Renovated Properties for Sale in North Cyprus

Summary: With the amount of brand new and off plan homes for sale is can seem like there is no market for anything else in TRNC, but if you take the time to look and put a bit of pressure on your estate agent you can usually unearth a few beautifully renovated properties for sale in North Cyprus.

With the amount of brand new and off plan homes for sale is can seem like there is no market for anything else in TRNC, but if you take the time to look and put a bit of pressure on your estate agent you can usually unearth a few beautifully renovated properties for sale in North Cyprus.

There are also a fair number of homes coming up for sale now that are in need of some TLC and that will, with a bit of work, make great investments when fully renovated and returned to their former glory.

One of the most popular locations for renovated properties is Karmi (also known as Karaman) which is located west of Kyrenia high up in the mountains and is home to a mix of European settlers who have turned what were abandoned shells of houses into a beautiful and immaculate traditional Cypriot village.

Visiting the village you will be struck by just how perfect it is!  Every single house is freshly whitewashed, all the houses have burgeoning bougainvillea packed gardens, there is no litter, no peeling paint, no stray dogs and it’s actually very rare for renovated properties to come up for sale in the village simply because the residents are so proud of the community they’ve created that they don’t want to move out.

There are waiting lists at estate agencies for anything that comes up for sale and just this week a perfect example of a Karaman home came onto the market at GBP 130,000.  This price will buy you a two bedroom traditional Cypriot style home in Karmi with pre 1974 title deeds, a small garden and fantastic and unrivalled sea views.  And while the price may sound attractive to anyone living outside North Cyprus, you can actually get a similar property for sale in the TRNC village of Esentepe for just GBP 65,000.  This should give you an idea of how desirable property in Karaman actually is.

In terms of the price of renovated properties for sale in North Cyprus then a lot depends on location.  Karmi, Bellapais and Ozankoy are the most attractive and popular destinations for those seeking renovated homes because the villages are attractive and well kept.  If you move towards Esentepe, Alsancak or Lapta you can expect to pay less for similar properties.

If you want to purchase a property in need of renovation in TRNC get a builder to give you a quotation for all the work that will need doing before you agree a price with the vendor.  Nasty problems with damp, the electrics, the roof, windows, guttering and plumbing should be investigated as well and if any major work needs doing you should have some negotiating power with the vendor.

When buying older properties in North Cyprus it’s essential to have the validity of the title deed checked out and also you should instruct a lawyer to conduct title searches for you at the land registry to ensure the property you wish to purchase is owned outright by the vendor, that they have permission to sell and that you will not be inheriting any mortgages or debts on the home.

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