Property Investments in Northern Cyprus

A Complete time sensitive check list for successful investment in North Cyprus

The world investors are already in their “high-pressure phase”, with buying Real Estate in countries that are about to join the EU. The benefits from what seems like “guaranteed huge speculative profits” are becoming Europe’s most HOT investment plan.

Cyprus in addition to it’s expected EU join, has caught the eyes of professional & first time investors that want to maximize profits, with the additional price rise as to the expected unity between the Turkish and Greek sides.

As much it all sounds promising for the inexperienced investor, a complete checklist is a must for a successful Time-Sensitive investment in Cyprus:

1. Location Location Location – Cyprus in general is a blend of modern society in a spectacular sunny location. Choosing property close to the Beach, Transportation, landscapes will gain more value in the future.

2. Variety - Make sure the property itself has a variety of possibilities to suit your needs, such as a choice of finishes to make your villa individual, or maybe buying just the land with an option of high quality construction.

3. Flexible Payment Terms – Why not buy with a very low down payment offered by the project management company? This will make sure that your dreams will not be out of reach.

4. Reliable Seller - Make sure you buy from a management company that is at least a decade in the real estate business this way you will also profit from the insights of experienced investors. Try to not buy from the internet sellers.

5. Rental Option - Find real estate property where you can easily rent out while you are not there. This service can be found with a management companies and will save you time, money and efforts in the future.

6. Time Factor – Timing is everything. While prices are still very low, you must remember that they will not remain low after May 2004.

7. Transportation – Having an airport nearby the property, would make it a not only a better investment but more convenient for you to get there.

8. Insurance – I am an enthusiastic of insurance policies, insure your house! If you are buying with a mortgage insure your mortgage. “Private mortgage insurance”, is the default insurance on conventional loans and is very important if you are taking a loan. It will cover the lender in case of a foreclosure of the loan.

9. Taxes – Every country has different tax laws of buying real estate overseas. Learning your countries tax laws with regards of buying real estate overseas can easily be provided to you via your selling agent.

10. House interior finishing – You would want your villa to benefit from a nice finishing to it. Things to check are: who is the interior designer? Can you select your kitchen units? Does the house come with “white goods” such as fridge /freezer/ washing machine/ cooker?