North Cyprus Villas...Buy To Let Investment Opportunities

Most people who are not in the property market don't understand what the term "Buy to Let" means. Well it's simple you buy the property and everything has been completed you rent to it out to anyone who wants to stay in your property. The main thing you have to think about when you're doing this is make sure your rent covers your mortgage payments.

If you decided to buy and then rent out your property you must remember there are two seasons, Low Season and High Season. A high season in Northern Cyprus will be around 7 months of the year, while the low season is the remaining months which are left, but don't worry because Northern Cyprus as over 300 days of the year of clear blue skies and you'll find that families like to get away from the dull winter to a nice sunny place like 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 statistics available on rental income in Northern Cyprus show that properties can be let out for up to 10 months per year. So if we put the property we have just bought into the equation, we can expect an amazing 2600 Euro. in the high season and an awesome 1500 Euro. over the low season.

So if we go into a little fine detail on the property we have just purchased, let's calculate on it being rented out for around 6 months over the high season and about 4 in the low season. This you may be amazed to know works out at 21.600 Euro rental income in your pocket. Well you will have to appoint a property management company to take care of your payments such as community charges, but this won't be more than 1000 Euro a year. Are you beginning to see why property investment in Northern Cyprus sounds interesting?

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.

Article Source: http://www.myaddirectory.com

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