Your advantage: The prices that apartments, villas, and other property are selling for in North Cyprus are very competitive. Each company is eager to sell the property, therefore you will get the best price possible.

Choose a property type that fits you

North Cyprus Apartments

If you are looking into investing in property that provides you with constant income, then renting out an apartment is the best way to go. Not only will you gain extra income, but you will also have a place to go for a short vacation. Many people invest in an apartment as a nice getaway during the colder season, and then they rent it out during the summer. Other people purchase the apartment with the idea of selling it, but they rent it out while the apartment is on the market. The income provided from the apartment renters can be enough to purchase a very nice vacation home.

The typical studio apartment in Cyprus sells for 25,000 sterling pounds. However, by spending 70,000 pounds, you can upgrade to a penthouse with a private patio. The prices for apartments in the other Mediterranean countries are much higher than those in Northern Cyprus. This is due to the fact that North Cyprus is fairly new to the property market. Purchasing an apartment is fairly simple. The first step is to find a real estate agent. Make sure it is someone who has had previous experience with apartment purchases, and they are respectable in the community.

The wonderful option about having an agent is that they have access to all of the apartments for sale in Northern Cyprus. They may even know of apartments for sale that are not listed for the public to see. Also, if you are planning on purchasing the property without viewing it in person, the agent can view the property for you and then relay back to you what was seen. Since you will not be able to find a real estate agent in Cyprus in person, the internet is your best bet.

Try to find a respectable independent rental company because they often have the best deals. However, those with an apartment of higher value will often list the property with a well known real estate company. This is due to the fact that more people are likely to find the property

After you have found the property that you want to purchase, your agent will negotiate a price for you. This is also a good time to hire a lawyer. The lawyer can look over all of the paperwork to make sure it is considered legal in Cyprus. While you can hire one from your native country, it is much more convenient to hire one in North Cyprus. The Cypriot lawyer will be much more up to date about the law in Cyprus. The job of your lawyer is to finalize the purchase paperwork. If you would prefer for them to negotiate a price, instead of the real estate agent taking care of it, then you can request it. It is also the responsibility of the lawyer to make sure you have been accepted by the Council Ministry and to make sure that the deed has been transferred. If you have not previously owned land in Cyprus, then a Power of Attorney will have to be appointed who is a citizen in North Cyprus. Until you have been present in the country for a certain amount of time, the deed can be transferred into your name. Your lawyer can also act as your Power of Attorney.

The great thing about the property being so new is that the prices are extremely low. However, the prices are starting to rise as the tourist statistics increase so now is the time to invest. Also, the homes that were built by the Greeks are not as sought after as the land without the homes. There is still a chance that the Greeks could come back and claim the property if the country were to be reunited.

If you are not wishing to invest very much in property there are still apartments available for less than 25,000 pounds. However, the average size of an apartment for this price is one with only one bedroom. This would be a great investment for people who are wanting to get started with an investment in North Cyprus. It is also a great idea for those who want a place to stay during the summer months but do not need a high end style of property.

No matter what kind of property you invest in, the hospitality of the residents in North Cyprus will leave you speechless. While walking down the road they will greet you as if you are an old friend. The climate is also wonderful with a beautiful ocean around the outer rim, and a lush landscape of mountains in the middle. It is no surprise that tourists are choosing North Cyprus over other Mediterranean destinations.

Homes in Northern Cyprus:

While the atmosphere and landscapes of North Cyprus are also very attractive, the homes being built are as well. The homes are very unique and modern, which is surprising compared to the other characteristics in Northern Cyprus. There are all types of homes depending on the style or necessities that your family requires. For those with a large family there are large modern stucco homes with a huge backyard patio and a pool. If you have a smaller family then a villa may be more appropriate. They are usually located in a small developments with other villas and depending on your price range, you can either have a private pool or you can use the public pool.

The land in North Cyprus is very valuable and many people purchase the lots without homes built on them. They then built a very attractive house and then turn around and sell the property for a large price. The option of purchasing a home “off plan”, meaning not fully developed, is popular as well. For those who are wanting the option of picking out the materials used in the home, but are not able to afford a mortgage, the off plan strategy is a great idea. The developers will usually work with the purchasers so that they can pay in installments as the home is being developed.