feel your sights. You need to see for yourself which developments are actually active with residents or which are empty or half finished. You should also visit local real estate agents and find out more about properties in your desired areas.
If you want to buy a property in Northern Cyprus that you can move into immediately, consider reselling recently completed properties. Your property must be fully complete with all utilities, small issues resolved, and in excellent condition. Second-hand homes are not like new-build homes; where your money is immobilized for a few years without any return. Resale properties can be lived in immediately or rented out once you receive the keys.
Get some pro tips
Buying any type of property is a big financial commitment, so don’t be forced into any contracts. Always hire your own independent lawyer to advise and follow up on your behalf, get one that is not one recommended by a real estate developer. Another important factor in purchasing a property in Northern Cyprus is obtaining and using a qualified lawyer. A competent lawyer will look out for his best interests when buying a property in Northern Cyprus.
Northern Cyprus is the place where two worlds meet; the ancient and the modern, where new services can be accessed in a matter of minutes from ancient ruins. This region of Cyprus has a wide range of properties available for investment and includes villas, residential houses and holiday properties. These properties are in high demand from both Cypriots and international investors.
