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T.R.N.C: Expatriates’ Property Secured.

August 24, 2020

Big win for expats, auctioned properties returned to the rightful owners

The expatriates who bought their properties on the island and due to some reasons and now then COVID-19 faced uncertainty of losing their hard-earned assets because of unpaid loans taken out by a developers have won a legal case and their properties have returned. Retired soldier David Eacock, 73 and wife Margaret, 75, said they were “overwhelmed” by the verdict announced by Presiding Judge Aysen Toroslar at Gazimağusa District Court .

Expatriates have won a legal case that reverses a 2016 court order for their homes to be auctioned.

The couple bought a property off plan at a site in Yarköy — a £122,000 four-bedroom villa on the Ersav development – in 2008. The Eacocks, from Devon, paid Ersav Construction a total of £96,000 but stopped further instalments after discovering that a“memorandum” had been placed on the property over a £500,000 debt owed by the developer.

Advocate Hasan Alkan represented the couple and another expat property buyer on the site, Ray Hinks and his wife, Patricia. Mr Alkan said: “The judge canceled the court order allowing for a public auction. A new legal process will now be started that will include the property buyers.”

Mr Eacock said: “Myself and Margaret are very relieved. It has been like a legal rollercoaster ride for the past 10 years, not knowing what will happen to our properties, for something that has happened out of no fault of our own.“It is indeed a fresh start for us. We were never aware of the existence of the memorandum.

“We wish to thank Mr Alkan for his tireless efforts in helping us. He has a long and successful track record supporting expats and is a much-respected advocate both within the legal profession and among the countless clients in need of good support.”

Mr Alkan said that the basis of the case is “the 2007 Estate Agents Law making it obligatory for homebuyers to register their sales contract against the title deed. But the law does not set out the rights of buyers thereafter, which have been left to the courts to decide.“The title deeds office has informed me of many more auctions, mainly [relating to] foreign buyers who may not even be aware that the properties they bought are going to auction.

“This was the case [for the Eacocks] and it is important that foreign property buyers seek legal advice and apply to the courts to get declaratory judgements, because the title deeds office is not competent in determining the rights of buyers.“In the Eacocks’ case . . . we had contended that the contract of sale was registered way before the memorandum was placed on the property and that the title deeds office, by accepting this [memorandum], had made a mistake.”

A relieved Mr Eacock said: “We registered our sales contract under the Estate Agents Law and did everything properly. Then a memorandum was placed on the property. Isn’t the whole point of this law to stop all of this from happening?”

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Northern Cyprus Opens Its Door To Brits..

August 20, 2020

Now British expatriates are able to return to Northern Cyprus as from the last week, the British families have already check in at Ercan Intentional Airport – provided that travellers need to produce three coronavirus tests to be allowed an entry and enjoy the holiday on the island.

This news follows the latest announcement from the rest of the island that quarantine restrictions will end for Brits from August 1. The Turkish Republic of North Cyprus (T.R.N.C) is keen to welcome Brits back. The south usually lures 1.3 million British tourists every year.

As from July 16, UK arrivals at Ercan Airport will have to first show a negative PCR test, which was taken between three to five days before arrival. Following this, a second test will be conducted, followed by a seven-day quarantine, and then a third test. Only then will Brits be able to enjoy a normal holiday on the island. These new rules are for British tourists which have been put into Category B by Cyprus, a system which rates the country’s risk of infection.

Category A countries will not have to quarantine after showing a negative PCR test, while Category C countries will have to do all three tests and a 14-day quarantine. There are cheap deals for Brits opting for a Cyprus holiday, with seven night package deals from £409pp and last minute flights from £175pp. Cyprus was included on the UK’s air bridge list, which means no quarantining when returning to the UK and no travel ban. However, restrictions still remain in place at Cyprus, and will until the UK’s coronavirus cases go down.

Northern Cyprus’s health minister Ali Palli has recently confirmed three new cases of coronavirus from tourists – two flying in from Turkey and one arriving by ferry – raising concerns of “imported” cases ruining the success Turkish Cypriot authorities have had in containing the virus.

