Where would you buy in TRNC?

kyreniagirl


Joined: 01/01/2009
Posts: 51

Message Posted:
19/07/2009 09:41

Hi. We have a 3 bed apartment in central Kyrenia & are thinking of purchasing another apartment elsewhere. Don't want a house/villa due to maintenance but would consider a unit in a complex with communal pool etc. I'd be interested in members views as to where the best place would be. It needs to be good area for holiday lets so not too remote. Any suggestions gratefully received. Thankyou.

nurseawful



Joined: 06/02/2009
Posts: 5934

Message Posted:
19/07/2009 10:11

Lapta really lovely but no water, so not here.

loslobos


Joined: 02/04/2009
Posts: 167

Message Posted:
19/07/2009 10:18

Try Karsiyaka, no water either

smithy


Joined: 17/07/2008
Posts: 5301

Message Posted:
19/07/2009 10:48

Whatever and wherever you buy you have to pay maintenance and in an APT it usually works out a bit more, we have a Treasurer who everyone pays a monthly standing order, and without him collecting the money in each month you wont have the high standards that we have managed to achieve, plus spare money in the kitty for extra's.

Sheila

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
19/07/2009 12:00

I wouldn't buy. There is little rental from holiday lets, due to a shortage of tourists. Lack of water as you can see is a problem. Go through the threads and see how many people have still not got their title deeds after many, many years, despite having paid in full.



The lawyers are ineffective and accept the present system and do little to nothing to support their clients rights.There are unfinished houses dotted all over the island mainly due to builders taking the money and not completing. Contracts are not worth the paper they are written on.



Then when you have experienced the above there might be some GC waiting to cease your assets in England.



TRNC is a beautiful place with much to offer but until the government and construction industry get their act together it is never going to be a safe place to buy or a good investment.



People see no further than "what a bargain" because the houses are cheap. They need to ask why?

barnaclebill


Joined: 12/12/2008
Posts: 303

Message Posted:
19/07/2009 12:42

Bradus ,

If you read Kyreniagirls post she already has an appartment here in the TRNC so why are you preaching to her about the rights and wrongs of buying.I also take it that your reply is your humble opinion as I have had a villa ,had the deeds,sold the villa and have an appartment which since the day I bought it has been rented out about 90% of the time.The main rental market is with the people who come here prior to their properties been finished and it is quite a boyuant market.Before anyone asks yes the rental is declared to the tax man.Just for once I would love to see someone come on here and tell someone else of their positive purchase .Surely I cant be the only one that 5yrs ago bought through the internet and ended up with the property on time (2yrs) and deeds in 3(yrs).



Kyreniagirl do your homework as I am sure you did on your first purchase,look for complexs that are totally finished,purchase resale,preferably fully furnished and pitch to the new homeowner

ricky


Joined: 26/01/2009
Posts: 294

Message Posted:
19/07/2009 12:54

Hello Tina,

Sahara Oasis Alsancak, nice. 1 bedroom, 2 or 3. Communal pool.

kyreniagirl


Joined: 01/01/2009
Posts: 51

Message Posted:
19/07/2009 12:59

Hi.Thanks everyone, yes we have done holiday lets fairly successfully in Kyrenia in the past. Thankyou for your sugestions.

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
19/07/2009 13:11

Barnaclebill...msg 6



Of course it is always good to hear when someone like yourself has had a positive experience in the TRNC property market.



I must say though that when you bought( 5 years ago) was a bit of a watershed,and the TRNC seem to have moved the goalposts quite a lot since......particularly in the last 18 months to 2 years.



The system IS heavily discriminatory towards us foreigners.....they are more than happy to have a "legal" process whereby we can pay in full for something that we may never legally own.



I know it happens the world over......but particularly in TRNC the old adage BUYER BEWARE cannot be emphasised enough.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
19/07/2009 13:18

I think the market has changed considerably in the last five years. Few problems were associated with getting deeds and PTP then. Also less development going on, now everyone seems to have jumped on the band wagon hence some of the poor quality builds and the many unfinished ones. Obviously the credit crunch has also had a bearing on the present market and the amount of holidays people are taking.

I also think that the amount of people renting property whilst looking to buy or awaiting completion is on the decline. I was talking recently to waiters who suggested that most of their hotel business came from people looking to buy or checking the progress of their purchase. They blamed the present decline in the building industry, on poor hotel occupancy.



Yes my reply is my humble opinion. I am happy you've had a "no problem" purchase and am aware that many buyers have the same good experience as you. However people also need to be aware of the common problems that others experien

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
19/07/2009 13:31

Hi....thanks for youe reply re Holiday lets / long term rentals, can you contact me off thread



scw@freshice.net



thanks

barnaclebill


Joined: 12/12/2008
Posts: 303

Message Posted:
19/07/2009 13:52

Dear Cronos & Bradus,

Thank you for having the decency to reply to my humble opinion and I agree in the whole with what you have to say,however it just seems to me that whenever a serious question is asked by a potential purchaser they are bombarded with doom and gloom.Surely it would be more beneficial to steer these people to the more reliable people we have had dealings with since we have been here.Give them a positive view and yes a negative view then at the end of the day it is them that are making the choice on a more balanced view of the situation.

