AN ICONIC NORTH CYPRUS PROPERTY INVESTMENT Famagusta, Northern Cyprus 3 Bed Flat £102,900 | €117,014 | $131,758 Request a Currency Exchange Quote Here

• Fabulous Location CENTRAL FAMAGUSTA • Payment Terms • Studio 1,2,3,bedroom apartments • 25% now, nothing until completion • Up to 10 year mortgage plans • Handover June 2021

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Property Description ID:35144291

EARLY INVESTORS CAN SAVE UP TO 40% WITH A WIDE CHOICE OF APARTMENTS

The proof that off plan works for you.

The last large scale apartment project undertaken by this developer is now close to completion and early off plan investors have seen the value of their investments increase by up to around 40% as per the marketing plan. You can achieve similar savings by getting in on the ground floor with this fabulous new project. Please do not delay. Options are being taken up very quickly now that the project has been launched to the market. Contact us quoting HP1981-3 in order to register your interest without obligation.

Many cities and countries have buildings or features that are so instantly recognized that they become forever associated with that city or country.  Take Tower Bridge in London, or the Opera House that screams out Sydney Australia for example. A similarly memorable building is coming to North Cyprus and you can own part of it. An original and stunning design for a new five star standard apartment development in the Famagusta area of North Cyprus that is so outstanding that we believe it will become an instantly recognizable symbol of success and recognition for this beautiful region and the country as a whole. 

Located within easy reach of the thriving and vibrant City of Famagusta with its charming mix of ancient and modern culture plus the beautiful beaches of Famagusta Bay, this really is the place in which to invest.

This most exciting investment opportunity comes courtesy of one of the largest and longest established commercial organizations in North Cyprus who have a solid reputation for both quality and reliability of project planning and delivery.                                         

Buy to let investors will be excited by the close proximity to Famagusta with its thriving business community and the thousands of students, lecturers and others linked to the Eastern Mediterranean University. Private buyers may well be attracted as holiday home or residential owners with easy access to beaches, shops, medical, and many other facilities.

All can benefit massively by investing early.

Key Features

  • Price saving cost advantages of 40% plus for early investors.
  • 10 year mortgages available on approval from the Construction Companies bank
  • 10 year builders’ loan GUARANTEED from the construction company if mortgage application is rejected.
  • Only 25% down payment. (No stage payments before completion.)
  • Quality furniture packages available.
  • Choice of apartment types. *
  • Choice of apartment locations.*

 All new properties are subject to 5% vat and 3% transfer at the end of the payment programme.

Solicitor’s fees are £1,400

Stamp Duty is 0.5%

Electric and water connection £2,000 per apartment.

Mortgage arrangement fee of 2% of the property price

Mortgages can be applied for in June 2021 for maximum 10 years.

Should the customer be turned down for the mortgage, a GUARANTEED 10 year builders’ loan will be offered from the construction company.

Maintenance £20 per month.

For all apartments 25% is paid now, along with 0.5% stamp duty and £1,400 solicitors fees.

£2,000 of this amount is paid as reservation and contracts are drawn up and completion takes place on the 25% minus the £2,000 reservation fee within 4 weeks.

YOU THEN PAY NOTHING UNTIL DECEMBER 2019 AT COMPLETION.

In June 2021 you have options for the balance:-

You can apply to the Developers own bank for a mortgage over 10 years or pay cash.

If tunred down  you will automatically get the 10 year loan from the construction Company no matter what your age or circumstance.

The developers own  bank the following is required: (@7%)

?         %25 down payment will be met by the buyer

?         Bank loan will be upto 75% of the sales price of the property

?         Security: 1st Legal charge over purchaed property

?         min 1 Personal guarantor for overseas borrowers (can be a foreigner)

?         Overseas Borrowers to produce documents evidencing permanent overseas adresses. (i.e Bank Statement, electricity / gas bills etc)

?         Currecy GBP

?         Interest rate : 7%

?         Loan term : 10 Years

?         Arrangement fee : %2 + 0.5% stamp duty

?         In case of english speaking buyers, We prefer, all legal documentations to be signed at buyers solicitors Office after independent legal advice given and witnessed by their solicitors. This will be required at court in case of borrower defaults.

?         House insurance will be done by the Bank

3 bedrooms start at £102,900

£102,900   x 25% down payment (£25,725) = £77.175 on mortgage.

10 year bank mortgage if approved              = £10,752.84  every year (£896.07 per month)

10 year builders loan if not approved           = £13,286.88  every year (£1,107.24 per month)

Projected rental           MINIMUM £800 per week x 25 weeks = £20,000

With the 10 year mortgage you will cover your mortgage and potentially gross £9,247.16

With the 10 year builders loan you will cover your loan and potentially gross £6,713.32

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