But the island’s Greek run south – in a bold attempt to outshine the north – has said it is also offering free rapid coronavirus tests for UK travellers flying into its two airports in Larnaca and Paphos. Other countries are charging for the coronavirus tests, such as Austria, with tests priced at €190. Heathrow Airport is also looking into 24-hour coronavirus tests, costing £140 per traveller.


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Varosha Ghost-town Will Turn Into New Las Vegas.

August 14, 2020

The resort is inside the ghost city of Varosha: The buildings lie in an abandoned streets that used to be Cyprus tourism hotspot beloved by international celebrities such as Elizabeth Taylor and Richard Burton Spectacular images emerged of the city of Varosha in Northern Cyprus which has been abandoned since the early 70s.

The Turkish Republic of Northern Cyprus (TRNC) has announced that it intends to redevelop Varosha, a once-glittering tourist resort sitting on the border with the Greek. In a dusty corner of the island, on the frontier between the Greek south and the Turkish north, a large sign proclaims in black and white letters: “No Man’s Land, Stop.”

This is the United Nations buffer zone, a windswept strip of rock, scrub and coils of barbed wire that is patrolled by UN soldiers in white Landcruisers and blue helmets.Beyond that, on the Turkish Cypriot side of the border, lies a vast ghost town called Varosha, which has been deserted and fenced off since the conflicts of 1974. But Varosha, which is under the control of the Turkish authority, may not remain a ghost town for much longer.

The Turkish Republic of Northern Cyprus (TRNC) has announced that it intends to redevelop Varosha, once a glittering tourist resort that, in its heyday, attracted the likes of Brigitte Bardot, Sophia Loren and Elizabeth Taylor. The project promises to transform this surreal zone of abandoned hotels, empty apartment blocks and weed-choked streets into a booming Mediterranean playground.

Policies aimed at the reopening of the abandoned town of Varosha (Maraş) in Turkish Cyprus are on the right track, Kudret Özersay, the country’s foreign minister, has said in a written statement. Given recent developments and with Turkey’s support, Varosha could be opened to its former residents under Turkish Cypriot administration following the presidential elections scheduled for Oct. 11, Özersay said.

“Both the Greek Cypriot side and other international players understand that as long as we proceed carefully, our policy on Varosha will come alive and cannot be prevented,” Özersay said, adding that property rights will be respected. “When I put forward my vision of opening the fenced-off town of Varosha under Turkish Cypriot administration six years ago, there were people who laughed at it. Many actors and the Turkish Cypriot public now have started to support this policy,” he said.

Noting that he will pursue a proactive diplomacy in the international arena to realize this memorizing vision, Özersay said that he will always come up with an approach that generates new ideas on this issue and on other foreign policy issues.

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Hyatt Builds Its First Hotel In Cyprus.

August 12, 2020

Hyatt Hotels Corporation announced on 14 July that Hyatt affiliate has entered into a management agreement with Anolia Holdings Limited for the first Hyatt hotel on the island. The Grand Hyatt Limassol consists 300-room luxury resort and expected to open in 2025 and this signifies Hyatt’s continued growth into Europe’s leading travel destinations.

The new-build beachfront resort will be situated at a Blue Flag beach east of Limassol, one of the island’s most cosmopolitan cities. With a prime beachfront location on the southern coast of the island and 300 bold, light-filled rooms offering sea views, Grand Hyatt Limassol will be a captivating destination within a destination featuring a stunning 43,000-square-foot (4,000 square meter) beach club including premium spa and fitness facilities as well as an indoor pool and two outdoor pools.

The resort will additionally offer five elevated food and beverage concepts as well as 15,000 square feet (1,400 square meters) of event space. Furthermore, Grand Hyatt Limassol will be a key element of Zaria Resort, a mixed-use luxury development, comprised of residential apartments and private villas totaling more than 861,100 square feet (80,000 square meters). 

