North Cyprus has seen growth in property prices over the past 3 years, and particularly in the past 12 months, but prices still remain at least 50% less than equivalent [properties in South Cyprus.

This increasing market price means that it is possible to purchase the property with a view to selling the property during construction or upon completion.

Selling your off-plan property for return on Investment

Buying off plan or buying in a growing market can yield a good return on investment by buying the property at initial launch price and selling at a later stage or at completion when prices increase.

Typically an off plan development will increase in price at certain stages of the selling/construction process (Example):

• Villa launch price: £100, 000
• 50% of development sold – 10% increase: £110, 000
• Skeleton Phase - 10% increase: £120, 000
• Completion 10% increase: £130, 000

Price increases can occur outside increase of market prices, based on the current property “boom”, therefore further increases are be made in many cases than the above conservative example.

For example, seaside properties that began for sale at launch at 65K that have just finished phase one of construction on half of the development are currently selling for 91K. For successful developments like this, feel free to contact Julie@remax-golden.com to choose the perfect property for your investment goals.