Cyprus Investment Reviews - Investing in North Cyprus Property

Posted by Tim Martins

September 12, 2008

by Tim Martins

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.

You can find almost everything in North Cyprus and apart from the climate you also have lower all round prices, an ancient culture, very amicable locals and a safe and secure environment, making this the ideal place for property investment.

If you are just looking for a quick return or even a long term investment, you need look no further than purchasing a villa in Northern Cyprus. You will be surprised on the amount of development that is still going on there and this alone will give you the confidence you need. The smartest way to make money is through buying off-plan and that way by the time it has finished in about 18 months, you will have already made a big profit.

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.

As the new build market takes off and continues to grow, the resale market takes a bit of a bashing, so you need to be ready to pick up a few bargains as a good long term investment option. An average 3 bed, 2 bath villa with pool and sea views can be picked up for as little as 120.000 pounds sterling. Always offer about 15% under the asking price and you will be surprised at just how many people will go for it.

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