“We’re delighted to work with Anolia Holdings Limited to bring the Grand Hyatt brand, known for its access to iconic locales, to the island of Cyprus, one of the most popular tourist destinations in Europe,” said Takuya Aoyama, vice president development for Europe and Africa, Hyatt. “Grand Hyatt Limassol represents a key element of our growth strategy in Europe as we continue to seek opportunities to extend our resort footprint in the Mediterranean.”

Only a 30-minute drive from Larnaca International Airport, the hotel will bring with it the exceptional brand of luxury and vibrant design that the Grand Hyatt brand delivers to guests worldwide. Arriving guests will drive past the lush greenery of the hotel’s 150,000-square-foot (14,000-square-meter) public garden and promenades and enjoy a spectacular view of the Mediterranean. The resort promises to be a celebration of all the exquisite details of Cypriot culture, offering guests a stay beyond the ordinary through magnificent moments of more and superior service.

“We are thrilled to team-up with Hyatt on this development,” said Alexander Iakovlev, director of Anolia Holdings “The Grand Hyatt brand is synonymous with luxury and creating unique experiences for guests which remain authentic to the destination itself. In addition, given Limassol’s status as a financial capital of Cyprus, the hotel will not only attract leisure guests but may also prove popular for business travelers, conference-goers and event attendees. We are eager to see Grand Hyatt Limassol become the heart of the Zaria Resort development.”

The announcement of Grand Hyatt Limassol follows a significant expansion in Hyatt’s brand footprint in Europe over the last 12 months. Nine new hotels including Great Scotland Yard, Hyatt Centric Dublin, Andaz Vienna Am Belvedere, Hyatt Regency Chantilly and more opened in the region in 2019, with four more additions in Barcelona, Manchester and Frankfurt this year. These plans for a hotel in Cyprus represent a key opportunity in Europe as it builds upon Hyatt’s existing and upcoming portfolio in Malta, Athens Thessaloniki and Izmir. The island has furthermore proven to attract travelers from Hyatt’s key strategic markets including the UK, Russia, Greece, Germany and the Middle East.

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Guinness Family: Irish Ancestral Home.

August 10, 2020

Location: Luggala, Leinster, Ireland
Price: €28 million (US$31.2 million)
Status: Sold

The Irish ancestral home is belongs to Guinness Family and it looks like a small Castle in a wildness, the mansion situated in Luggala, Leinster, Ireland with 200 acres of grassland. This house was sold recently on the price tag of about €28 million.

Thirty miles south of Dublin, in the Wicklow Mountains, stands the ancestral home of the Guinness brewing dynasty. The Luggala estate is remarkable for both its natural beauty and its star-studded history: It has hosted many celebrated people in the literary, Hollywood and music industries who’ve been acquainted with the Guinness family.

Luggala, which reportedly sold recently to an overseas buyer for under its asking price, became the family’s ancestral home in 1912, when it was rented to Arthur Ernest Guinness, the second son of Edward Guinness, 1st Earl of Iveagh. He purchased it and passed it onto his youngest daughter, Oonagh, in 1937 following her marriage to Dominick Browne, the fourth Baron of Oranmore and Browne. A socialite and one of the so-called Golden Guinness Girls, she threw glamorous parties attended by an eclectic array of guests, from peers and scholars to artists and journalists, turning it into a hub of Irish social life, according to a brochure for the property.

Writers such as Brendan Behan, Robert Lowell, Seamus Heaney and Robert Graves and Hollywood types John Hurt, Dennis Hopper and John Boorman have spent time at the estate, as have Michael Jackson, Mick Jagger, Marianne Faithfull, U2’s Bono and The Chieftains. The latter were the guests of Garech Browne, a member of the Guinness family who became a patron of Irish arts and music through his record label Claddagh Records. He had owned and lived in the property up until last year, when he passed away aged 78.

