Rental prices on the up and up.TRNC

Deniz1


Joined: 28/07/2009
Posts: 3829

Message Posted:
06/09/2011 18:04

Having sold my house i am now debating shall i buy or rent. Looking at all the ads on here some of the monthly rental prices seem to be exhorbitant. How to pay that every month with bills on top is beyond my pocket so guess i will have to buy again. Maybe its because the housing market is dead so rents have risen.

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
06/09/2011 18:09

Deniz



Having sold your house, put your money in the bank and use the interest to pay your rent - simples



There are plenty of cheap(ish) rentals about - it has got to be safer than buying !!!



Paul

tarry67


Joined: 16/05/2008
Posts: 1053

Message Posted:
06/09/2011 18:33

I agree some of the rental prices that people are asking for is crazy, that's why they stay empty for months on end. If they dropped the rent then at the end of the year they would at least have some profit in the bank. Trouble is many think they are still in the uk when they ask for these high rentals, but someone will pay it and the cartwheel goes on. Also you must understand that once the agents get hold of them they raise the prices so they can get their high cut every month.

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
06/09/2011 18:44

I would say that renting here is very cheap....ie... nice 2 bed apartments from around £250 pcm

Deniz1


Joined: 28/07/2009
Posts: 3829

Message Posted:
06/09/2011 18:58

If you are lucky to find one £250 per month. One on here today a two bed aprt was £400 per month. I also worry about a secure tenancy i dont want to keep moving if the owners deicde to sell. Also to get £250 a month interest you would have to put a lot of money in the bank and you can never withdraw any or the interest for the rental goes down.

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
06/09/2011 20:22

Deniz



In order to get £250 a month interest you would have to deposit around £40,000 in a TL account. As regards a secure tenancy, nothing in the TRNC is ever secure but get it written into the contract that you require a minimum of 2 months notice before the contract can be terminated.



As Eager says there are cheap rentals around, you just have to look for them. It has to be a better option than taking the risk of buying !!



Regards



Paul

tarry67


Joined: 16/05/2008
Posts: 1053

Message Posted:
06/09/2011 20:23

There are not any 2 bedroom flats for £250pm in the Lapta/Alsancak area. You may find the odd unfurnished matchbox on a site that has little or no maintenance. Maybe I have been looking in the wrong places.

An agent on this forum has properties for rent but have you seen the prices they are asking?

I don't think they realize that there is a world recession on at the moment.

lindsay


Joined: 19/04/2009
Posts: 257

Message Posted:
06/09/2011 21:19

check my 3 bed properties in Lapta [close to ocean] just posted today ... thanks lindsay

Deniz1


Joined: 28/07/2009
Posts: 3829

Message Posted:
06/09/2011 21:43

Fine if you want to live in Lapta i dont.

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
06/09/2011 21:50

Deniz,



Would you e mail me please @ brod@brod.karoo.co.uk,



regards,



Paul.

rejela


Joined: 09/02/2011
Posts: 293

Message Posted:
06/09/2011 22:09

When you compare the rental price for an average property here, to the price of a weeks car hire for an average car, the property rental is much better value for money.

An average flat @ £60,000 investment gives a monthly rental income of £250



An average rental car @ £20 / day = £140 / week



Now consider the capital tied up in each.



A months car rental could cost you £560, yes i agree you could get a better rate for a months car rental but the property rental prices are low here. In the South rental prices are way up in the high hundreds.

Deniz1


Joined: 28/07/2009
Posts: 3829

Message Posted:
06/09/2011 22:19

So £400 per month for a 2 bed apartment is not considered high then? Or is it just me?

rejela


Joined: 09/02/2011
Posts: 293

Message Posted:
06/09/2011 22:30

I think you will find that £400 / month is quite an average rent in the North in 2011, as i said in my last post its better value for money than a hire car, in my book that is.



You have to take into account that the Girne area is a touristic location. How much would a two bed apartment cost in touristic location in another country?



Spain etc.

maggie71


Joined: 20/12/2010
Posts: 2

Message Posted:
07/09/2011 03:52

I am looking for a property to rent, long term, preferably a bungalow, with garden. Dont care if it needs a bit of decorating etc. I am willing to do this. Must be reasonable rent. I am a good payer, (always pay up front) and will look after property as if it were my own. Refs. supplied if required.



Maggie

charlie15


Joined: 23/04/2008
Posts: 131

Message Posted:
07/09/2011 08:26

Maggi & Deniz. Can you post contact details if this interests you.



I have a nice 3 bedroom, ground floor apartment with garden in Kyrenia, near the Blue Rose. £330 per month.

itfc1978


Joined: 31/03/2009
Posts: 187

Message Posted:
07/09/2011 08:32

Paul



Really depends on who you buy from



Mike

nicola


Joined: 06/09/2011
Posts: 246

Message Posted:
07/09/2011 08:35

what should I expect to pay for a 3 bed house in north cyprus, I pay £750 here in Lisbon

Wiser


Joined: 30/07/2008
Posts: 796

Message Posted:
07/09/2011 08:48

We have a few properties for rent including a bungalow in Alsancak that can be viewed on http://www.cypruswiseproperty.com I do have a lovely 2 bed in Ozankoy for £325pcm. If you have any queries you can call me on 0533 848 5152, best regards Lydia

TRNCTed


Joined: 30/06/2011
Posts: 29

Message Posted:
07/09/2011 10:58

£400 is rather high for a 2 bed in my experience. I have not long moved out of a 2 bed 2 bath which was £250 into another apt, this time 3 bed 1 bath for £250.