I myself now rent in the TRNC and in the future will split our time between the UK and the TRNC In the 5 and a bit years we have been there we have only met 4 TC / Turks / foreigners that i would have no hesitation warning people of if the situation arose. So for us a pretty positive expierence,hopefully one day it will all be settled and everyone will enjoy the real TRNC.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
19/07/2009 13:55

Barnaclebill,



Yes my hopes are the same.



Kind Regards

Bradus

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
19/07/2009 14:15

Barnaclebill...msg 12



I'm sure we have more in common than our initial posts would suggest,and I thank you for your balanced reply.



However,unfortunately no amount of careful research into finding the right estate agent,the right property,the right builder and the right solicitor will overcome the problems that all us foreigners face in dealing with a biased and discriminatory system.



I'm glad to hear that you managed to sell at the right time after getting your deeds,and you can now enjoy the TRNC as a happy renter !

andre 514


Joined: 31/03/2008
Posts: 1163

Message Posted:
19/07/2009 15:10

I think the north/eastern side has a lot in its favour if you like things natural

the only "problem" is that as you move from catalkoy through alagadi

to esentepe bahcelli tatlisu and kaplica where the road turns right over the mountains

what is "available" gets less and less just as the scenery is better and better



also it very much depends what you are looking for:

the expat enclave west of town known as laptashire, lots of new places built around bogaz etc

and how far you can "survive" from kyrenia itself, though holiday lets can come via larnaca



otherwise some brilliant contributions and perceptive comments on this thread

Struben


Joined: 17/02/2009
Posts: 68

Message Posted:
19/07/2009 15:40

We have a Kavanlar Apartment in Alsancak. Pretty good build, well kept by a Management tream. Alsancak is well situated, schools, restaurants supermarkets etc. very nice beaches, Golden Bay, Denizikzi. Got over most of the teething problems when buying new build, which is important. Situated not far from Atakara Supermarket. There are a few for sale here. We have been in for almost a year. All in all very happy here.

briggus


Joined: 25/07/2007
Posts: 161

Message Posted:
19/07/2009 16:09

Have you thought about the Famagusta area - there could be student lets as well as holiday ones. If and when their is a settlement on the island - I would imagine this areas will see an increase in demand for properties - epecially as the re develop the deserted area for tourists to take advantage of the lovely beaches.

andre 514


Joined: 31/03/2008
Posts: 1163

Message Posted:
19/07/2009 22:56

briggus,



very good point, imaginative suggestion:



having been advised that famagusta is "ghost town" I found it absolutely buzzing



with an exhilerating feel to be sure and heavy traffic



there is a festival in june, historic ruins nearby and it is well-sited for the future



also if people ever need to arrive via larnaca it's a short and easy journey



there seem to be a number of low rise developments along the seacoast just north

kyreniagirl


Joined: 01/01/2009
Posts: 51

Message Posted:
19/07/2009 23:41

Well, such a lot of good advice, thankyou all so much. Much food for thought. Will post what we eventually decide. Thanks again.





Stewart - I did e mail you off message - but no reply. Did you get it? How can I help?

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
20/07/2009 10:39

Hi....your email did not seem to get through....could you please resend to

scw@freshice.net

kyreniagirl


Joined: 01/01/2009
Posts: 51

Message Posted:
20/07/2009 19:32

Hi Stewart - I have just sent again.

Sunbug


Joined: 28/04/2009
Posts: 208

Message Posted:
21/07/2009 11:30

Hello there, if you are looking in the Girne area, an inexpensive 3 bedroom exchange title re-sale unit would be my best bet. Easily rented to 3 students as long as location is ok. Low maintenance cost or none as no pool or garden. If already furnished great if not, buy inexpensive second hand and rent for 1-4 years to students on approx 300-350.- GBP/month basis. I have two such units if you are interested 45.000 & 55.000 GBP respectively. Another option would be foreign holiday rental central location with but still with view of seaside. As close to city center (15 min walk) guests would not necessarily need a rent a car. For example: 2 bedroom, brand new furnished lovely penthouse unit with large terrace, incl. all white goods and aircon. as well, Turkish title deed, 55.000 GBP. If you like, send me you e-mail or telefon number and I can contact you directly.

Sunbug


Joined: 28/04/2009
Posts: 208

Message Posted:
21/07/2009 11:31

Hello there, if you are looking in the Girne area, an inexpensive 3 bedroom exchange title re-sale unit would be my best bet. Easily rented to 3 students as long as location is ok. Low maintenance cost or none as no pool or garden. If already furnished great if not, buy inexpensive second hand and rent for 1-4 years to students on approx 300-350.- GBP/month basis. I have two such units if you are interested 45.000 & 55.000 GBP respectively. Another option would be foreign holiday rental central location with but still with view of seaside. As close to city center (15 min walk) guests would not necessarily need a rent a car. For example: 2 bedroom, brand new furnished lovely penthouse unit with large terrace, incl. all white goods and aircon. as well, Turkish title deed, 55.000 GBP. If you like, send me you e-mail or telefon number and I can contact you directly.