The main house on the estate is a neo-gothic former hunting lodge built in 1787 by its first owner, Peter Le Touche, the son of a wealthy Irish banking family. Luggala lodge has the appearance of a castle in miniature, with white stucco walls, small battlements, pointed quatrefoil windows and ogee mantelpieces—a style that later became known as Strawberry Hill Gothic.

The grounds include 18th-century landscaped gardens, two Irish oak woodlands, 200 acres of grassland, Lough (meaning lake) Tay and 33 acres of a further lake known as Lough Dan. Sheltered by woodland, it lies in a gap between two mountains, facing a stout-colored lake overshadowed by a granite crag on one side.

Stats

The main property has seven bedrooms, five bathrooms, three reception rooms, a library, storage rooms and an indoor pool. There are more properties on the grounds, which together with the main house, extend to 19,099 square feet.

On the grounds there is a coach house apartment, a three-bedroom gate lodge, a four-bedroom house, a three-bedroom house, a two-bedroom house and four two-bedroom cottages.

Amenities

Extending to 5,000 acres, the estate’s grounds are home to waterfalls, exposed rocks, woodlands and stout-colored lakes. The Dan and Tay lakes are stocked with trout and arctic char and lake Tay features a white sandy beach.

Luggala’s grounds have been used as the backdrop of films such as “Braveheart,” “Animal Farm,” “Becoming Jane” and “P.S. I Love You,” and in “The Tudors” television series, which has added significantly to the estate’s income, according to the David Ashmore, managing director of Ireland Sotheby’s International Realty. From Penta: Christie’s Asia Week Will Feature Collections From The Art Institute of Chicago

Neighborhood

The estate is bordered on three sides by the Wicklow Mountains National Park, whose landscape is formed of peatland, heath-covered upland slopes, streams and deep lakes in wooded valleys, which feature open vistas.

Set in the Province of Leinster, it is five miles from Roundwood, a village with shops, pubs and restaurants, which include the Roundwood Inn pub and restaurant, a former hunting lodge with an “old Irish pub atmosphere.” Bray, a coastal resort and the largest town in County Wicklow, is 11 miles away.

Agent: David Ashmore, managing director of Ireland Sotheby’s International Realty.

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Qatar Ranked High Investment.

August 8, 2020

Qatar Ranked High on “Ease of Doing Business,” as Country Develops Fintech Friendly Policies, Launches Regulatory Sandbox.

Qatar has substantial capital that has been invested by local entities into the nation’s economy, which is more diversified than most other countries in the Middle East. However, foreign direct investment (FDI) may still serve a key role in developing the nation’s knowledge-based economy and also support an environment driven by technology, according to a report from Big Four auditing firm, PricewaterhouseCoopers (PwC).

Qatar’s free zones have introduced incentive programs to encourage large companies to launch subsidiaries in the country. The Qatar Investment Promotion Agency was launched last year, in order to support the nation’s economic development.

In June 2020, the United Nations Conference on Trade and Development (UNCTAD) had revealed that Qatar’s FDI inward stock surpassed $31 billion in 2019.

PwC has noted that Qatar’s economic policies, which includes macroeconomic stability and a pegged currency, are ideal when it comes to supporting local business development initiatives. The country also benefits from its relatively low level of business taxes, which are notably zero for local companies and only 10% for foreign firms.

As reported by the Gulf Times, the government in Qatar is trying to further improve its business environment in many key areas. The World Bank’s “Ease of Doing Business” report has revealed that the country is focused on making reforms in obtaining reliable credit, registering property and electricity or power management.

These reforms can potentially benefit local firms operating in many different sectors, including Fintech. There are certain guidelines and policies focused on supporting Qatar’s knowledge-based economy. Last year, the Qatar Central Bank’s (QCB) governor had noted that the institution will release a Fintech development plan, with regulatory guidelines and standards developed specifically to support innovative projects.

The QCB has also introduced its regulatory sandbox, and has invited businesses interested in establishing their operations to begin testing their products and services (including Fintech firms focused on digital payments).

