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North Cyprus Properties - What is Available?
- By Sandra Kilic
- Published December 4th, 2008
- Real Estate
- Unrated
Sandra Kilic
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When considering buying a home or an investment property in a country like North Cyprus, one should become familiar with what the market has to offer and then choose the most appropriate one. Only then the process of buying property becomes more joyful and easier, because it is possible to focus on the type you like and find the most suitable property.
Villas
Villas in North Cyprus are quite popular and there are many to choose from. In terms of price range you can get villas from anywhere around GBP 60,000 (about USD 120,000) to couple of millions of GBP. You can get you villa in a modern contemporary design or a luxury style. If you buy newly built or resale villa, most of them come with either private or communal swimming pools. If you buy off-plan you can usually choose the type and the size of your swimming pool.
In terms of location you can get your villa close to the shore, up on the mountain or anywhere in between. Kyrenia, a beautiful city in the North, offers stoning sea and mountain views. Even if you choose to buy your property not so close to the shore, the chances are high that you still get the sea view since the highest buildings allowed to be built are only 4 stories high.
Apartments
Apartments in North Cyprus are great for purchasing. The prices range from around GBP 40,000 ( about USD 80,000Y) and GBP 50,000. Most apartments in North Cyprus are located in residential
complexes with management. If your apartment is within a residential complex, for a monthly fee the management takes care of your pool, garden, your bills and so on.
You can use your apartment for your residence while on holiday and rent it out at the times you are not in Cyprus. Renting to students is a very common option for many investors. About 10% of North Cyprus's populations are students and academician. And since 90%+ of North Cyprus university students, and even the faculty, are expats and they usually prefer to stay outside university dorms.
There are various property management agencies that can help you make sure your property is safe while rented.
Houses
Another exciting option for buying a property in North Cyprus is to buy houses. Again, you can use your house whenever on holiday and rent it out other times of the year. The advantage houses have over apartments is that there are easier to rent to families, if you are concerned about renting to students.
Bungalows
Bungalows are suitable if you are on limited budget but you still prefer to enjoy privacy of an independent property. Usually bungalows are not located in down towns so it is more difficult to rent them out throughout the year, however during summer time, which is 5 months in Cyprus!, you can rent your bungalow to holiday makers on weekly basis.
Typical prices for bungalows are GBP 60,000 to GBP 80,000. And you can expect to earn upto GBP 200 to GBP 300 every week during the high season.
Villas
Villas in North Cyprus are quite popular and there are many to choose from. In terms of price range you can get villas from anywhere around GBP 60,000 (about USD 120,000) to couple of millions of GBP. You can get you villa in a modern contemporary design or a luxury style. If you buy newly built or resale villa, most of them come with either private or communal swimming pools. If you buy off-plan you can usually choose the type and the size of your swimming pool.
In terms of location you can get your villa close to the shore, up on the mountain or anywhere in between. Kyrenia, a beautiful city in the North, offers stoning sea and mountain views. Even if you choose to buy your property not so close to the shore, the chances are high that you still get the sea view since the highest buildings allowed to be built are only 4 stories high.
Apartments
Apartments in North Cyprus are great for purchasing. The prices range from around GBP 40,000 ( about USD 80,000Y) and GBP 50,000. Most apartments in North Cyprus are located in residential
You can use your apartment for your residence while on holiday and rent it out at the times you are not in Cyprus. Renting to students is a very common option for many investors. About 10% of North Cyprus's populations are students and academician. And since 90%+ of North Cyprus university students, and even the faculty, are expats and they usually prefer to stay outside university dorms.
There are various property management agencies that can help you make sure your property is safe while rented.
Houses
Another exciting option for buying a property in North Cyprus is to buy houses. Again, you can use your house whenever on holiday and rent it out other times of the year. The advantage houses have over apartments is that there are easier to rent to families, if you are concerned about renting to students.
Bungalows
Bungalows are suitable if you are on limited budget but you still prefer to enjoy privacy of an independent property. Usually bungalows are not located in down towns so it is more difficult to rent them out throughout the year, however during summer time, which is 5 months in Cyprus!, you can rent your bungalow to holiday makers on weekly basis.
Typical prices for bungalows are GBP 60,000 to GBP 80,000. And you can expect to earn upto GBP 200 to GBP 300 every week during the high season.
