PRE-
- Turkish Title Deed
- 50% building permission
- Stunning location
- Sea Views
- Has a Road
- Electricity on site
- Close to new marina
- Renovation Project
- A real investment
This renovation project sits on a one donum plot, (1338m²) of Turkish title land. On the edge of the Karpaz village of Kaleburnu on the South side of the Karpaz Peninsula in Northern Cyprus. Much of the land in this area has strictly enforced restrictions on building in order to protect this area of outstanding natural beauty. For this reason it is very rare that an opportunity such as this becomes available. The existing building was built in 1946 and is in need of total renovation. There is a road to the property and electricity supply close by, this, coupled with its Turkish Title Deeds, makes it an extraordinary buy and we expect strong interest in this one off investment opportunity. This really is an opportunity that should be high on the shortlist for any serious investor.
The Region
The Turkish Republic of Northern Cyprus is one of the few remaining “undiscovered”
places of the Mediterranean. It has a diverse abundance of outstanding and unspoilt
natural beauty from the crystal clear waters and golden sandy beaches to the heights
of the pine clad mountains and Crusader Castles. With exemptions on income tax,
import duties, corporation tax and very low council tax North Cyprus is a property
investors’ haven. The past three to four years has seen an increase in foreign investment
where we have seen investors from Russia, Israel, Turkey and the UK buying into land
and large scale developments. With prices around half of that in the south of the
island the potential for growth is considerable and real.Although there is an increase
in the amount of development going on it is being strictly regulated by the government
which is wary of degrading the coastlines and natural beauty of the country with
ill-
One such area is the Karpaz region. The Karpaz Peninsular is at the northern most tip of Cyprus, pointing out towards Syria and Turkey. The region has strict regulations on development and is a protected wildlife sanctuary where rare turtles lay their eggs on the golden sandy beaches, in excess of 300 species of birds pass through every year as they fly along one of the main migratory routes. Wild flowers are in abundance and the landscape is distinct from the rest of the island. It offers a haven of tranquillity for those who wish to explore the ancient monuments, walk or cycle on the mountain tracks or just relax on the beautiful beaches.
If any single addition could add value to an investment here it would be a yacht marina and that is exactly what has been approved and is under construction on the north coast close to Yenierenkoy. Due for completion on mid 2011 it is designed to offer over 300 berths as well as the capacity to moor 65m super yachts. Coupled with the developments at Bafra this area does offer excellent investment potential
Buy Options – the choice is yours!
Building your own villa
Some people prefer a villa or an apartment on a holiday complex with lots of facilities; others may prefer a quiet spot in the country to live in peace and tranquillity. Then again, maybe the prospect of living in a typical Turkish Cypriot village may be very appealing. A lot of Europeans and other foreign nationals have found that adapting to the Turkish Cypriot way of life can lead to a most rewarding lifestyle.
We are able to assist in the whole planning process for those wishing to purchase a plot of land to build a villa or bungalow to their own design. Helping you find and secure the right plot of land with secure Title Deeds is critical. We have a good portfolio on our books but if your ideal is not available we have numerous contacts within the local community and will endeavour to find what you desire. Having secured the land, we can then assist you in employing a good solicitor, architect, and builder and guide you through the processes. Once the building process is underway we will keep an eye on the progress to ensure time lines are met according to your contract and that your staged payments are made to the builder as scheduled. Foreign citizens may now purchase up to 5 Donums but it must have an existing building on it, otherwise the limit is 1 donum upon which you may only build one property on the land. We can help in setting up a trust deed should you wish to purchase more land than is allowed.
Developing
Should you be looking at developing property in North Cyprus, for example a development for residential tourism, a holiday resort or other such touristic developments then you will need to form a Limited Company within the Turkish Republic of Northern Cyprus. We are able to introduce you to relevant solicitors, architects and builders for this purpose.
Pure Investment “Buy land, they don’t make it anymore”
This quote from Mark Twain was as true in his day as it is today and many people
are buying land in North Cyprus for investment purposes. There are no complicated
concepts that investors need to understand with land, just that there is an ever-
Land sizes
Traditionally land area in Cyprus was measured in Donums. This can be confusing to anyone new to the country. So to help we have converted them to more familiar units of measurement for you
1 Donum 1338 square metres (one third of an English acre, so 3 donums = one acre)
1 Evlec 334.45 square metres (there are 4 evlecs to one donum)
Build costs
Build costs can vary, dependent on what standard of finish is required. Costs will vary also depending on the location and situation of the site, e.g. if it is on a hill or access is difficult. Also to be taken into consideration is costs of architects, electric supply, swimming pools, landscaping etc. We can assist by obtaining quotations for you once your criteria is agreed.
