Until now, in accordance with the purpose of use and the purpose of return on investment, we have made many investments on behalf of both ourselves and our investors, all of them were profitable investments, we trust Northerm Cyprus and we are waiting for you, after all, when you get on the plane to Lefkoşe Ercan in an hour from Ankara also the same with Bodrum. You go in an hour (prices are the same, even in the season, Cyprus is more affordable), you shop from the free shop, log in with your identity card (Turkish Citizens), and you are in your own country with your own people speaking your own language on one of the most beautiful island in the world ...
Land and Property Investments in the Turkish Republic of Northern Cyprus
There are many parameters that need to be considered in order to make a profitable land investment (even this is a relative concept) from the right place.
We will cover each of these in our articles in turn. Today, we will focus on why land investment in TRNC is attractive, what should be considered while investing, what the advantages and disadvantages are.
First of all, in the island countries where the supply is limited and the demand is constantly increasing, price increases are inevitable even if they are taken to rest during the economic crisis. Especially in the Mediterranean islands such as Rhodes, Meis, Malta and even in Southern Cyprus, m2 prices are much more than Northern Cyprus.
The most important factors in this are the diplomatic and political situation of Northern Cyprus, the perspective and approach of the governments of Northern Cyprus to investment issues.
Compared to the current situation, a serious need for housing and investment in the island has also been striking in recent years.
There are currently 27 active higher education institutions in the TRNC, with 21 local universities, 4 overseas universities, 25 universities and 2 vocational high schools. In addition, 15 more universities have gained the right to open a university on their applications.
Cyprus' main source of income, casino tourism, help and support came from outside Turkey, sea tourism, and universities, have come to pass the recently abroad retirement, it holds a beautiful climate and a quiet life preferences counted investments are considerable in place. (Freshwater and irrigation water problems caused though no citrus garden with olive trees is still present, in recent years will add vitality to the country brought water projects in Turkey and is sure to provide its replacement.) Cyprus casino revenues, more market outside the hotel benefits not provide However, (although there is still an indirect advantage in terms of employees and meeting their needs), each casino's annual license payment of at least 3 million euros per year contributes to the state. However, universities have a remarkable structure that makes a serious contribution to the Cypriot market.
The population of the TRNC is between 350-400 thousand (as citizens) according to 2017 figures, the number of students studying at universities is 103748 (2019-2020), non-citizens, relatives of students who stay in Cyprus for work or retirement, and It is stated by the official authorities (Ministry of Finance) that this number is 880 thousand, together with 250-300 thousand people, who mostly live (Russia, England, Israel, Iran, etc., there is a great interest from abroad). In addition, with the increasing number of beds every year, the number of tourists arriving has reached the level of 1 million 700 thousand, of which at least 100 thousand are tourists who buy long-term houses and summer houses. Considering that this figure was around 700 thousand only 3-4 years ago, the rate of increase gives a much better idea about the future.
In the light of the above information, as a result of our researches, while housing prices in Cyprus find buyers for prices such as 800-1200 GBP (£) (8000-12000 TL) per m2, construction costs are around £ 400-450 per m2. The most crucial point is that the land prices are low (in general) (except Kyrenia) and the flat rate of return varies between 10% and 30%. Land prices on the Kyrenia side have increased significantly due to the recent boom relations, and even reached a level that would cause damage to the contractors who built buildings on the prices requested by some land owners.
There are 3 types of title deeds in Cyprus (called koçan), real estate prices are valued in Sterling (GBP) (Great Britain Pound), traded in TL at the daily TL rate. There are 3 types of cobs; Turkish title deed with title (from past to present with Turkish ownership), Equivalent title deed with title (equivalent to Greek part) and allocation title deed (with no equivalent).
1 acre is 1338 m2, (1 Cyprus acre), 1 acre is 4 evlek, 1 evlek is 3600 square feet. (It is the Ottoman measurement system) (Cyprus consists of British in traffic, Ottoman in measurement system, European in terms of lifestyle, open-minded and beautiful people in terms of mentality.)
Recently (before 35 years) re-emerging land cadastral measurements were made and each comes two years according to the current measurement units in Turkey is currently in the form you will receive every deed m2.
Almost all of the island like 1/5000 zoning was done but the system shows significant differences from Turkey. There is a field on all of the title deeds. Do not let this surprise you, the building permits are separate. In any case, every land is a field in Cyprus (if 1/1000 parcelization is not done). Although the construction permit, called Chapter 96, gives you a 2,2 precedent permit, tangent, road shares, special restrictions, etc. Due to the reasons, the net usage areas will become clear with the project you intend to do with the opinion of the authorized institution for permission.
