northern Cyprus is a minefield......
It is very true that Northern Cyprus is a minefield. There was an article in the Sunday times about a couple that has bought from a doggy developer called “Aga marketed by a British agency called “Unwin Estate Agents” and basically have gotten a half build villa with no electricity or water and human excrement in the corners. On top of that they have sold the same property twice.
Google minefield and Sunday times, Cyprus and you’ll see the article.
Basically they got stitched up all the way and no have to fight to get their initial investment back.
All I can really say to this is, firstly it could have happened to anyone of us and secondly these kinds of stories happen all over the world on a daily basis.
Doesn’t matter what country you looking to buy property there are always cowboys that will try to rip you off. For example Spain was renowned for it; however it didn’t stop people buying properties out there. The question is why not?
Well the property market is undervalued at the moment and there is strong growth to be made in the foreseeable future. So it’s an ideal property investment opportunity.
What you need to do when buying property abroad is DO YOU DUE DILLIGENCE!!!!!!
Main points look for: track history, transparency of company, i.e. Financials, Addresses., nearby developments enabling you to compare to see if you getting value for money and not over paying. Exit strategies, and after services, i.e. management of the development after completion, hidden costs, clauses in the Contract,
Northern Cyprus is an amazing place to live, have a holiday or just own a investment property check the market drivers that i have listed earlier on.
All you need to do is find a decent developer , Agent, or just built proeprty for the right price that suits you.
I am working for a global developer and we have successfully acieved 5 developments till now and have just launched a development in Northern Cyprus, Famagusta. We are a Uk based developer that sources opportunites globally and capitalisees on their potential. Simple as that, building a property is not rocket science!!!!! However give your money to someone that has done it before.
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