Buying a House in North Cyprus
Thinking of Buying a House in North Cyprus?
If you are looking at buying a house in North Cyprus, many people advise that renting is a good first step. To understand whether you may need to get to know the country or indeed an area renting is not a bad idea. However, the one negative of this perhaps is having to move twice or signing a long term rental contract and then finding the home of your dreams immediately! If you have already done the ‘suck it and see’ rental and are still as enthusiastic about buying a home in North Cyprus, and why wouldn’t you, then you need to then weigh up the positives and negatives of what buying a property entails.
A good first step in that process is to take a look at the Kensington Buyers Guide which will give you the facts and figures relating to the property market in North Cyprus. Thankfully, buying has become much more affordable in recent years, with the start of 10-15 year mortgages and you can read more about that in a North Cyprus Mortgages and Finance article, should you require funding. For more information on the frequently asked question about the title deed situation, then please take a look at our article on Title Deeds in North Cyprus. Of course, our sales team are always available to answer those all important questions too and can refer our clients to reputable lawyers in North Cyprus.
Kyrenia and Famagusta – great investment areas
It is also useful to know when looking at purchasing your North Cyprus home that the areas of Kyrenia and Famagusta are the most popular places for those looking to make the most of their investment. Perhaps you may wish to move on in a few years and you therefore should have no problem in reselling or even renting out your property in these districts. They are both areas that have seen the most growth in capital on property purchases in North Cyprus over the last 10 years and are still areas with the most growth potential.
Of course, and even though you may have a budget, you could still be pleasantly surprised at what your money can buy, should you choose to look outside of these areas. At times, it is entirely possible to purchase a North Cyprus villa property, with the same amount of budget as you would need to purchase a luxury penthouse close to the sea. But, being as close as possible to these areas is a must if you wish to see an increased chance of seeing better capital growth and a quicker resale turnaround. Always talk to your Kensington Properties Specialist about the pros and cons of your preferences. Your requirements are always your first priority, perhaps needing to be close to schools and universities in North Cyprus, major working areas or indeed, somewhere away from the hussle and bussle.
Wealth of Choice for your personal investment
If you are buying a home in North Cyprus for rental or capital growth then of course, your requirements will be driven mainly by location, so the distance to international universities and schools will be a great starting point. Particularly in Kyrenia and Famagusta, you will find an abundance of educational facilities with thousands of students, the majority of which will need a place to rent during their studies. You may wish to just rent your North Cyprus property for holidays, and again, your requirements will be driven by locations close to the beaches which have resort facilities. Kensingtons North Cyprus beachfront project, Thalassa Beach Resort & Spa, located in Bafra, close to Famagusta, is one such project which is ideal for investors. With an exclusive beach and superb facilities and amenities, it provides a wide range of property types to choose from at competitive prices with generous payment plans.
If you are a golfing fan then the area of Esentepe, close to Kyrenia is an ideal choice, with the best golf course in North Cyprus – Korineum Golf & Beach Resort – an excellent standard of course featuring 18 holes set against a beautiful Mediterranean backdrop. You can also find that the Karpaz Gate Marina, further along the east coast is also a draw for those within the boating and sailing community. This is another recent addition to the increasingly modern features and facilities in North Cyprus.
Location, location, location
The history of Kyrenia and its surrounding areas, featuring Bellapais Abbey, Girne Castle and quaint harbour area, also means it is a wonderful place for tourists. If you are therefore looking at an investment in the North Cyprus holiday market, then this area means great rental investment potential. Kensington can provide some wonderful homes in North Cyprus in this particular area, with a range of property from 1 bedroom apartments to 8 bedroom luxury villas.
There are many things to think about when looking to invest in the North Cyprus property market, but we would say that wherever you choose, it should be down to your needs and requirements. Don’t let your imagination run wild when you see your first property with a beautiful pool! Take your time, think hard about what it is that you really want and what suits your needs – there can always be a compromise but your criteria is important. If you are not sure then renting is well worth considering before you buy in North Cyprus. Kensington can help you with that too!
As always, our sales team are here to help you find the right property for you and will work with you to understand your wishes. Feel free to call us on +90 533 862 1686 or email us at firstname.lastname@example.org.