Luxury New Development

This breathtaking unique new luxury project is located in one of the most sought-after areas of Esentepe, surrounded by numerous amenities, this concept of design was inspired by the famous Cavo Tagoo Hotel in Greece. This incredible piece of architecture is comprised of 8 blocks of twostory apartments, which include 1 bedroom, 2 bedroom and 3-bedroom luxury apartments and penthouses, moreover there are 8 gorgeous villas located on the front line. The project located nearby our sister resort Maldives homes which includes different indoor facilities such as GYM, restaurant, mini-market, sauna, Turkish bath, massage, beauty centre, indoor swimming pool and outdoor facilities: beach, beach bar, cinema, GYM, tennis court, basketball court, mini-golf, children playground and watersports.

WHY ESENTEPE?

Located only a 20-minute drive from Kyrenia. If you ask any visitor to North Cyprus where they are planning to visit, 9 times out of 10 the answer will be “Kyrenia”. There is a unique charm in Kyrenia which, once experienced, is hard to forget. Kyrenia Property is a great way into North Cyprus Property investment. Known as Kerýneia in Greek and Girne in Turkish, the quaint Kyrenia harbour with its ancient harbour, 1400-year-old castle, glistening harbour lights, charming, traditional cobbled streets, craft shops and lovely converted stone-built carob store restaurants, is undoubtedly the tourist capital of North Cyprus and has been dubbed the “Jewel of the Mediterranean”.

5 mins to Esentepe Village
5 mins to Pharmacy
8 mins to Korineum Golf club
15 mins to Kyrenia City center
40 mins to Famagusta City center
50 mins to Nicosia City center
35 mins to Ercan Airport
70 mins to Larnaca Airport

WHY INVEST IN NORTH CYPRUS?

With tourism on the rise year on year, you can be assured that you will receive a faster return on investment. North Cyprus uses the Turkish Lira currency instead of the Euro, because of this reason the cost of living and the cost of property is extremely cheap, in fact 30 to 40% cheaper than most of Europe, you can pick up a lovely apartment for as little as 50,000 GBP right on the beach, the same location in Europe will set you back at least 150,000 Euros. Another reason for the prices being so attractive are; until recent years mortgages have been scarce here, now developers are offering interest free loans of up to 7 years. For this reason, we have seen an influx of International Investors taking full advantage of the prices, this also means that developments are going up everywhere to keep up with demand, which leads to the prices rising year on year by at least 10%.

PAYMENTS

1st payment: 2,000 GBP reservation fee + Legal fees (1,400 GBP)
2nd payment: 35% + 0.5% Stamp Duty on signing contract
3rd payment: 60% as per construction stages until handover
Handover: 5% VAT + Water & Electric infrastructure (1,500 GBP) + Maintenance fees
4th payment: 5% due on key handover
Transfer of title deeds: 3% of property price
Additional costs: Legal fees, Stamp Duty 0.5%, Electric meter registration, Furniture

RENTAL YIELDS

RENTAL YIELDS FOR A 1 BED APARTMENT

High season: 850 GBP per week (May – October)
Low season: 500 GBP per week
ROI—8 Years
25% capital appreciation

OTHER OPTIONS
1 bed penthouse apartments: 169,990 GBP
3 bed apartments: 184,990 GBP