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North Cyprus Villas...But To Let Investments

Apr 30, 2008
If you are not accustomed to property market terms then allow me to explain what "Buy to Let" actually means. Well it's quite straight forward really as it's just a question of buying and completing on a property followed by letting it out to as many people as possible. The only important factor to consider is that your rental income covers your mortgage payments.

If you are considering this type of property investment then you need to study the total month times for the Low and High seasons. Let's take Northern Cyprus as an example which has about a seven month high season and the rest is low and let's add to that over 300 days of clear blue skies. You can see why so many people want do get away from dull days and get straight over to sunny Northern Cyprus.

There's nothing better than having real figures to work from so let's go over a property deal including a sea view totalling 250.000 Euro. First you will have to make an initial down payment of 3000 Euro to hold the property. That is followed by paying a 30% total deposit which would come to 75.000 Euro, including the 3000 Euro down payment.

So your remaining amount for your mortgage is Euro 175,000. Now you can get a wide range of mortgages so it's best to shop around, I have seen them as low as 4.25%, so I'm going to base mine on this. Your monthly mortgage repayments will be around Euro 800. You must remember and this is very important make sure you only get an interest only mortgage. So if you do the sums over a 12 month period you'll be paying out around Euro 9600.00.

The average rental over a 12 month period for a Northern Cyprus property is around 10 months plus. Now on a property valued at this much you can ask for the following rental prices; High Season Euro 2600 Per Month - Low Season Euro 1500 per Month.

So let's say you rent your property out for 6 months in the high season and 4 months in the low season... your total rent for the year would be Euro 21600. Now you're telling me that there's no money in renting. There are other charges to pay which include rental management, community fees and the cost of these will range depending on which rental management you take your property out with. But the cost is way less than Euro 1000.

The important thing for you to know now is that if you believe this to be an opportunity that you don't want to let slip, then check out the Cyprusinformer.com/blog which holds all the answers to your Northern Cyprus property investment dreams.
About the Author
check out this Cyprus Holiday Rent to Buy property investment blog written by the renowned Tim Martins and check out The Cyprus Property Investment Secrets
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