If you have already stayed in a holiday villa in North Cyprus, you'll know what a great holiday destination this beautiful country is. You may also be considering investing in a villa in Northern Cyprus to rent out or as a holiday home for you and your family.
The secret to buying a good investment property in North Cyprus is the same as buying a good holiday villa with rental potential; location, location, location! So, don't be tempted to view any properties or put down any deposits at the end of your holiday in North Cyprus until you have explored the country more.
If you are serious about purchasing a holiday villa to rent out, come back to North Cyprus out of season for the sole purpose of looking at potential investment regions and properties. Before you leave the UK for North Cyprus, check out North Cyprus discussion forums such as Cyprus44.com, and browse the discussions on properties and developments.
Rent a villa from Amy Villas for at least two weeks, and spend your days exploring areas in a rental car. Do you like the rapidly expanding area around Esentepe, with its new villa developments, modern town centre and excellent golf course? Or do you prefer a central Kyrenia villa location, with the historic harbour and town centre on your doorstep? Or are you drawn to the potential property hotspot of Bogaz, close to the rugged beauty of the Karpaz Peninsula?
Now consider what your potential market might be. If you invest in a holiday villa in North Cyprus for your own use, your rental market is likely to be people like yourselves.
If you are looking for a good return on your investment in both rental and growth terms, try to identify the best holiday villa location with a shortage of rental villas at present. Browse the range of holiday villas on offer here on Amy Villas and their availability to judge what kind of rental you might achieve (go on - we don't mind!). Once you have identified your favourite area, then you can start looking at specific villas.
The best buys in North Cyprus property used to be offplan apartments, but with so many still being constructed and a danger that the market will become saturated, you might be better to consider completed holiday villas instead. Although the price may be higher, you can enjoy your holiday villa immediately or rent it out straight away, without waiting for the builders to finish or the utilities to be connected!
The buying process for property in North Cyprus is very similar to the process in the UK, so treat any prospective purchase as you would a UK property purchase. This is a big decision, so take your time, and never feel hassled by either estate agents or developers' sales teams.
Set your maximum budget before you leave, after investigate financing options in the UK. Armed with this budget, you can make informed decisions when you reach North Cyprus.
First cast a critical eye over each property or villa you view in Northern Cyprus. Is the villa suitable for renting to children, or has it too many open balconies, for example? Are there many changes of level and steps making the villa unsuitable for older clients? Can you easily access local shops or facilities, or is the villa down a long drive only accessible with a 4x4?
Of course, all these 'issues' can become sales points when you rent your villa! Some clients prefer seclusion that a private drive affords, others prefer an unusual layout, and so on!
Once you have selected your top three properties, engage the services of an English-speaking solicitor. Never use a solicitor suggested by your developer; choose your own so you can be sure of their impartiality.
If you plan to offer your North Cyprus villa for rent, choose a property management company that specialises in villa rental. They will look after your villa whilst you are away, check it during the winter, and ensure your villa is ready for new rental clients arrive.
If you wish a survey, employ a surveyor and have them ready to act as soon as your offer on your North Cyprus holiday or investment villa is accepted.
Once your offer for the property is accepted, your solicitor in North Cyprus begins his work. Your contract should be in both Turkish and English; if not, do get the contract translated professionally before proceeding. Any contract for North Cyprus property contract should include:
Once you have made the final payment and the money has cleared, you can collect your keys and enjoy your new holiday villa in the Northern Cyprus sun.
If you only plan to use your holiday villa once or twice a year, and do not intend to rent it out, it may be much more cost effective to rent a holiday villa each year from Amy Villas. You'll enjoy a lovely villa, without the hassle of maintenance, marketing to rental clients, or tying up your money. On the other hand, you could invest in your dream North Cyprus holiday villa and we here at Amy Villas can rent it out for you - see our Villa Owners page for full details!