The Qatar Financial Center (QFC) has said that Fintech will be one of its key areas of focus for ongoing development. PwC noted in its report that the country has introduced new tax laws which may be well-suited for Fintech businesses, while also supporting the country’s transition towards a knowledge-based economy.

As reported recently, Dr. R Seetharaman, the CEO at Doha Bank, says that cooperation between Qatar and Hong Kong in key areas such as digital commerce, supporting startups, and the development of Fintech platforms may strengthen bilateral relations between the two nations.

The Qatar Fintech Hub continues to receive applications, as the nation prepares for a cashless, knowledge-based digital economy.

Yousuf Mohamed al-Jaida, the Chief Executive at Qatar Financial Center, noted last month that the country aims to leverage the potential of the Fintech sector in Bangladesh, India, and Pakistan.Sponsored Links by DQ Promote




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Aphrodiate.

December 5, 2019

Aphrodite is the goddess of beauty, love, and sexuality. She is sometimes known as the Cyprian because there was a sacred cult center of Aphrodite on the island of Cyprus. Aphrodite is the mother of the god of love, Eros (familiar name as Cupid). She is the wife of the ugliest of the gods, Hephaestus. Unlike the powerful virginal goddesses, Athena and Artemis, or the faithful goddess of marriage, Hera, she has love affairs with gods and mortals. Aphrodite’s birth story makes her relation to the other gods and goddesses of Mt. Olympus ambiguous.

Family of Origin

Hesiod says Aphrodite arose from the foam that gathered around the genitals of Uranus. They just happened to be floating in the sea — after his son Cronus castrated his father. The poet known as Homer calls Aphrodite the daughter of Zeus and Dione. She is also described as the daughter of Oceanus and Tethys (Titans). If Aphrodite is the cast-offspring of Uranus, she is of the same generation as Zeus’ parents. If she is the daughter of the Titans, she is Zeus’ cousin.

Roman Equivalent

Aphrodite was called Venus by the Romans — as in the famous Venus de Milo statue. Attributes And Associations Mirror, of course — she is the goddess of beauty. Also, the apple, which has lots of associations with love or beauty (as in Sleeping Beauty) and especially the golden apple. Aphrodite is associated with a magic girdle (belt), the dove, myrrh and myrtle, the dolphin, and more. In the famous Botticelli painting, Aphrodite is seen rising from a clamshell.

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The Lost Paradise.

October 18, 2019

THE LOST PARADISE’ starring an artful Complex ”Renaissance Residence ” that located at resort area near the town of Famagusta on the seafront next to Long Beach. The residential complex is only ten minutes drive from one of the most popular resorts in Northern Cyprus – Bafra, where the five-star hotels Kaya Artemis and Noah Ark are built.

The complex provides an exquisite lifestyle that meets the requirements of the most discerning of buyers. An infrastructure developed with individual style, boasting unique resort services within the complex, focused on high-level luxury and comfort, with guest services only matched by the highest standard of hotels. Nowhere else in Cyprus can you find a setting quite like this; a quiet residential community both for holidays and permanent residence with natural landscape and pools, life-giving Mediterranean Sea within walking distance and fascinating historical places nearby.

Shopping, entertainment and health centre “Plaza” is a separate building that is located within the heart of the Residence and includes an array of services and facilities that are at the complete disposal of the owners and the tenants of the resort. Imagine start your day with a cup of aromatic coffee on the terrace of the Da Vinci Restaurant. Unique interior, rich selection of beverages, signatory dishes and many more whilst you relax within the atmosphere of splendor.

Profitable

The architectural and stylistic concept of the project, underlines the visual luxury and uniqueness of the Residence, attracting market demand. Therefore, benefiting the owners and their rental guests alike. The short term or long term apartment bookings will be provided by the company. The services in the rental program include A-Z support (cleaning, welcoming guests, booking support, check-in & check-out).

Life in Paradise

  • within a walking distance to the beach.

