“I’d love a custom designed home – but I don’t trust Off Plan!” is a frequent plea that we at NCI hear from enquirers. Many investors or would-be retirees arrive in the TRNC fuelled with a conviction that it is sensible to ONLY purchase a key ready villa or apartment. These second home seekers arrive with a “wish list” of what is needed for their new ready home in the Mediterranean which often include high quality design, luxury interior features and ultra-modern, environmentally friendly design. Yet those with the highest standards increasingly they can fail to find all that they seek in a key ready property and then wonder why they leave empty handed. This article explains why NCI strongly recommends our clients to take a fresh look at the new generation of luxury & eco-friendly off-plan villa and apartment properties in North Cyprus. These new properties offer the best combination of –
The key to this initially puzzling situation lies in the fact that North Cyprus is a young and developing property market where design and build standards are improving and changing very rapidly and where the market has only recently achieved the kind of ultra-modern property range more common in western European overseas property markets. In addition, Cyprus is a small island with restricted beachfront space – there is simply not the unlimited choice or space for development available in larger Mediterranean countries. The “first wave” of development which occurred 5 or 6 years ago has largely all been sold, yet resales which arise from this earlier “wave” may seem attractive price-wise but are often not of the standard which our clients seek now and may therefore need refurbishing or refinishing. What is being built today is on average hugely superior in standard from the kinds of properties which were built even as recently as 3-4 years ago, which is why NCI offers only few, very hand selected resale properties.
The great news is that there is a renaissance of visionary property developers in North Cyprus who are now custom creating Eco-homes with Smart technology, extended solar features, water recycling and under-floor heating at massively lower prices than a similar home in other locations. They are also expanding in to new build areas geographically and literally opening up new sea-view vistas. North Cyprus developers generally use private finance rather than bank finance to build homes, so will generally not build say 10 villas and wait for you to come along and buy one! Understandably, instead they build one show home at their own expense and then take custom design orders for off plan property sales which are built from start to finish in less than a year and paid for either by build progress stage payments or by company payment plans.
This is where YOUR opportunity comes in to get in at the start of this new wave of high-end development at great prices. This gives you a far higher chance for capital growth as well as the chance to select the best plot in the new locations. Prices for 3-4 bedroom villa beachfront properties of this type and standard start at around £199,000 – with designer apartments with many similar features in Kyrenia from only £40,000
“But will it ever be built – and will I get my title deeds with a North Cyprus off plan purchase?” are frequent concerns. And this is where the really great news comes in – as NCI has teamed up with one of North Cyprus’s leading developers to offer many customers the opportunity to obtain a title deed to their new property with their first payment, which can be as low as 25% of the cost of the property, and to receive build contracts of 12-18 months. What this means is that you have absolute control and security over your purchase, with no risk of losing money or not obtaining your property. This is what an NCI Off Plan purchase can guarantee
Here are some further benefits of going for an Off Plan purchase:
We at NCI hand-pick our property developers and our quality-control process guarantees your peace of mind, since each developer and site is vetted by our legal team. Your dream of custom-designing your own apartment or villa on the Mediterranean is only a phone call away. We look forward to welcoming you to North Cyprus in 2015.