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A really popular place to live at the moment in Europe is Northern Cyprus and most might say that is down to the weather there. Cyprus has an incredible 300 days of blue skies and sunshine throughout a normal year. Cyprus is the third largest island in the Mediterranean and Northern Cyprus has also become a popular place to buy villas, as prices are very reasonable and you have an excellent chance of renting it out nearly all year round due to the perfect all year round climate.
North Cyprus offers a unique package of lower year round prices, one of the oldest cultures in Europe, friendly locals, excellent security with low crime rate and don’t forget those constant blue skies. All in all you really cannot go wrong with property investment here and you are about to discover more reasons why.
Should you be considering a quick profit or a long term investment, then you will find that Northern Cyprus is the place for you. In Cyprus new villas and developments are still being built and you won’t see any cranes standing still here. If it is a quick profit that suits your needs, then just buy off plan and then 18 months later you can sell on completion, leaving you with an average 15 – 25% net 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.
Tags: cyprus
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