North Cyprus Off plan Property

Off plan literally means selecting a property just off the architects’ drawing board or from the three dimensional presentations prepared by the builders. We at North Cyprus Properties have a wide selection of Off plan property in North Cyprus to choose from.

The normal schedule to build an ‘off plan property’ varies a little but is generally between twelve to eighteen months. The build schedule of the Off Plan property is stated in the legal contract when buying the property with a variation of one to two months due to any unforeseen circumstances.

In 'off plan' type of property purchase agreement the invested capital of the investor grows during the build phase. The longer it takes to build your property in North Cyprus better the returns; as you as an investor pay a fixed payment according to your payment plan.

When buying 'off plan property in North Cyprus' the builder normally allows the buyer to transfer the contract into a secondary buyers name if a minimum payment of twenty five percent has been made. The profit made over resale property in North Cyprus is not liable to any capital gains tax; as per law of Northern Cyprus.

But most of our clients prefer to hold on to their property in North cyprus; as the prospects of increase in value 'Off Plan property in Northern Cyprus' are very great, as North Cyprus is becoming fast the choice of property investors.

If you are looking for excellent off plan properties in Northern Cyprus then visit our North Cyprus property section; where you have a huge selection of these 'off plan' properties.

Many would be purchasers think about buying property off plan. The following is a rough Guide to buying off plan property in North Cyprus.

Advantages

Investment Factor - If you purchase early in the construction phase you will often be paying less. Initially the prices are set below market value to attract investments, which help the promoter finance the construction
You Can Personalise The Property - The builder will often let you choose your own colour scheme for walls, marble, tiles etc..
Early Purchase - If you purchase at an early stage it is also possible to choose the best properties i.e. with the best location and views
Availability - The offer of off-plan properties is at the moment very good with a lot of different options available in North Cyprus
Guarantee - New buildings include a 5 year guarantee structural guarantee

Disadvantages

Seeing the Property - When you buy off - plan you will not be able to see the property until the completion of the construction.

Time - To be able to get a good and cheap property under construction you will have to buy early, which of course means that you will have to wait 12 to 18 months before your property is delivered.
Delays - A number of all new constructions in North Cyprus are delayed.
Bankruptcy - The point many buyers fear is that the constructer goes bankrupt or that the qualities of the property are not according to the information given before the purchase.

OK, So What Do You Actually Do?

North Cyprus has its own special challenges but if we were going to buy off-plan this is what we would do – and of course we at the North Cyprus Consultancy have on our books developers who have off plan projects that meet our guide lines.

• We would make sure that the developer was not new to the market and had previously built properties which we would inspect and confirm the build quality of the properties was to an acceptable standard.

• We would make sure the land was owned by the developer

• We would have a lawyer who was not connected to the Developer

• We would have staged payments

• We would assume that one day any empty land close to us would be built on, and take this into consideration with regard to views etc.

• We would make sure that we had someone in North Cyprus who was looking after our interests (such as taking photos for us of the ongoing construction). Of course The North Cyprus Consultancy provides this service for you at no extra cost if you purchase through one of the developers on our books

This is only a brief summary of some of the things you need to think about when buying off –plan. Please do your homework before buying off plan.

We have on our books future off plan properties which range from 2 bedroom Apartments in Lapta, Kyrenia starting at £35,000 to Luxurious Villas up to £400,000.

Click to chose from our current off plan properties in Northern Cyprus for sale.