Depending on the down-payment (normally around 10%, the rest is paid upon construction) and speed of construction, profits from off-plan deals average at 25% in Northern Cyprus.
Investors should however exercise due diligence and choose wisely, making sure their off-plan property in Cyprus is located in an area where they will resell quickly and easily or where there is a high rental demand for their buy-to-let option.
Rental returns on initial property investment in Northern Cyprus are approximately 10%. There are large discounts available on most developments in North Cyprus for multiple unit purchases.
In order to limit financial risk and debts, the developers of any project in Cyprus will wish to sell units off-plan. They understand that if buyers cannot see a physical property at the beginning, they will demand a lower price, while relying purely on the developer’s reputation, the property location, artistic impressions and computer simulations on which to base their decision to purchase.
Maximizing Profit From Off-Plan Investment in North Cyprus:
- Purchasing early
In North Cyprus, as in any other market, it is important to buy your villa, townhouse or apartment as soon as possible during the early stages of development when prices remain very competitive but are already beginning to rise.
- Purchasing the best units
Early off-plan property purchase in North Cyprus allows investors to choose the most sought after properties on any given development.
- Price increases as development matures
As construction begins, the value of the units rises. A completed show home is normally available for viewing at this stage, while buyers are confident they are taking less of a risk as they now do not need to rely completely on plans.
- Price appreciates as more units sell
Units sell faster when buyers are able to physically see them.
Investors are currently making some excellent investment choices in off-plan property in Cyprus and we are dedicated to helping you pick the best investment options suitable to your particular needs. In this way, you can generate personal wealth through safe and intelligent off-plan investment.