Buying A Villa In Cyprus
November 22nd, 2008 by Tim Martins, under Vacations. No Comments
A really popular 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.
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’re after making a few quick thousand bucks in a few years then I will virtually guarantee you can do by buying a Villa in Northern Cyprus. If you look at the property market in Northern Cyprus you’ll see that only 10% has been taken, so this gives you a great chance to make your money. Most people buy off plan, which is great because you buy your house cheaper, and when it’s built which can take around 18 months to finish your sat on a great amount of money.
I wouldn’t be telling you all this if I couldn’t back it up, but I have bought several villas in Northern Cyprus over the last few years. The conclusion to my investments is that each villa has appreciated by an average of 25% per year and I only have to rent them out for an average of 14 weeks per year in order to cover the monthly mortgage repayments. Not only that, but I have managed to clear my UK mortgage in just 3 years, so I am a winner on all fronts.
The second hand property market also has plenty of bargains to offer and an average 3 bedroom, 2 bathroom villa with private pool and sea view can be picked up for as little as 120.000 pounds sterling, so keep your eye for this type of offer as they don’t hang around for long. The best tip I can give you at this stage would be to always make an offer about 15% under the asking price and you’re in business.
If you are on the verge of buying a property in Cyprus then make sure you have a look at the site at cyprusinformer.com for the very best in independent precise information. They also have a blog where you will find a whole bunch of articles which touch on all types of property and holiday aspects about Cyprus.
