A guide to buying "off-plan" in North Cyprus
Off plan, purchases have provided amazing returns for thousands of overseas investors over recent years. Clients that buy off plan usually have a return on invested capital as their own use and have no short-term occupancy requirements.
Buying off plan means buying on a envelopment where in some cases construction has yet to begin. Prices are usually very competitive at this early stage and discounts for block purchases can be acquired.
The developer will have detailed plans of the development and most often artists' impressions of how the properties will finally look. In some cases there may be a show house or the developer able to show the investor previous projects he has been involved in, so expected standards of the final product can be seen.
Buying off plan is a good investment as developers are prepared to price the properties below the market value before the construction is completed. After an initial deposit of between 10-25%, further payments are due at various stages of the construction period.
Other advantages of buying off plan are that the investor can often choose the best plots and locations available. Choices of designs and plans are frequently on hand.
Expected financial gains that are acquired is a profit of at least 15% by the time the property is nearing completion, and another 10-15% profit being added a few months after completion.
For further information please contact us:
Cyprus Island Homes Ltd.
Entrance of Lemar Karaoglanoglu, Kyrenia
North Cyprus, Mersin 10 Turkey
Tel: +9(0) 392 822 2661
Fax: +9(0) 392 822 3460
Mobile: +9(0) 533 864 1392
info@cyprusislandhomes.com
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