Profitable investment

  • up to 11% Return on Investment

International University

  • and all age group educational institutions nearby

Unique concierge services

  • to the owners and their guests

Luxury and exclusivity

  • to support the owners of the apartments

Relaxed life and comfort

  • to suite all life-styles

Absolutely safe

  • and healthy environment

Guaranteed

  • rental income

Favorable climate

  • 340 days of sun a year
  • Favorable and healthy climate all year round
  • Longest swimming season in the Mediterranean
  • Supported by best sandy beaches of the world

High Quality of Life

  • Safe country (circa zero crime)
  • English widely spoken (ex-British colony)
  • UK based education system
  • Friendly local community
  • On Europe’s door step for a fraction of the price

Limitless Possibilities

  • More than 85.000 students are studying in the internationally accredited and recognized institutions
  • More than 80% of historically significant sites are located in the Northern part of Cyprus
  • Daily flights
  • Low maintenance costs & taxes
  • Up to 11% ROI
  • High liquidity of investment
  • Flexible payment plans


The “plaza” – Shopping, Entertainment And Health Centre

Luxury Residence offers a delightful and relaxing retreat with maximum comfort in mind. The tenants will be able to benefit from the Wellness & SPA, Fitness & Gym, Yoga Centres, vitamin bar, heated indoor swimming pool, sauna and many more featured treatments.

  • Wellness & SPA Centre, Fitness & Yoga Centre, Sauna
  • Indoor swimming pool
  • Grocery store
  • Arcade and games centre
  • Playground
  • Open air cinema
  • Restaurant & Bar
  • Exchange office & ATM
  • First Aid
  • Laundry
  • Rent-a-Car office

Services To The Owners

  • Maintenance and Management offices
  • 24/7 Concierge Services
  • Fun train to the beach
  • Secured entrance

Scope Of The Residence

  • Overall land – 123.412 sqm
  • First construction phase – 33.680 sqm

First Construction Phase

  • Blocks “A” and “E” – 8 storey each
  • Blocks “B” and “D” – 10 storey each
  • Block C – 12 storey
  • 5 Residential blocks, 274 units
  • Plaza Centre
  • Pool complex and Gardens


Recreational Area And Landscape

  • Four outdoor swimming pools
  • Aqua slides and kids pool
  • Kids play area
  • Mediterranean Gardens
  • Lounges & cabanas
  • Parking spots for 352 vehicles

Infrastructures

The Holiday residence uses the latest construction technologies and highest quality materials to support health, safety and comfort.

  •  Double hydro insulation
  •  Air ventilation and circulation systems
  •  Improved heat and sound insulation
  •  EcoTherm brick
  •  Latest materials and construction technology
  •  Foundations – all load tested
  •  32 meter foundation piles used in the complex foundations
  •  Higher than standard required, thick masonry walls
  •  Further construction due for up to 35-storey residential highrise

This is not only a luxurious residential complex, but has much more to offer. The perfectly planned infrastructure for recreation and entertainment will help you to get away from the everyday hustle and bustle and enjoy the atmosphere that we have created for you.

  • Wellness & SPA Centre
  • Fitness & Gym Centre
  • Restaurant & Bar
  • Entertainment for the kids
  • Personal assistance
  • Shops
  • Rental & Maintenance office

Penthouse

You can enjoy the exclusivity and comfort of your own penthouse with outstanding views.

Ground floor Apartments

These type of apartments are especially very popular among future tenants that provide an access to the pools of the Residence as well as the garden.

Studios

Design studio will help you organize your individual space and realize your dreams, including the furnishing of the apartments, individual design and innovative solution for bespoke interiors.

Shops

Fresh daily products, organic fruits and vegetables, beach accessories, households appliances, items for decoration and interior design, all of these will be provided within the shops of the complex.

24/7 Concierge Services

  • Clean your apartment
  • Order food or book flight tickets
  • Babysit your child
  • Repair your sink

Your every need will be fulfilled immediately by the special 24/7 concierge services.

  • First Aid
  • Exchange & Laundry Services.

