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Cyprus - The Pearl Of Mediterranean Property Market In Cyprus
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Cyprus  -  the Pearl Of Mediterranean Property Market In Cyprus

Cyprus is without any doubts one of the most beautiful Mediterranean countries. Blue and green shutters on white buildings with bougainvillea weaving outside, small fishermen’s bays where day’s catch is served in restaurant the very same evening, wild donkeys wondering in Karpaz peninsula. Besides these cliche images Cyprus has a lot more to offer – absence of plants and industrial emissions, low crime rates, fresh air, mountains, sea, Mediterranean diet. Cyprus has become a favorite holiday place for citizens of many Western and Eastern European countries.

And justifiably, because for thousands of years for possession of the island fought almost all the superior civilizations of the time - Egyptians, Greeks, Roman Empire, French Dynasty, Great Britain, Ottoman Empire. And, as if being faithful to its traditions, the island's political status remains a question mark, at least until June 2012, a period that was specified as a long-awaited end to the UN talks between North and South side. But despite the political problems, North Cyprus will not leave anyone who been here indifferent, the island will conquer the heart of every visitor to its emerald waters of the Mediterranean sea, cliffs hanging over them, green mountains and, of course, architectural monuments: churches and monasteries, castles, which were left behind by Crusaders, Greeks and the Ottoman Empire, the Byzantines and many more.

There is something to do for everyone - people in search of adrenalin, can take up parachute jumping, paragliding /sailing, off road jeep driving, horseback riding, people with "chronic exhaustion" of big cities will discover secluded beaches, services all inclusive, mountain walks; animal lovers will be able to see the touching spectacle of digging small turtles, seasonal migrations flocks of birds from Europe to Africa; and fans of noise and loud discos find in Northern Cyprus nightlife for all tastes, open air clubs that are open till the dawn, plenty of bars and restaurants.

North Cyprus has always been a favorite place for tourists, but during the year of 2011, the rate of tourism increased by as much as 35%, and the geography of the people visiting the country this year has significantly expanded. Northern Cyprus "discovered" residents of the Spain, Denmark, Italy, Germany, Holland, Iran, Poland, Slovenia and even France. But statistics increased not only in tourist area but also in property purchases by the foreigners. So why exactly did North Cyprus become a new popular hot spot for real estate market?

First, it is the Mediterranean climate, sun, swimming season from April to November. No snow or frost in the winter. Well a favourable climate can be found in many countries such as Spain, France, and the like. That question leads to the second point. And that is the price: seafront apartment in North Cyprus can be purchased for 35,000 British pounds (the price of property in North Cyprus is usually exhibited in sterling). And a studio apartment can be purchased for 27,240 Euros, which amounts to 24,000 pounds sterling. Anyone would agree this is a low price to pay for leaving on the seafront of the Mediterranean. Moreover, these apartments are available in the complexes with communal swimming pools, playgrounds, gyms, shops and even restaurants.

Another big advantage of buying property in North Cyprus is payment and credit plans. Purchaser can get a credit plan straight from the construction company, rather than a bank in home country. If you buy a property off plan (prior to construction) then you can pay in installments until construction is complete, as well as credit for several years, which makes the idea of ‹acquiring property North Cyprus even more enticing.

If you want to buy a house already built and ready for occupancy, your choice extends to a resale property, where in most cases it requires 100 percent payment. For decades, Europeans, and most of them British, bought property in North Cyprus for obvious reasons - the climate, the Mediterranean island of "paradise", the former British colony, where many laws and rules are the same as in England, and prices are so low that for the cost of a one bedroom apartment in London, you can buy a villa with private pool and central heating in a prestigious area in North Cyprus. For example, a villa in the popular region of Alsancak, a 10-minute drive from the center of Kyrenia, with private pool, central heating, furniture, appliances, 3 bedrooms, 3 bathrooms is worth 125,000 pounds sterling. And these offers are not limited.

Perhaps the popularity of property in Northern Cyprus has grown due to the fact that the inhabitants of Europe, and Eastern Europe in particular, have been "burned" by investing their capital into banks. Also it is pointless and dangerous to keep the money as "dead weight". Clearly, more profitable and safer to invest in real estate abroad, which will not only generate an annual income of a minimum rate of 7% per annul (if the property to be rented), but also grow in value every year. As the saying “money make money”. Therefore, investments in real estate abroad are very popular: and joy brings, and income.

Between the two countries of the "green line" of UN-led peace talks are intensive. There are only two outcomes for North Cyprus - or the country will become a full EU member, or the country will sooner or later be independent and free from all the embargos imposed on it currently. Whatever the final decision might be it will attract a lot of impact – the country will have full power, it will be recognized by the whole world, embargoes will lifted, international investments will be made. All of these factors will entail increase in prices, including the prices for real estate.


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