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| Q: |
How is land measured in Northern Cyprus? |
| A: |
Land in Northern Cyprus is measured in Donums. A donum is
approx. 1/3 of an acre or 1,338m². There are 4 evleks to
the donum and 3,600 square feet to an Evlek – easy really. |
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| Q: |
Where is the best place for investment property
in North Cyprus? |
| A: |
There is no ‘best place’, although the areas of
Esentepe, Bahceli and Tatlisu are very popular at the moment
with the opening of the new coastal road, construction of North
Cyprus’s first 18 hole golf complex (opening spring 2006)
and the brand new marina (opening spring 2007). Alsancak, Lapta
& Karsiyaka are also a firm bet, with a proven track record
and established community. |
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| Q: |
When and how do we make stage payments? |
| A: |
We will inform you, with plenty of notice, when each payment
is due. This will be done after the vendor informs us in writing
that the work stage has been completed. |
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| Q: |
How will we keep an eye on the progress of our
property in North Cyprus? |
| A: |
We have an after sales team second to none who will ensure
to e-mail you ‘up date reports’ and photos as regularly
as possible. This is a free service provided by our company,
and although we cannot guarentee the regularity of the reports
we will endeavour to make them as regular as possible. |
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| Q: |
Who will look after my property when i’m
not on the island? |
| A: |
Cyprus
Homes Property Investments will look after your property
as if it is their own by checking the property once a week and
paying any bills etc. |
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| Q: |
Can I buy a property in North Cyprus without visiting
the island? |
| A: |
We have made many transactions over the internet and the process
of a property buy is very simple. Some past clients have bought
and then sold properties without ever visiting the island! |
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| Q: |
Do we need to make a Will? |
| A: |
We advise you to set up a Will in Northern Cyprus as a UK
Will is not valid here. |
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| Q: |
How do we find a solicitor and can we use our
UK solicitor? |
| A: |
No. You must use a solicitor based here in Northern Cyprus.
As we do not carry out any construction ourselves, we can give
you totally impartial advise when recommending a lawyer/Solicitors |
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| Q: |
What do i have to do to live/work in Northern
Cyprus? |
| A: |
You will be required to have either a residential
permit or work permit, both of which are easy to obtain. |
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| Q: |
What are the costs involved, when buying a property
in Northern Cyprus? |
| A: |
The only property taxes you
will be required to pay are 6% stamp duty (but 3% exemption on first purchase) and 5% KDV (VAT),
plus £1,000 legal fees. |
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| Q: |
How do I make multiple property purchases in North
Cyprus? |
| A: |
There are a few ways of making multiple
purchases; by opening a LTD company, using other peoples
“allowance” or by selling on before the transfer
of title. |
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| Q: |
How do I go about selling my property sale and
cashing in my assets? |
| A: |
When it comes to property buy and property sale in North Cyprus
we are the market leaders and will be able to find the clients
for you. |
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| Q: |
Why shouldn’t I go direct to the property
builder? |
| A: |
Because we are property agents who will give you totally impartial
advice and we will seek out the best investment opportunities
for you. There is no ulterior motive or hidden agenda, so you
can guarantee that you are getting the best property investment
advice and value for money anywhere on the island. |
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| Q: |
What kind of return can I expect from my property
investments in Northern Cyprus? |
| A: |
The property growth in Northern Cyprus has been steady over
the past 3 years and is continuing to increase at approx. 25%
to 30% per annum. With prices still a 1/3 of most parts of the
Mediterranean, buying properties
in this beautiful part of the world can be very lucrative indeed. |
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