Property Investment North Cyprus

The bods in the know at Rightmove have spoken: Morocco, Cyprus and the Caribbean are officially the top destinations in which to invest your money in overseas property in 2007. The experts chose the locations based on current prices and rental and capital growth potential.

Thanks in no small part to its growing accessibility, owing to the recent introduction of bargain priced flights, Rightmove Overseas also waxes lyrical over Morocco’s ‘lush gardens, olive groves and palm trees coupled with medieval alleyways and the vibrant market stalls’. This exotic excitement is deemed key to the country’s increased popularity with today’s increasingly shrewd investors who are notably keen to branch out and purchase great value, cheap property overseas – before everyone else gets there. The website points out that flight bookings alone to Morocco were up 295 per cent in 2006 compared with the previous year.

Prices for Moroccan properties range between £100,000 and £125,000 on average, but investors have increasingly been searching for something a little more special than your average dilapidated riad to renovate, being attracted instead to high end properties such as those at Port Lixus, situated near to Larache, an Arab-Andalusian city, and an area noted for its unspoilt nature and history.

Cyprus investment makes sense

Cyprus has grown in people’s estimation as a viable investment opportunity, thanks to its relatively inexpensive living costs and great climate. Traditionally a popular holiday destination, people are waking up to the fact that buying cheap property in Cyprus as a buy-to-let decision makes sound financial sense, with rental demand high. Property in areas such as Alsancak and Bafra, in the north of the island, offers savvy investors the opportunity for excellent capital growth and rental returns. The Residence is the first private residential development set in the fantastic tourism area of Bafra. This luxury apartment complex will benefit from a host of facilities. Close to the newly planned Marina and Botanical Gardens, this great development is only a 2 minute walk to a superb white sandy beach. The Residence is being marketed internationally as a prime holiday destination and domestically as a luxury residential complex and it is anticipated that the development will achieve a high year round occupancy rate.

Caribbean property one of top overseas favourites

The Caribbean has seen property prices rocket thanks to the recent Cricket world cup and it seems as though the overseas property investment world has gone crazy for this most beautiful part of the world. Traditionally limited to interest in Barbados, St Lucia and Barbados, attention has turned to La Isla Margarita, known as the 'Pearl of the Caribbean', situated 38km north east of the mainland of Venezuela and far from the track of Atlantic tropical storms. Stunning property is available at unbelievable prices and homes are going very quickly indeed, investors spurred on by the simplicity and beauty of the developments on offer as well as their guranteed rental income. One such development is that marketed by Property Club International on Coche Island, lying just 8 miles south of Margarita and just 11km long and 6km wide. Here is the Isla Spa Resort, a veritable haven of relaxation and five star pampering facilities. Coche Island, together with Margarita and Cubagua, form the state of Nueva Esparta, and is a tax and duty free zone, and there is no VAT on the island. Being accessible by boat, it is only a short ride from the island of Margarita. There are direct flights, the majority of which are through Caracas in Venezuela and from there it is a short 35 minute flight to Margarita.

 

Investment Property and Villas North Cyprus

Whilst it is true that real estate in the Republic of Cyprus is widely considered to be one of the safest high-yield investments in the Mediterranean, properties in some parts of the island are set to appreciate more than others. Investment Property and Villas North Cyprus With anticipated differences of up to 5% per annum between an ‘average’ piece of Cypriot real estate and a ‘hot property’, investing in the right place can mean the difference between getting a healthy return on your investment and making a killing.

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So how do you find out where the hotspots are?

This is the real trick, since the Republic’s property market moves notoriously fast and yesterday’s hotspot may already be starting to slow down today.

Some investors browse through the baffling number of homes and villas available in north Cyprus before choosing one which seems right, others resort to paying a visit to Aphrodite’s isle, taking a look around and asking a few questions. Property and Villas North Cyprus Almost everyone on the island has an opinion on this matter and most locals will gladly point prospective buyers in the direction of a cousin or uncle who will ensure they get the best possible deal on their investment. This course of action almost invariably leads to a bum deal for the buyer and a gratuity for whoever referred them to the helpful uncle.

Finding the perfect Investment Property and Villas North Cyprus is about more than blind luck or listening to rumours.