Residents of the complex will be able to take the advantage of these essential services without leaving the complex. Everything is there to make life easier.

WI-FIStay connected while resting, follow the news on the internet, watch the latest football game; nowadays, this is not a luxury but a necessity. Wi-Fi connection is available for everyone and everywhere. Owners of the apartments will be able to benefit from the rental packages and rent their apartments while away from the island. Your apartments will be taken care of and making you money while you are away. Our holiday residence — artfully brings to life the exterior of the palace streets, artistic design of which creates a cosy atmosphere of splendour all year round.

 

The Renaissance Residence is a City within a City, where every meter is carefully planned and tends to provide everything for you to enjoy your life without a need to go elsewhere. A unique concept of the facilities and activities to support both couples and families. Everything from the shopping to entertainment is especially for you. The Residence offers unique floor plan solutions to suit any buyers. These are not standard plans for each type of an apartment, but 66 different types that would ensure that everyone finds something they like. The combination of the panoramic windows, large terraces and latest interior finishing trends provides options and selection for different tastes.



Smart Investment

  • Up to 11% annual return on your investment from the rental program
  • Save up to 40% when buying off plan
  • 0% interest developer mortgage available to suite each buyer or investor alike

Installment Payment – Legal Support of Transaction:

Payment Method 1:

  • GBP 3,000 – 3 weeks non-refundable reservation deposit
  • 30% minus deposit – upon signing the contract
  • 70% – in equal installments within two years after signing the contract (interest-free installments)

Payment Method 2:

  • GBP 3,000 – 3 weeks non-refundable reservation deposit
  • 30% minus deposit – upon signing the contract
  • 70% – a loan for 5 years at 7% per annum (issued to all comers, without certificates and guarantors)
If You Have Any Query Regarding Investment Opportunities Or Inquiring To Find Affordable Properties / Estate: Villas, Land, Apartments For Sale Or To Rent In Turkish Republic Of Northern Cyprus, Please Feel Free To Get In Touch With Us Today On +90 542 858 51 23 Or WhatsApps.

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Off-Plan Properties – Benefits.

October 7, 2019

What is an Off-plan property ? Is a property purchased before a structure has been constructed upon it. Pre-constructions are usually marketed to real estate developers and resalers. The purchaser can secure more favorable finance terms from their lenders.

When buying property as an investment, it’s important to look for two key attributes – high returns and capital growth; something which can easily be achieved when purchasing off-plan. Off-plan developments are currently experiencing some of their highest sales levels and its popularity is heightened by the ability to negotiate excellent discounts either before the property is built or whilst it’s under construction. Buying off-plan has a slightly different purchase process when compared to pre-built buy to let property however, once familiarised with the general process and the additional advantages, investors often find off-plan property to be an incredibly viable investment option. Purchasing off-plan has many benefits – here we’ll look at some advantages:

  • 1. Purchase prices are significantly lower than average

One main advantage of buying property off-plan is the ability to secure the purchase at below market value. Quite often, this is due to developers wanting to demonstrate a certain level of sales prior to marketing the development or to sell as many units as possible before completion. Some developers also offer additional discounts for investors purchasing multiple properties at any one time as an added incentive. At Boltas commecial we negotiate directly with developers to obtain the best discounts for their clients on off plan property due to our ability to sell large numbers of properties quickly and efficiently.

  • 2. Strong capital growth can be attained

Those who purchase property off-plan benefit mostly from house price growth. If a property is purchased in 2015, but isn’t due for completion until 2017, when the property has finally been built, they will have seen their property grow in value each year. This can add tremendous value to a property, especially if it has already been purchased at a discounted price from the outset.

  • 3. Ability to re-sell at a profit before completion

As it’s more than likely that your property will go up in value before completion, investors can choose to put their property up for sale and sell at a higher market value. Although this can be a good strategy for investors looking to make a profit quickly, you would see much more of a capital growth benefit by tenanting the property and also gaining the benefit of a regular rental income, in addition to capital growth.

