Should I buy property in Northern Cyprus?

Are you going to make an investment in real estate in Northern Cyprus, but doubts crept in? Is this purchase worth the attention or do you need to think it over carefully? We have prepared a short article in which you will find the answer to your question.

Before making a decision to invest in real estate in Northern Cyprus, it is important to carefully examine all aspects of this market. In the article, we will discuss the main advantages and risks of this type of investment so that you can make an informed decision.

Northern Cyprus is a partially recognized state that occupies a third of the island of Cyprus in its northern part. The population of the country is just over 290 thousand people. Northern Cyprus - these are ancient sights, beautiful culture, comfortable beaches and high-quality hotel services. It is comfortable to live, run a business or just relax. You can buy real estate in Northern Cyprus for every taste and budget.

The market of this segment is developing here every day, and allows you to offer the buyer different options - apartments on the beach, or cozy remote apartments, tailored to the needs of the client. In North Cyprus, real estate, prices for which have recently steadily added, is a profitable investment in the future. The economic development of the region creates favorable conditions for the real estate market. Leasing or reselling such an object will bring good profit.

Given the availability of an affordable segment of real estate in Northern Cyprus, and the increasing demand for them, fraudulent schemes have intensified. To protect yourself from cheating, be sure to consider the following points:

• Check the documents and permission of the company for real estate activities in the country;
• Find out the nationality of the developer. Under the laws of TRNC, only local or Turkish companies are entitled to conduct development. If such a clause is in the description of a Russian or any other company, this is false information;
• Only a local citizen can also be the owner of a company under the law of TRNC;
• Check the documents for the land under construction, so that it does not turn out that the house is on "alien" land;

• Go to a meeting with a lawyer who draws up a contract for you to conclude a transaction - he must be a Cypriot with a license;
• It is worth going to the selected object in person and making sure that it meets the stated characteristics;
• Avoid unfinished business. It’s cheaper, but it’s more likely that you won’t get your legal square meters;
• Do not see too attractive prices. The cost in the process can either be higher, or the seller will take the money and disappear.

To reduce the likelihood of fraudulent fraud, contact a trusted company for property selection services in Northern Cyprus. Mercury Group - luxury real estate abroad: selection, consultation and support of transactions.