They are there but it's just finding the right person to speak to. I did it by asking friends who asked their friends etc and it worked for me.



Anyway, good luck Deniz

TigaTrading


Joined: 25/06/2009
Posts: 186

Message Posted:
07/09/2011 11:01

Hi Linda,



email me, valeriedevlin@rocketmail.com, I would have emailed you but your email is hidden.



Regards

Val

lindsay


Joined: 19/04/2009
Posts: 257

Message Posted:
07/09/2011 11:29

reply to DENIZ 1. coment , LAPTA PINES ,300meters walk to sea . with ocean, and mountain views . they are £325.00 per month [almost new] fully furnished ] well maintened common areas beautifull pool , very quiet even in summer ... both have very large private walled gdns ... available for about 8months at this moment ....if anyone interested email me direct mrburpi@hotmail.com lindsay

lindsay


Joined: 19/04/2009
Posts: 257

Message Posted:
07/09/2011 12:36

reply to nicola .... i have a huge 3 bed villa 300 metres from the sea , in Lapta . with 6 car parking double Garage and 10x5 metre pool ... not more than 4 years old with al mod cons . .. it is unfurnished .. very impressive house with balcanies and patios .... i will rent that to you for what you you are paying in portugal .?.. not sure exactly of the availability day,month as yet , but email me direct mrburpi@hotmail.com...just a note , trnc rents are absurdly low based on any purchasers investment .when i hear stories that knowone wants to pay more than £250 for a two bed apartment in a decent locaionwith poo access. it makes me cringe .considering the 'iffy; highly risky business of getting a property actually completed and then waiting 4 years for the deeds . not knowing if you will ever actually get them, as often a motrgage is sitting on the land from the bank that knowone ever tells you about [not even the solicitors ] then when it get close to a completion date,more s...t

lindsay


Joined: 19/04/2009
Posts: 257

Message Posted:
07/09/2011 12:44

cont..... hits the fan like another bank sees fit to put leins on your property as your developer builder owes money to them from a differnt project !!!!!... what kind of a place is this ???? its a wonder that anyone in their right mind would buy property here to receive minumal rent and see little value increases on the investments .... like someone wrote earlier ... take your money buy ytl [now extremey low. ] and get your 8% on it ..money always available [if the bank doesnt go down] no issues, with property running costs ..no complaints from tennants , sleep at night .. no worries about gc.s laying claim to your property ...yup .... if id have only known ....

Diogenes


Joined: 12/11/2008
Posts: 139

Message Posted:
07/09/2011 13:55

Hi, I have small 1 bedroom air-conditioned apartments for long term rent in Lapta.



They are £150 per month. If you are interested contact me on: eromar83@gmail.com

dublinderm


Joined: 26/09/2009
Posts: 538

Message Posted:
07/09/2011 14:06

I have a three (3) bed ground floor apartment with a shared pool coming available in November. It is in Alsancak near to shops, pubs, and restaurants.



£275 PM for long term (6 months or more).



dermotnduggan@gmail.com



How is that for value for money???



DD

tarry67


Joined: 16/05/2008
Posts: 1053

Message Posted:
07/09/2011 14:30

DD

Is the apartment furnished and inc of maintenance costs.

mamachina


Joined: 22/11/2008
Posts: 730

Message Posted:
07/09/2011 14:31

I have a 3 bed, c/h, pool and garden villa in Incesu (Alsancak) £350 a month, of which £50 is for care of pool. It is with North Cove agents. Oh yes, its unfurnished apart from white goods - at the moment,- and some curtains. Current tenants leaving by November and will have all their furniture for sale. We do a 6month let and after that 2 months notice on either side.

dublinderm


Joined: 26/09/2009
Posts: 538

Message Posted:
07/09/2011 15:00

Hi tarry67,



Part furnished. One double two single beds. Sofas, dining suite, all white goods. AC in main bedroom & living room.



You only pay for your water and electricity. All other charges are covered by the rent.



dermotnduggan@gmail.com





DD

blade


Joined: 19/06/2010
Posts: 1286

Message Posted:
07/09/2011 15:24

No bank in the Uk would lend you money on a return of 250 per month for 60k, you cannot be serious. The buy to let market here is a joke.

brend


Joined: 20/01/2009
Posts: 149

Message Posted:
07/09/2011 15:31

Hi Linda

If you don't get fixed up before end of October I could probably help you for 6 months.

Brend

Jetski


Joined: 21/07/2008
Posts: 584

Message Posted:
07/09/2011 19:44

Maggie71..... I have a 2 bedroom GF flat to let in Alsancak in an old house. £250 pcm. All white goods included and some furniture. A/C and parking available. You can redec if you like, the cost will be taken from the rent. There's no garden to worry about but if you're that keen my mum has a huge garden over the road you can potter in!



Call 0542 8843774

Deniz1


Joined: 28/07/2009
Posts: 3829

Message Posted:
07/09/2011 21:00

Msg 30 Thanks Brend i have somewhere to go when i leave i just have to decide what i will do after that. I was after a 1 bed on phase 1 but it has been sold just my luck!

brend


Joined: 20/01/2009
Posts: 149

Message Posted:
07/09/2011 21:28

No probs Good luck

Brend

Deniz1


Joined: 28/07/2009
Posts: 3829

Message Posted:
08/09/2011 06:27

Why compare buy to rent to the uk? It is not the uk and never will be. Totally different economics here.

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
08/09/2011 15:38

Mick



Re message 16



Point taken. You know my thoughts on buying here ............ a bit too risky for my taste ;-)



But the best of luck to all those who have bought both with and without problems.



Regards



Paul