Cyprus Investment Tips – Investing in North Cyprus Property

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.

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.

I had a UK mortgage until recently and I am so glad that I managed to pay it off, otherwise I would have been in trouble by now. How did I do it you may well ask and you just won’t believe how easy it has really been. I invested in a Cyprus villas about 3 years ago and was then able to rent it out on an average of 15 weeks per year. This covered the mortgage payments and I was able to invest in 2 more villas over the following years. All the extra income has helped me pay off my UK mortgage and I also have 3 villas that have virtually doubled in price.

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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