Northern Cyprus Properties - one to Watch Out For

by : Yoav Lavie



Britons are beginning to look at Northern Cyprus Properties rather than the more traditional investment destination of the south for buying property, it has been claimed.

Many U.K based overseas property agents now report selling more properties in the north as people looked for a more "calm and tranquil" alternative to the south of the country.
The south has been commercialized by tourists while the north has remained untouched.
Property prices in south Cyprus had been pushed up by over-saturation while prices in the north are cheaper, with a one-bedroom apartment costing around ?35,000 fully furnished, they claim.
One of the leading developments in the Northern Cyprus Properties market at the moment is definitely Sweetwater Bay, located right on the beach in the blooming area of Tatlisu. It is considered one of the best sites under development with its fantastic location, ample communal facilities and variety of units, ranging from one bedroom apartments to luxurious 3 bedroom villas.
New infrastructure works needed to support all the new Northern Cyprus properties are heavily under development (financed by the government). New roads, electricity and water purification plants as well as numerous public and commercial businesses, are opening at an increasing rate.

A senior investment firm executive commented on the booming Northern Cyprus Properties market: "From an investment perspective you'd always want to get in early, where people haven't got in before. So from that standpoint it's definitely one place to watch out for in the next three to five years."

Cyprus was recently named as a top overseas property summer hotspot for 2007 by Rightmove.