  • 4. Small deposits and staged payments

Dependent on the developer and the property, some off-plan deals have the added benefit of staged payments. These payments can help spread the cost of the purchase and enables investors to purchase property without a significantly large deposit. For more information about investing in off-plan property or to request a copy of our ‘Guide to Investing in Off-Plan Property’, call us today. We maintain strong relationships with developers, banks and receivers which allows us to source the best deals on discounted properties across the UK. Sequre have a number of off-plan developments available in fantastic locations, which can see instant equity from day one.

Are you looking for Off-plan properties in Northern Cyprus? Then here you came at the right place at a right time. Please forward your requirement to our Email address: info@milanohomescyprus.com or directly call +90 542 858 51 23 to assist you in this regard.

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Investment’s Factors.

September 12, 2019

Six Important Factors To Consider: When you purchase a residential or commercial property, tapping into its potential, such as renovating and then renting out a space, can help you generate passive income and even turn a nice profit when you eventually sell.

The experts in the industry who have plenty of experience dealing with investment property purchases, and they’ve come to understand common pitfalls and yields that the new investors tend to make. Before you take the plunge on something that could be a great opportunity, here are six important factors they recommend you.

1. Your Overall Goals

The most important thing is to keep in mind why you’re investing in the first place. Are you investing to have more passive income that will allow you to spend time with loved ones? Or do you want to build a huge real estate empire to give millions of dollars to great causes? There is no wrong answer. But what and how you invest should clearly pave a path to accomplish your goal. And remember don’t get caught chasing shiny objects that have no relation to your real goal or won’t get you anywhere close to the target

2. Economic Trends And Drivers

Within the framework of looking at an economy (of any given scale, micro or macro) as a living and breathing organism, it’s often best to think of growth engines, disruption engines and sustainability engines. Understand what market the asset will be serving and how those three engines tie into it. From there you can start to build an effective analysis of the key factors of price per square foot or square meter, the in-place rent versus expenses on that same basis to distill a margin and, lastly, how that margin effectively ties into your target yield and over what time frame.

3. Your Personal Financial Situation

Ask would owning this investment property help me achieve my goals? Each person has a different financial situation, aim and method of acquiring properties that will generate unique financial outcomes. Some might require smaller investments and incur fewer costs along the way, but produce little to no ongoing revenue for awhile. Others will require larger upfront and ongoing investments, but will generate greater cash flow right away. And, there are variations all across the spectrum of inventory. Know your own financial situation first, including your ability to cover unexpected costs along the way, before you make your choice. But, most of all, think about why you’re considering an investment property in the first place to be sure you select one that actually has the potential to produce your desired outcome. 

4. Community Considerations And Opportunity Zones

While return on investment is the most important factor for most property investors and developers, my principal interest involves hospitality, especially in opportunity zones. Investors and developers must be prepared to answer important questions that stretch beyond their own monetary returns. Developers who fail to do so may well find themselves taken to task by attentive local and state leaders. While community considerations might be ancillary to conventional developments, they are vitally important in opportunity zone projects, especially now. Fund managers must be prepared to address them if they hope to preserve their tax benefits and eventually profit from their acquisitions. They can still enjoy rich returns, but only if they genuinely commit to community revival.

5. Plan Ahead For Re-positioning And Downturns

When considering an investment property, while it is important to confirm the property whether it meets your cash flow and investment criteria, as an investor the best thing to keep in mind is how you can strategically re-position the asset to increase your returns and make a preparation during downturns in the market. Real estate is a fabulous tool to build wealth as long as leverage is used appropriately and you are in control of the timing when it comes to the sale of the asset.

6. Your Expected End Result For The Property

Know what you want your end result to be. Are you looking to buy and move-in? Buy and lease? Buy and sell long-term? Your role in the transaction varies depending on your end result. If you’re looking to buy and lease, expect landlord duties. Whatever your decision and desired outcome is, be sure to evaluate all options to see which suits your current lifestyle.

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