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Long Beach Iskele
Royal sun Residence by Noyanlar
Why North Cyprus face actually the begin of a boom in real estate
LONG BEACH , ISKELE, NORTH CYPRUS, April 17, 2023/EINPresswire.com/ — Northern Cyprus is currently experiencing a development like Mallorca went through at the end of the 80s and Antalya at the end of the 90s: Discovered as a region with an enormous growth potential, the demand for real estate is currently increasing significantly.
Where does the boom come from? Well, answering this question is easy. Real estate is still considered the safest investment, and rightly so. Especially on an island, such an investment is even more promising, since the plots of land for development are limited here anyway. And let’s not fool ourselves: Even in a crisis, beachfront properties are still much better protected against a loss in value than properties somewhere in the interior of a landlocked country.
But there is even more to be said for the incipient boom in Northern Cyprus by an increasing number of European or other international buyers. For Northern Cyprus is also considered a “safe haven” for one’s own assets because of the banking system that prevails there. The protection of information vis-à-vis foreign authorities with regard to account holders or assets in the accounts is also attracting those Europeans who do not expect anything good from the European Union, of which Northern Cyprus is not a member due to its status, in terms of future monetary policy and who want to secure their assets in good time. A real estate boom that is now beginning, which, by the way, the American business magazine FORBES foresaw as early as 2021. Because in this year FORBES chose North Cyprus and especially the region of Iskele on Long Beach as number 1 for worthwhile investments in beachfront real estate. In this ranking, North Cyprus beat even previously popular regions such as Belize, the Seychelles or Portugal.
Northern Cyprus offers various models for investors in the real estate sector: Firstly, as a permanently oriented investment in a holiday property, where one can expect a relatively permanent and stable income and clear double-digit returns on the capital invested due to the increasing demand for overnight stays. Or, this is an increasingly attractive model for many investors, as a way to profit from the appreciation of a property while it is still under construction. Large companies in the sector, such as NOYANLAR, usually launch their new projects three to four years before the planned completion date. This means that sales start at a time when there is seldom more to be seen than the still fallow building land and the work has not yet begun for a long time. This naturally makes it difficult for sellers to convince potential buyers and win their trust. To make this decision easier for the prospective buyer, prices in this phase of the sale are usually discounted to later prices, the so-called “pre-launch” or “launch” prices. Anyone who strikes during this period and pays the deposit becomes the owner of a flat whose construction has not even begun. A few weeks after this start of sales, construction work usually begins and the first price increases can be seen, which, depending on the progress of construction, go even further and are usually at a level significantly above the initial prices shortly before completion. Then, when the customer can already “touch” his future flat, prices are called up that are sometimes more than 50% above the first prices – with an already very limited availability. This is when the clever investors emerge and offer their early-bought flats, for which usually only less than 60% of the original first price has been paid by then, to other interested buyers at the current price and can thus enjoy an almost doubling of the capital invested. Since there are regularly only a few units of some flat types, such as penthouses, in the large projects, they are usually sold out months before completion. Lucky as the buyer who can then acquire exactly one of these sought-after flats from an investor. This is a win-win situation: The developer wins by an early occupancy of his project and the investor wins because he can look forward to a strong return on the capital invested. No matter whether he later goes into holiday rentals, long-term rentals or resale.
This is one of the reasons why the big names in the industry, such as NOYANLAR, are among the top addresses for investors when it comes to not only having security on the capital invested, but also achieving significantly above-average returns with it. NOYANLAR takes special care of its investors. In terms of both far-sighted project planning and service, NOYANLAR is one of the top addresses when it comes to finding the right partner for your investment. Already successful on the market for more than 50 years, NOYANLAR looks back on a history that did not follow a trend, but regularly triggered and shaped a trend that other names in the industry first had to follow.
With its projects, NOYANLAR always proves anew that it has its finger on the pulse of time. It is therefore not surprising that NOYANLAR’s projects are usually sold out months before completion. The group has become a brand on the island that you can’t get past if you’re anything to go by. “I live in a NOYANLAR complex” – A status symbol in North Cyprus that is just as meaningful as hearing in Los Angeles that someone has their residence in Beverly Hills.
With HUB Property and Investment LTD an arm of the company was created as a logical consequence of the strongly increasing demand, which bundles North Cyprus and the developers there locally and jointly markets them worldwide. The island’s regional characteristics alone attract different buyers, who have widely varying personal needs in terms of the location or size of a project.
The director of HUB Property and Investment Ltd, Zarif Noyan, uses her long experience to ensure that investors always find the right property and can rely on the fact that one of the biggest brands in the industry stands behind the company.
Alexander Abraham
NOYANLAR GROUP OF COMPANIES
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