Latest News
21-August-2008
Award-winning Property Investment Ticks All the Boxes
Overseas property investment specialist, Obelisk, has a passion for excellence and the company’s determination to offer superior standards and high professionalism at all stages of property investment has reaped its rewards.
Interview with James Gonzalez
The Colony: Property Investment Potential
Tourism has been racing upwards since the year 2000, and Northern Cyprus is the 'visit and shop' destination for Turkish tourists as well as attracting huge numbers from the EU and further abroad. There has been an average annual increase of 6.2 % in tourist numbers over the period 2002-2006.
Between January and July 2006 alone, 35,966 individuals visited Northern Cyprus from the UK. Tourism now employs about 11.4% of the workforce in this relatively small country. This underscores the government of Northern Cyprus commitment to tourism infrastructure.
This rapid increase in tourism, coupled with the rise in property prices across Northern Cyprus, indicates demand for second homes and holiday rentals is set to grow at a rapid rate over the next few years, particularly now that the Northern Cyprus government is implementing the Medium-term Development Strategies as proposed in 2006.
The New Incentive Law, which liberalises property transfer procedures, has provided the impetus for an unprecedented property boom in recent years. Applications by foreign nationals for the purchase of property in Northern Cyprus corresponded to a total of 2.1 million in 2004, compared with just 309,000 in 2001 - representing an increase of 580%. The value of property sales in 2004 reached a staggering £983 million ($2 billion).
For a 3 bedroom villa, with an estimate resale price of £125,815, presents an initial profit of £35,820 and an expected return on investment of 40%.
Click here to see the Resale Price, Profit, Return On Investment and Rental Yields tables.
){kind=link}
Upon full completion in 2010, a profit of £127,413 is expected for a 3 bedroom villa, based upon our projected annual compound growth rate of 20%, earning a return on investment of 142%.
If we consider the 4 year rental income potential once the construction of the development has been completed in 2010, and add the total indicative income to the profit from a sale in 2013, the total profit from this investment rises to £439,505 deriving a return on investment of 488%, or 81% per annum.
Complimentary Property Investment Report
Obelisk TV Series
'The Next Big Thing'
Next Big Thing Turkey
Next Big Thing Bulgaria
Next Big Thing Dubai
See more...