There is no master plan in Cyprus, a reconstruction area will give you sewerage, road, etc. For this reason, it is very important that the area to be built is close to or has these facilities.
Kyrenia, which has become very crooked, is expanding in the direction of Karşıyaka and towards the Karaağaç-Tatlısu direction. We are more interested in the area between Karpaz and Famagusta, where the beaches and beaches are more beautiful. The famous beach of closed Varosha shows itself up to Long beach and even Bafra from place to place.
Two years ago, in order to prevent unplanned construction, the interior ministry (this ministry is authorized) subjected a large area including Iskele-Gazi Magosa to reconstruction work (still in force but in disagreement) with a decree. I think this practice, which is wrong from beginning to end, from its purpose to its beginning, its application method and planning, will come to an end, and even should find it. Because it is possible to summarize its failing aspects briefly as follows;
1. A study aiming to prevent uneven structuring is an approach without vision. A zoning; within ....... m2 area .... to the region, which is the estimated weighted average age group ... where the person will live ..., with the aim of attracting the following education and income level ... .... appealing to the local / foreign population ... if you say I am doing a zoning work in the vision (green area, density etc.), if you set your goals, you already prevent unplanned construction, as well as the settlements where very efficient, efficient, profitable, comfortable, happy people live you create. (This is the first step in starting a Dubai, it should be supported by organized work such as political, economic, etc.
2. The new building permits and precedents given to the lands are very wrong, I still do not understand the 2.2 precedent commercial and 0.50 precedent subject development right behind the sea. Regions not related to agriculture were declared as agricultural areas and closed to construction (I understand the controlled housing permits, but the selected regions are incorrect).
3. Entertainment venues, places of worship, social facilities have not been determined.
4. There is no abandonment in the lands, it has taken its final form like 1/1000, there is no parcelization, unification, etc.
5. Planning, which could not come to a conclusion for a long time, has been the focus of political discussions due to its mistakes and has lost the support of the public behind it.
This list goes on and on. In addition, a foreign investor in Cyprus used to be a house alabilirken (citizens of the Republic of Turkey is a foreign status) can be allowed up to 2-3 home today. Spouse and children can also buy 2-3 private houses.
Regarding the land issue, a foreign investor cannot occupy more than 1338 m2 (1 Cyprus acre). For this reason, our investors either make transactions to their spouses, children, friends .. 1338 m2, or by making a transaction with our lawyers like us, or establishing a company 51% of which belongs to Cypriot citizens, with mutual agreements and limitations of signature authorization. In addition, in order to obtain the title deed, a security investigation from the Ministry of Interior is required between 3 weeks and 8 weeks from the application.
If we can summarize what we have written so far, Cyprus is a promising place full of opportunities, there are many obstacles and difficulties, from zoning to the difficulties of obtaining title deeds, yet the profitability and advantage in investment is very high. Demand from foreign countries such as Russia, England, Israel and Iran is especially high. There is a serious housing shortage with students' need for housing. As prices are traded in GBP (sterling), the value increases are also in sterling terms. Regardless of the results of the natural gas exploration on the agenda, it is a shining region. For this reason, we provide services to our investors by investing in the most correct way and places, by not announcing the need for the investor to go to Cyprus many times for transactions with the power of attorney and apostils given to our lawyers, or even by sending the title deed to the address of his choice.
It is necessary to be very careful about which title type is suitable, where to invest, how to invest, what price levels are correct.
Until now, in accordance with the purpose of use and the purpose of return on investment, we have made many investments on behalf of both ourselves and our investors, all of them were profitable investments, we trust Northerm Cyprus and we are waiting for you, after all, when you get on the plane to Nicosia Ercan in an hour from Ankara also the same with Bodrum. You go in an hour (prices are the same, even in the season, Cyprus is more affordable), you shop from the free shop, log in with your identity card (Turkish Citizens), and you are in your own country with your own people speaking your own language on one of the most beautiful island in the world ...
Note: A few days after our article, Forbes writer Kathleen Peddicord showed the North Cyprus pier area as the best beachfront investment area in the world in 2021, for the original article: https://www.forbes.com/sites/kathleenpeddicord/2021 / 02/05/5-best-beachfront-buys-for-2021 /? Sh = 461037bb3b76
