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PRE-1974 TURKISH TITLE DEEDS ON THE KARPAZ PENINSULA OF NORTH CYPRUS. RENOVATION / RE-BUILD PROJECT

 

 

£35,000

This renovation project sits on a plot of Turkish title land. On the edge of the Karpaz village of Kaleburnu on the South side of the Karpaz Peninsula. 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.

Developing a project or building on your own plot.

 

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 or to develop a restoration project such as this.  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 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 may only build one villa on the land.

 

Developing

 

Should you be looking at developing in North Cyprus, you will need to form a Limited Company within the Turkish Republic of Northern Cyprus to do so. We are able to introduce you to relevant solicitors, architects and builders for this purpose.

 

Pure Investment

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-increasing demand for building and a restricted supply of plots for sale. Land prices have risen faster than equivalent house prices. This particular plot of land holds original pre 1974 Turkish Title Deeds, still considered the gold standard.

Land sizes

1 Donum  1338 square metres (one third of an English acre)

1 Evlec  334.45 square metres

 

Build costs

 

Build costs can vary, dependent on what standard of finish is required. For a standard finish, please allow approximately £400 per square metre. Costs of architects, electric, swimming pools, landscaping and so on can be given on individual plots at the time of viewing.

 

 

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 few 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 often around half of that in the south of the island, like for like, the potential for growth is considerable and real.

Although there is an increase in the amount of sympathethic development taking place, it is being strictly regulated by the government which is wary of degrading the coastlines and natural beauty of the country with ill-conceived construction projects. Developers are being forced to take the natural surroundings into consideration in order to maintain the integrity of the natural setting. Despite the recent price hikes in the North Cyprus property market, it still offers investors great opportunities to buy real estate at very competitive prices.

One such area is the Karpaz region. The Karpaz Peninsular is at the northern most tip of Cyprus.. 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 have added value to an investment here it would be a yacht marina and that is exactly what has been built and is attracting wealth on the north coast close to Yenierenkoy. Not just for boat owners, this facility boasts a first class restaurant and a beach club area among it’s attractions. Together with the five star resort at Bafra and some of the world’s finest beaches, the attraction is pretty obvious.

 

 

 

 

 

 

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