Wondering where to buy property in 2020? The truth is, the best overseas property market for you may not be the best for your neighbor or your colleague. Choose profitable housing for yourself - after all, your personal investment goal will largely depend on where you ultimately invest.
For example, the best places to buy overseas property for rent to increase cash flow and capital growth have three things in common: job growth, population growth, and affordability. When you find a market that has all three of these factors, you can probably find good investment opportunities. Investing in the buy-to-change sector is one of the most profitable ways to make money.
When thinking about which countries to invest in real estate, there are many factors to consider, such as where you intend to invest, country accessibility and visa requirements, the cost, what type of property you want to purchase, or what the tax implications of your investment are.
The North Cyprus property specialists at Alliance-Estate have compiled the following basic tips for aspiring investors. We are happy to share our experience! North Cyprus real estate has enjoyed great popularity over the past 10 years with both tourists and investors. We will name only a few reasons - the annual growth in real estate prices, popular rental housing for both short and long term, a growing number of international universities, ongoing negotiations on the country's accession to the EU.
When considering long term profit growth.
If you are investing in the long term to capitalize on the development of the market, make sure you know the reasons for short or long term leases in the area. If we talk about apartments for short-term rent, then according to the short-term rental manager of Alliance-Estate, the best regions are Iskele or Bafra. More expensive villas are more in demand among Europeans and on the local market in the Kyrenia region.
Knowing market trends is important and it is not only about the previous market growth in North Cyprus, but also about the present - what is happening, what can affect future growth? Consider any global investment projects taking place in Northern Cyprus that can affect the development of the market as a whole. For example, the developing branches of education, both secondary and higher, will undoubtedly bring in many new young people from abroad and, accordingly, will require many rental places. Another of the most promising industries is the opening of new casinos at five-star hotels. The casino employees and staff have always been welcome tenants due to their stable and high salaries.
Know Your Audience: Who Are You Renting Out To? If you are buying near a school or international universities, your audience is likely to be young families, so buying a one or two bedroom apartment often matches the demand of the average family. However, buying such an apartment, you will be renting it for a long time. The point is that before you buy an apartment in a specific location, you need to understand who your potential tenant will be, what their needs are, and make sure your investment matches demand. The best advice would be the answer from professionals who have been dealing with rental housing in North Cyprus for many years.
Get a mortgage: viewing finished real estate and the possibility of mortgage on some housing options, in principle, will put many objects in front of you, since you can already move as soon as you find a suitable investment and pay the down payment in accordance with the terms of the contract.
Make sure you know the local “sales rate”: knowing how quickly the market is a good indicator of demand. This will not only highlight how fast you will need to move to secure your investment, but it will also give you knowledge of how this market works. You can always use the VIEWING TOUR in order to see all the housing objects within your budget for free.