property is selling in north cyprus

cyprusairsoft



Joined: 22/06/2009
Posts: 2066

Message Posted:
28/06/2009 19:57

Private sellers are buying and selling property in a slow but steady trickle compared to the estate agents.

that might be something to do with agents fees perhaps as they seem quite high.

I have seen two properties sold this week by same builder and he is delighted that things seem to be moving if at a slow pace.

My friends house which was up for sale last week sold on the 3rd viewing by the same couple and nine people had shown an interest which is great.

We met a couple who were looking to buy last week on holiday and they were not going to be distracted by the politics gc propaganda of the price of the euro! Im happy to say they have also done a deal well done.



i think it is essential to get unfinished projects completed and boost the trnc economy

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
28/06/2009 21:20

Within the family we have apartments on different complexes on one compkex the apartments are selling at a steady pace , this site is finished to a high standard fully landscaped and crystal clear pools , one of the other sites we own on is just the opposite ,such a let down hence no apartments selling , as you say cyprusairsoft these unfinished projects will just stand still and get left behind to the ones that have all in situ and are up and running , .

Middle Easter


Joined: 13/06/2007
Posts: 146

Message Posted:
28/06/2009 22:31

For anyone even with finished properties, don't sell! As the market is not currently good, but for anyone with a 5 -10 year time horizon the key issues are massively positive.



1) The location, location, location - simply unbeatable! Look elsewhere...do the mountain & sea views come anywhere close? For instance the Southern shores of Cyprus (no political comment) are just a flat coastal plain.

2) Solution to Cyprus problem - probable within 10 years

3) Price vs. South Cyprus are 1/3 like for like



No brainer for me. Even if 2) doesn't happen, I still wouldn't prefer TRNC to anywhere else to live, or exchange (no pun intended) my 4 bed villa for a 2 bed apartment (i.e. same value) in the South....



Come on Northerners, lets be positive....

sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
29/06/2009 01:32

i agree middle easter,i spoke to an agent i've had contact with for a couple of years now,he sells in south as well as turkey,spain etc,i was half tempted to look at some of the places in south,when i came back and told him of what i was buying and for how much he said-blimey thats even better value than egypt!he told me he had considered and been asked to sell in the north but had thought better of it,what with all the problems with deeds etc and maybe he may think again about it. I've always considered myself a contrarian investor,i would prefer to invest when the skies are darkest,ie-credit crunch,ongoing talks,orams case etc. In my view if these items were sorted out most people would have missed the boat if they were trying to maximise profits,i've just decided to buy a holiday home in NC because we are at a time in our lives where we can holiday many times in the year now,theres no where else i'd like to own a 2nd home,it'l be good if it goes up in value,but not essential.

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
29/06/2009 09:10

Hi....quite agree with thread one.....now the first block is complete, ( completed last week ) I have had buyers for 3 apartments over the last 3 days.....buyers want completed property...as advised on this site.



( two are Turkish...one English / Indian looking for investment )



Seems, if it is complete, and offers great value for money...it will always sell

mixie


Joined: 16/05/2009
Posts: 302

Message Posted:
29/06/2009 09:25

The key question is what is great value for money?



It is so difficult to answer that one as most of us have for experience the market back home. I think you have to completely wipe that from your thoughts and look at things afresh.



Most houses here do not have the same high building and material standards of the UK. Many homes are blighted with damp problems because of ineffective building practices. Yes they may have marble floors and high spec this and that but who wants that if your house stinks of damp!



Yes the houses are very much better value than say Britain but its all relative is it not? Most houses do not have a DPC and lots of houses don't have central heating. The DPC thing would cost the builder literally pounds to put in but even if they don't do this but "tank" instead, because of the concrete structures of the houses virtually nothing can be done about the corners of the building.

And what do you do if you have a problem?

Are you not at the mercy of the bui

mixie


Joined: 16/05/2009
Posts: 302

Message Posted:
29/06/2009 09:27

Sorry last line should read



Are you not at the mercy of the Builder?



I take it that there is no equivalent of the NHBC in Cyprus either North or South?

Mixie

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
29/06/2009 10:52

WOW Mixie.....you have been hurt with damp!



