NORTH CYPRUS RESALES

The only professionals for resale and completed properties in North Cyprus

We explain the facts, the truth, and why resale property is the sure and only way when purchasing property in Northern Cyprus

  Reasons why you should  consider Resale or Completed Properties

• Completed site...... in order for a developer to complete a site he will usually need to sell all the units. This can lead to years of living on a building site. By buying resale or completed properties, developments will be close to completion or will of already completed. 

• Unexpected additional costs.... extra costs for VAT, sub-station contributions, roads, water supply can add up. It is not unheard of to be expected to pay many 1000's of pounds just for the sub-station contribution. Many of these are reduced or not applicable with resale and completed properties. 

• The Risk..... the biggest risk when buying off-plan is the developer going bankrupt, remortgaging your land or running off with your money and leaving unpaid debts, This happens throughout the world with off plan developments but is a risk that can be reduced by buying completed or resale properties.

• Inflation..... building and material costs increase year-on-year. The property built 5 years ago probably cost 20% less to build and cost 25% less to buy. Even with property prices increasing, most people selling property are happy to fully cover thier costs plus make a small profit often resulting in a lower price than buying off plan.

• Extra costs after completion... once the property is completed ther is likely to be many additional costs ie. sub station contribution , electric, water, sewage connection charges, telephone connection etc, etc .Many resale properties will have covered all these costs and some will come fully furnished potentionally saving many £1,000's of pounds.

• Plot of land...... standing on a plot of land with green grass up to your knees, on a summer's day; admiring the view, with nothing to spoil the tranquil setting sounds idylic. Of course a year later the view has been reduced to a gap, the green grass is now mud and puddles with JCB tyre tracks create their own obstacle course for the 4x4 boys on a Sunday outing (well that is until the 60 foot pylon gets in their way!)

• The expectations ..... that the bedrooms could each accomodate a kingsize bed, the utility room that was going to be a 5th bedroom, the kitchen of your dreams, the en-suite with his and her sink, granite island in the kitchen and a breakfast bar large enough to accommodate the entire Osmond family and in the en-suite bathroom!

    The experiences of purchasing property abroad unleashes many horror stories, many of which can be avoided with some simple steps

•  Lower price than completed unit....... this is not always the case, and as proven in many Countries around the world buying off-plan can actually work out to be more expensive than buying a resale or completed property.

   
• Stage payments for spreading the payments...... not everyone can afford to pay several 1000's of pounds every few months and therefore resort to re-mortgaging to make those payments.  If you are going to re-mortgage it makes even more sense to buy a completed/resale property that you can start to enjoy and reap the benefits of today.
 
• Overseas mortgages can easily be obtained.... there are only a few mortgage providers in Northern Cyprus, of which nearly all will charge a minimum 6.5% interest plus arrangement fee.  With the current climate, mortgages elsewhere can be sought for as little as 3.99%.p.a.
 
• Guaranteed rental with off-plan pays my repayments..... the majority of guaranteed rentals offered on off-plan developments are guidelines where the price you pay the rental return is calculated within the price.  Ask for the equivalent discount and you will probably get it.  If there is a guaranteed payment ask to see the details and read the small print.  

• I get to choose my tiles and wardrobes.... that is of course if they respect your choices.  More and more developers now refuse to provide a wide range of tile and kitchen choices due to the fact that choices made 2 or 3 years ago are now old range or out of stock.  If it is a major issue look at resale/completed properties where the tile and wardrobe choices are installed, you never know, you may as is usually the case, come across a higher grade flooring and high-end kitchen which would have cost you an extra £10,000 and, if not, it may not cost you as much as you think to get the finish of your choice.