The fact is that the best way to find current and future hotspots - short of spending a few years on the island to get a feel for the place – is to contact a specialist property consultant. Property Consultancies such as Meridies Homes Property Villa Sales benefit not only from many years of experience in the local real estate market, but also from an in-depth knowledge of the latest developments, so to speak.

Choosing the right company is imperative, since many operators in the Republic are contractually tied to a small number of property developers and are thus unable to provide prospective investors with truly independent advice.

When choosing an overseas property consultant, be sure to select a truly independent one.

Where are the hotspots at the moment?

At the time of writing this article, the smart money is spread between three distinctly different places and property types:

The Republic’s New Golf Courses In a concerted effort to put Cyprus firmly onto the international golfing map, the government has announced the issue of fourteen licences for new golf courses. These new courses, along with the attached golf resorts, are already beginning to attract the attention of golf aficionados and shrewd early stage property investors.

The Forthcoming Paphos Marina Plans for the construction of a spectacular new marina are afoot along the Cypriot west coast between Paphos and Coral Bay. The project, which is currently in the pre-release stages, has already attracted the attentions of numerous Hollywood and Sporting celebrities due to its highly exclusive nature. Once complete, the area around the new marina complex is set to become one of the most sought-after localities in the Mediterranean.

Larnaca’s Dekhelia Road On the face of it, Larnaca’s Dekhelia Road tourist area may seem like a somewhat odd real estate hotspot, due to its proximity to the local oil refinery. However, this eyesore is soon to be moved to the Limassol industrial zone and its site cleaned up with a massive grant by the European Union. Once the removal operation is complete, the area will be redeveloped completely into a leisure zone incorporating hotels, a large number of luxurious homes and even a new marina.

There are of course simply too many property hotspots in Cyprus to list individually in an article of this length, but the above should provide a good starting point if you are interested in buying a property in Cyprus.

Property Villas In Cyprus

Property and Villas in North Cyprus has seen price rises in Cyprus which have led to steady capital gains for Cyprus property owners. Recent announcement by low cost airlines that they have new routes to the island are set to make property in Cyprus even more disirable. One city that overseas investors love is Nicosia. The city has been a firm favourite for overseas property buyers and offers some attractions that you simply cannot ignore these include:

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The sun shines for approximately 330 days of the year.

Crime rate is 1/6th of the EU Average.

The cost of living is much lower than in many parts of Europe.

Ninety percent of Cypriots speak English.

The legal and banking systems are based on the British.

The telecommunication systems are very advanced.

Advanced medical care.

Cyprus Villas net rental returns vary between 4.5% to 11% and capital appreciation is still in double figures, expecting to show 10 to 17.5%. The average rental net return in Britain today is around the 3% to 4% mark, and capital appreciation generally matches this.

The Land Registry Department in Cyprus is one of the most advanced and reliable system in the world.

Steady Cyprus house and villa price increases have been putting a smile on the faces of the islands home owners and with the recent announcement by low cost airlines the news cannot get better One city that overseas investors love is Nicosia.

About Nicosia

Nicosia is the capital and largest city in Cyprus. The city is located on the Pedieos River and the population of the city is 206,200. The city is modern with several shops, restaurants and entertainment. The main industries include textiles, leather, pottery, and plastics. There are also several copper mines near the city.

Nicosia is located in the center Cyprus Villas of the island and has a historic feel with a Royal Palace and several Byzantine churches. The streets and old houses are very ornate. The Cyprus Museum is home to a large collection of Cypriot treasures and antiques. The heart of Nicosia is Eleftheria Square, also known as Freedom Square. The city hall, post office and library is located here.

Northern Cyprus has a large property and villa market of apartments and villas. The town of Karsiyaka is projected to be the next number one area for overseas property investment. The town is only half an hour from Nicosia is expected to become a luxury development area with hotels, vacation homes and luxury villas. The area is simple with coffee shops and markets, but the area is very beautiful and nestled into the mountainside. The majority of the property in this area has been allocated by the government for development for the tourism industry and several superior resorts are expected to begin construction. The area features stunning beaches that have been relatively untouched as well as numerous mountain trails. Shops, supermarkets and leisure facilities are also expected to begin growing in this region, making the area prime investment property.

The climate of Cyprus is very Mediterranean. The area is still very natural except for the major city districts. The outskirts have attracted numerous people because of their beautiful beaches and mountain scenery. Seaside homes are very popular with vacationers, tourists and retirees.