Who was your builder?...on what site?

mixie


Joined: 16/05/2009
Posts: 302

Message Posted:
29/06/2009 13:21

Stewart,

No I haven't been bothered with damp but I when I went around to look at properties recently, I really couldn't get over how much damp there was. You wouldn't expect it would you?

Wish the builders would get their act together and start putting in damp protection at the beginning!



The awful thing is that you cant fix it after if happens. Well not without huge expense and bother.

Mixie

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
29/06/2009 14:36

Dear Mixie...glad you have not been caught out by damp problems.....it shows up the cowboy builders...so, in a way....it is a good thing...providing you did not buy off plan...if you did, do not pay up untill rectified ( problem...you will only find out after the rains )



Great value for money.= £ per sq mtr of living space + maintenance charges / reliabilty of builder + quality of build V return on your investment.



a formulae that has looked after me.

mixie


Joined: 16/05/2009
Posts: 302

Message Posted:
29/06/2009 15:57

Guess we will all have to wait an see if this has been a good investment or not!!!!

Mixie

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
29/06/2009 16:32

dear Mixie



Not sure what or where you have bought....I get over 25% return per annum / 15 months on my investments

mixie


Joined: 16/05/2009
Posts: 302

Message Posted:
29/06/2009 16:34

Gosh

You sound if you are a bit of a financial whizz kid. How do you work out how much return you get?



Instruction please for the mathematically challenged.(mind you I am only mathematically challenged)

Mixie

cyprusairsoft



Joined: 22/06/2009
Posts: 2066

Message Posted:
29/06/2009 17:27

No I haven't been bothered with damp but I when I went around to look at properties recently, I really couldn't get over how much damp there was. You wouldn't expect it would you?



mixie damp conditions always happen when you have high humidity and lack of damp prevention



simple tar based coatings around the concrete below ground level on footings and above ground would help to eliminate most of these problems and even better proper dpc around the house

mixie


Joined: 16/05/2009
Posts: 302

Message Posted:
29/06/2009 17:42

Hit there,

Husband is a builder and says that due to the concrete construction of the houses, putting a standard damp proof course would be difficult to do but not completely impossible. He also was of the opinion that the tanking process probably would be the best option if the houses are built on earthquake foundations.



In any event most houses which are built with the contrete method are likely to have difficutly with damp in the corners because nothing can be done there as the steel re enforcing rods are the basis of this construction method and tanking cant be done there. I am waffling a bit but when he says it it does make sense to me but he's not here to give me the proper explanations.

Mixie

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
29/06/2009 17:48

Dear Mixie...was going to email you off thread, but your address is hidden....so in simple terms



In month 1, buy off plan for £40k ( 20% deposit ) = 8k, during the next 10 months pay the remaining 32k in stages....so within 11 months you have paid the 40k ...in installments



upon completion, month 11 or 12, sell for £50k ......over 25% return as most of your money has been invested for less than a year....simple maths

Jimmyboy63


Joined: 16/03/2009
Posts: 400

Message Posted:
29/06/2009 18:31

simple maths..... but is property prices rising by 25% in 1 year?????

mixie


Joined: 16/05/2009
Posts: 302

Message Posted:
29/06/2009 22:35

Stewie,

Gosh you have got things worked out and for sure!



That really is quite clever. I am so rubbish at financial things like that but funnily enough do know the right side of a pound.



What you have explained is a good way to do it but you would need to have 3,000 plus each month to invest which is way beyond what I could afford.



But worth a second thought.

Well done

Mixie

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
30/06/2009 01:37

Dear Jimmyboy...oh boy ... oh boy



Prices are not rising by 25% a year...back to school with you.....25% is the minium I get, buying off plan...selling finished...complete with Electric and water connected....it is the premium people will pay...thanks to those on this forum who advise purchasers to buy completed property.



FYI just about to buy another 3 apartments



all further info...contact me via scw@freshice.net ( subject : NC )

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
30/06/2009 01:43

Beware there are dragons out there! Don't believe all that is posted.

ozankoys


Joined: 20/06/2008
Posts: 905

Message Posted:
30/06/2009 08:01

Hi Stewart

Impressive accounting but what development here goes from off plan to finished with electricity & water in 12 months?

