Buying a property for investment purposes in Northern Cyprus is completely different to buying a home. The reason being when you are buying a home you are looking for what you like and what you don’t like. However, when buying as an investment it’s all about facts, figures and appeasing the masses.
There are 3 types of investment buying:
- Long Term Land Investment
- Property Flipping
- Property Developing
Long term Land Investment
Investing in this virtue requires patience as it could take up to 5-10 years to get a return on your initial investment. However, if done right, an investor could get up to 1000% return. Yes this is possible! In a rapidly developing country like North Cyprus as the cities expand and land becomes rarer and rarer prices sky rocket. Unwin Estate Agents have helped and facilitated multiple investments of this calibre and continue to do so as more and more foreign investment comes to the island.
Possibly the hardest out of the 3 because it is not easy to find the right balance and not get carried away with upgrades that would eat into an investor’s profit. Due to how long Unwin Estates has been operating in the region we have made many friends and partners in the construction industry and will always be happy to assist a keen, possibly first time property flipper, get the right property at the right price and advise on what should and shouldn’t be done to maximise profits.
Mistakes commonly made by new flippers:
- Not enough Cash
- Not enough Time
- Not enough Research
- Not enough Patience
Developing is simple, buy land, build a property then sell it. Obviously it takes thought and a lot of number crunching however these are all things Unwin Estates can help with!
Why Property Developing?
- Save money – your project could cost 20% below market value
- Make money – you could make large development profits
- Get better rental returns – which helps pay the mortgage
- Obtain easier finance – on completion giving you better leverage
Okay - you’ve decided that Property Development is a smart choice for you and you’re ready to start discovering your options.
Who will tell you everything you need to know and offer direction?
EASY! UNWIN ESTATES With more than 32 years’ experience we can advise on most things related to property and property finances.