Property buyers have to do their homework in Northern Cyprus
Property investors considering the northern part of Cyprus have been advised that they should take time to understand the entire property buying process in Northern Cyprus before they enter the marketplace which will avoid any potential issues relating to land disputes; furthermore they will save themselves a great deal of time and effort that is so often wasted by investors unsure of what it is they are looking for or looking at!
Paul Owens, Chief executive of the Association of International Property Professionals commented: “You need to do your homework, do your research and make sure you take independent legal advice to make sure you are buying what you think you are buying.”
The Mediterranean island destination is unique for property investment as it is with thousands of years of history, a perfect year round climate, stunning natural beauty and yet it has remained untouched by mass development and mass tourism because the island of Cyprus is divided and until recently Northern Cyprus was effectively unreachable. Theprices have risen by up to 50% but still they remain up to two thirds cheaper than prices in southern Cyprus. Investors are aware that this disparity will not remain forever and that now they are buying into great potential for substantial property price growth.
The more good news is Northern Cyprus has a plethora of spectacular castles, natural harbors and a view of the Turkish coast on the horizon. Rental investors and developers are entering the market in large numbers for letting to tourists and for sale to expatriates, retirees and those looking for a holiday home in the sun.
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