While going through my old notes, I came across a website called "Investopedia" Glenn Curtis first written in 2016, then updated in May 2022, "5 important things a real estate professional should know" I read and recorded it when I started this work in 2017.
These 5 points are briefly as follows; know the prices in the region, have a pre-approved loan, follow the developments that will develop the region, search for low tax and interest advantages, examine the success of the schools, follow the peripheral regions!
As soon as I read these articles, it occurred to me that they would be a great source for a "Why Cyprus?" article.
Kıbrıs, elbette bahsi geçen Kuzey Kıbrıs, adanın tamamına göre çok daha avantajlı fiyatlara sahip. Tarama bölgesini genişlettikçe de, önce Türkiye’ye göre, daha sonra Avrupa’daki benzerlerine göre, ardından yeni gözdelerden Dubai’ye göre, oldukça düşük birim metrekare fiyatlarla mülk edinebileceğiniz bir ülke… En yakın rakip olabilecek ülkemizde, özellikle İstanbul’da birim metrekareleri takip ediyorsanız, siz de bunu zaten farkındasınız… Dünyanın en prestijli ekonomik bilgi kaynaklarından olan Forbes dergisi, hem 2021 hem de 2024 yılları için Kuzey Kıbrıs’ı, özellikle de İskele şehrini “denize kıyısı olan ülkeler arasında yatırım yapmaya en uygun” şehirler arasında birinci, “Amerika yatırımlarına göre %42 daha avantajlı” olarak boşuna sıralamadı. 4 yıldır ülkeye dünyanın dört bir yanından yatırımcılar akıyor. En çok da sırasıyla, İngiltere, Rusya, İran ve Almanya. Diğerlerini bilemem ama ben Alman ve İngiliz yatırımcının boşa kürek çekmediğini bilirim.
I looked at the article "Have a pre-approved loan" first with sadness and then with a little sneer. Although there were very good examples of this in our country in the past, it is not possible to get a pre-approved or post-approved loan at the moment. (Let me note December 2023, so that those who read it years later will not remember it badly) In relatively suitable regions for investment such as Montenegro, Greece and Portugal, there are many obstacles you need to overcome in order to get a loan. It varies according to the country. However, in Cyprus, there are financing models up to 80 - 82 months within the developer company with zero interest in the pound-denominated market. Considering that your monthly payment for 2.000.000 TL, which you cannot use with %3,65 monthly interest, is approximately 75.000 TL, and your total payment at the end of 120 months is 8.900.000 TL, the increase in the pound exchange rate will not upset us too much. Moreover, in properties with high rental income in pounds, while the delivery period is 3 years, when the financing period reaches 7 years, our property pays the remaining 4 years with the rent and does not leave a serious pocket money on top. In this case, the interest-free installment opportunity of up to 82 months provided by the projects more than meets this item.
Although we have seen urban developments on the E-5, Şile and Kurtköy axes when there was nowhere to step in the center of Istanbul, we should have realized much earlier that the closest and biggest competitors of Nicosia and Kyrenia, with their old and relatively bad city plans and dense populations, would be the İskele and Esentepe regions. In the article, dear Glenn says that "new projects and shopping areas will mean that the area will become very lucrative for investment", and in this area, new projects, five and seven star hotels, giant casinos are planned. What more could be needed to make it suitable for investment? In the last 2 years, three of the biggest tourism companies in Cyprus have started operations in Iskele. Search for places to visit in Northern Cyprus on any artificial intelligence search engine and you will be surprised at the potential of tourism. An island country has historical, natural and cultural ruins that many other countries do not have.
Düşük vergi avantajlarını araştırmama gerek yok, sevgili devletimiz KKTC ile “çifte vergilendirme anlaşması” yapmış bile. Kısaca KKTC gelirlerinizi %13 ile vergilendirdiğinizde, TC içerisinde ikinci defa aynı gelir için vergi ödemiyorsunuz. Kaçırmıyorsunuz, kaçınmıyorsunuz, verginizi tam ödüyorsunuz, ama az ödüyorsunuz!
Look at the success of the schools because good schools and successful students attract both jobs and families to the region. There are 27 international universities and there are plans for 35 in total. I haven't followed their success very closely, but I am sure they attract a lot of traffic. With some internationally recognized departments, the country has an education system that opens the doors of the world to many students from our country...
He said to follow the peripheral regions, that is, the regions that are open from the center, because when the center becomes denser, these regions start to fill up. Just above, we have exemplified the developments that will develop the region. I will say that there is a road to Dip Karpaz, we built that road and gave it as a gift to our baby homeland... We will take care of it, God willing!
What more can I say?
Ender Firatoglu