Pixie


Joined: 18/03/2009
Posts: 489

Message Posted:
30/06/2009 08:39

When you think about it stewart is right, In fact in Turkey people are making much more than 25%. They are buying offplan then selling up once the site is finished. Our ex landlord bought the house we were renting for 180 000 tl then he receieved offers in excess of $260 0000 while we were living there.



Also larger flats in our compund were bought for 220 000 euros then resold for $600 0000. The area Im talking about is Gokturk in Istanbul.



Even if you buy a normal apartment the price always goes up in 6 months, I have friends who dont even rent out, they just buy and sell.



There are many new areas being built into compounds etc, the trick is to wait awhile, once the site becomes sold out you always find a few people willing to pay that little bit extra in order to purchase.



We were thinking of buying flats and renting them out, but stewarts proposal sounds better.



I will be getting in touch with him in a few months to see what his advice is.

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
30/06/2009 08:50

If something sounds too good to be true......etc , etc

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
30/06/2009 11:46

Dear Ozankoy.....the developer I buy from, currently has two developments, one will be completed in 9 months...the other in 18 months MaX....he has ALWAYS delivered on time......if serious, contact me via my email address ( subject NC else it will be auto deleted )



I would recommend...get a few freinds together, buy in bulk, better discount....better returns ( ie 33% )

Sounds to good to be true....of course it does...but it works for me and my clients

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
30/06/2009 11:53

Dear Pixie......if you have £15k....I have an investment idea for you ( you deal direct with the developer...I get no commission )



contact me via scw@freshice.net ( subject NC )

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
30/06/2009 15:21

Now what did the snake in The Jungle Book say with his eyes spinning hypnoticly? Oh yes, "Trust in me......Trust in me..."

cyprusairsoft



Joined: 22/06/2009
Posts: 2066

Message Posted:
30/06/2009 16:51

another sold today yippee we are on a roll god bless trnc kktc

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
30/06/2009 17:43

WOW Hector...you really have a problem with me trying to help others to get on....perhaps we should meet up when I am there in the summer...then make up your mind?



Whilst trying to imply that I am some sort of snake, not to be trusted, not sure how the Forum Admin team let this one pass?

cyprusairsoft



Joined: 22/06/2009
Posts: 2066

Message Posted:
30/06/2009 17:46

yep i am with you on that stewart



sounds like an insult to me

woko01


Joined: 16/06/2009
Posts: 26

Message Posted:
01/07/2009 13:23

hi ther i want to sell my appartment on palm bay view see view penthouse fully furnished not got my deed yet but still want to sell it could you please advise me if you can many thanks

Blackpoolfan


Joined: 03/12/2008
Posts: 1568

Message Posted:
01/07/2009 13:33

Stewart,

Ignore cronos, people like him who mock and slag off get on my tits no proof, no idea, and no brain. Put on gods earth for one sole purpose to be a NAUSE...........

Aussie


Joined: 17/06/2007
Posts: 657

Message Posted:
01/07/2009 18:04

In my experience off the plan purchases only provide a fast return on your money in a rapidly rising market.



You have to factor in transfer and stamp duty minimum of say 3.5%, agents fees 5% interest on your money during construction and sale etc, which erodes any profit made.



Also when you sell you are only an individual with limited marketing/ advertising expenditure compared to the developers with huge budgets and marketing teams so its difficult to get as high a sales price in a market where there is plenty of completed plan off the plan property available.



Never depend on making a quick profit in property as it can never be relied upon. Most profits are made over the medium to long term.



Aussie

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
01/07/2009 18:14

Dear Woko.....I never touched Palm bay when offered 2 years ago..But...how many bedrooms...what price you looking for, what is the monthly maintenace charge?

cyprusairsoft



Joined: 22/06/2009
Posts: 2066

Message Posted:
18/07/2009 18:11

it might be a little slow but houses are moving good news for the trnc



if your thinking of buying go for it a peacefull solution is now looking very distant see forum posts on 44 and

dont be put of by gc scaremongering dont forget they have had 34 years or more to perfect that.



go for your dream home and help the trnc to be recongnised