Building Property Costs in North Cyprus.

Build you own home or buy new?

How much does it cost to build a house in North Cyprus. Why build your own home when there are plenty of ready made abodes without your added involvement with architects and constructors and land registry establishing boundary lines? Then there are surveyors and environment consultants…etc.

Buying a new build home in North Cyprus.

There are quite clearly more hoops to jump through if you’re starting the project from scratch. With a completed new build or lived in home many of the teething problems with its pre construction and post construction have been ironed out which makes buying a new home a great choice. Moving into an existing new home is easier because the amenities have already been connected to that property in comparison to building a one of property in a remote area where you have to bring those amenities to it.

You’ll still have a healthy long construction guarantee 5-10 years or more. Choosing a good estate agent to help you navigate all the pros and cons is essential when it comes to the facts about home energy ratings, exploring the possibility of extending the home and knowledge of local departments such as land registry and the environmental department. That said, buying a newly build home still offers limited flexibility in the design and functionality of the finish article will be. For example, when construction companies build a new estate they generally have 2-3 different variations of design for the same house, its garden and its aspect in relation to its surroundings.

How much does it cost to build a house in North Cyprus

Building your own home can be very gratifying. You buy the plot of land through a reputable estate agent who can check with local authorities what the permissions are likely to be. Through networking Select Estates International have professional teams in Land surveyors and geologists, expert craftsmen and architects, legal teams and land registry, electricity company and buildings inspectors. Select Estates international have been in the property business for over 17 years and have acquired extensive knowledge and skill in this sector. You can rest assured that they will take the load off your back leaving you to consider the fun stuff. You will consult with architects you will design a property just the way you like it. Together working with teams to ensure you get the most for your money and from the land you build on. Building your own home to your specification and design is very gratifying.

Constructors

There are many construction companies in Northern Cyprus as you’d expect from a thriving and growing nation. However not many land to choose in Northern Cyprus. Some of the contraction companies are charging higer than what standart prices are. Houses build mostly steel reinforced concrete with block infill. Flat or pitched roof. Deep foundations because we do get earthquakes here in North Cyprus. It’s not unusual for buildings to show minor cracks after a couple of years because of this. Building construction is good and solid made even better by newer building regulations and technology. Newer homes have better damp proofing and insulation. It gets quite hot in Cyprus in the summer and heavy rains in the winter. Because its an island we also tend to get salty and moist sea breezes along coastal parts especially. There is a lot of sandstone and hard rock in some parts so getting a good survey before you buy to build is a wise idea. Construction methods are a bit more basic in Northern Cyprus because unlike UK for example there isn’t much need for wall cavity insulation or roof insulation here. Another good tip is check the credentials of the constructors, Select Estates International can help. There are lots of good trades men and companies who’s can help advise and install solar panels, central heating, sauna and steam rooms, bespoke swimming pools etc.

Are there any limitations to building your own home?

This depends on what your expectations are? Are you building a modest home with classic lines or will it be modern with high tech capability? Perhaps you want to go for lavish and grand? First set yourself a realistic budget let say £300,000 for a fabulous modern design home in a good location. That brings us to the second point. Location is everything. Not only is it important to consider now but it will be important in the future also. The reason is location is what affect values. A beach front property can be expensive as it is exciting to live in.

Building Property Costs in North Cyprus.

How much does it cost to build a house in North Cyprus

Lets consider for a moment budget based on averages. At todays values of construction it costs around £650/m2 to build a house. Let’s assume you have bought a plot in an excellent location for £100,00 and the construction are is 223m2 within an overall land area of 900m2. That’s incredibly cheap in North Cyprus.

The constructions costs would average:-

£650/m2 X 223m2 totalling £144,950.

Land purchase £100,000

Balance from £300,000 budget £ 55,050 This remaining capital is sufficient to pay the surveyors, architects, lawyers, and taxes.

The truly great news is once finished the property will probably realise an instant investment value increase by 40%. This is truly exceptional value. Select Estates International can offer help and advice through. Speak to the professionals, Select Estates are the leading real estate agents in North Cyprus specialising in Luxury properties and Penthouses. Such a property in the UK, Europe including South Cyprus would most probably cost 3 times more to build. For this reason property investment is growing very fast in the Turkish Republic of Northern Cyprus and with free land to purchase in abundance you can soon find the ideal plot with Select Estates to build your new home. £300,000 barely buys a flat in London these days but in North Cyprus you can live like royalty in the palace of your dreams.