New
Year Promotion
£600 Cash Back, FREE accommodation and pick-ups in North
Cyprus.
See our Promotion
Brochure (915k PDF) or contact us for
further information.
HURRY! Just TWO 2 Bed Bungalows
remaining at ONLY £70,000!
See our Site
Plan or Price List for
further information.
Blue Cove Villas
Blue
Cove is a prestigious development of seven bespoke
villas, situated near the coastal road between Yenierenkoy and
Dipkarpaz. These stunning North
Cyprus villas will sell very quickly so contact
us today or visit our Estate Agents Busy
Bees for further details.
Amnesty on Stamp Duty
The TRNC Government has announced an 'amnesty' for
all purchasers who had not previously paid their Stamp Duty. Under the
amnesty, anyone who pays the Stamp Duty before 31st March 2008 will be entitled
to pay at the 0.5% rate, regardless of when their Contract of Sale
was signed. For all existing customers who have bought at Peninsular
Heights please contact your respective lawyer in TRNC for further details.
Investment Potential
Buying off plan is simple and works both for the buyer and the
developer. The buyer gains the advantage of spreading the payments of
the property purchase over a longer period of time than is normal usually
between 18 and 24 months. The payments from the buyer are made as stage
payments according to the build program as set out in his contract and
the buyer can see the progress of his villa and make changes if he/she
so wishes as the build continues. The buyer also gains from the enhanced
capital value of the property as it is being built. It is also possible
to sell on the villa without ever having completed the sale. The buyer
therefore never pays more than the asset being created.Since Peninsular
Heights is a bespoke development the Developer and Buyer work very closely
together which produces a better client / developer relationship and a
better quality of build in the finished product.
Meet some of our Property
Owners to find out what they have to say about us.
Property Investment Potential:
In
the last three years the villa development at Peninsular Heights has seen
an increase in capital values of the properties under construction by
up to 50% averaging a year on year increase of just under 20% per annum.
In some cases land values have risen by up to 3,000%. As residential property
in south Cyprus is almost double that of the north for the same property
then it is reasonable to assume that given further economic growth in
this vibrant emerging market this trend is unlikely to change. If anything,
once a settlement is reached and the whole of Cyprus is welcomed into
the EU then property and land values in the North may well match those
curently enjoyed in the South.
2
Bedroom, 2 Bathroom Bungalows:
Prices from just £70,000
Plot 5 - Sold
Plot 7 - Sold
Plot 6, 9, 10,
11, & 12 -
Sold
Plot 8, 15, 16, 17, 18 & 22 -
Sold
Plot 19, 20, 21, 26a, 26b & 28 -
Sold
Plot 49a, Plot 49b - Sold
Plot 50a, Plot 50b - Sold
3 Bedroom, 2 Bathroom Villas:
Prices from just £121,500
Plot 27 - Sold
Plot 3, 4, 23,
& 24 -
Sold
Plot1, 33 -
Sold
4/5
Bedroom, 3 Bathroom Villas:
Prices from just £138,500
Plot 25 - Sold
Plot 30, 32 -
Sold
See our Money-back Guarantee.
Download
Our Latest Price List
Contact us TODAY to enquire about property investment in Cyprus
Guaranteed Investment Return - details on request
Belgravia Estates can offer clients who do not wish to take
possession of their completed villas a 'Guaranteed Return' on their investment
for a minimum of 12
months up to a maximum period of 4 years. All guaranteed investment returns
come into effect and become payable after completion of the property but before
handover. During these periods Belgravia Estates will be responsible for the
upkeep and security of the owners villa. This does not affect the purchasers
rights under the terms and conditions of the contract when the villa is handed
over and any snagging items that might arise at that time will be actioned
accordingly.
- Guaranteed Investment Return Year 1
Min. 12 month period payable in advance in two payments at 2% of purchase
price.
- Guaranteed Investment Return Year 2
Min. 12 month period payable in advance in two payments at 3% of purchase
price.
- Guaranteed Investment Return Year 3
Min. 12 month period payable in advance in two payments at 4% of purchase
price.
- Guaranteed Investment Return Year 4
Min. 12 month period payable in advance in two payments at 5% of purchase
price.
This arrangement is for the Peninsular Heights Development in Northern Cyprus
only.
Terms and conditions apply, please contact
us for further information.
Off-Plan Sales
All our properties are sold Off-Plan, i.e. the Buyer enters into a
contract with the Developer to buy a property at an agreed price before the
property
is built. Once he / she has put down a reservation payment of £1,000
the property is taken off the market. In the space of 3 – 4 weeks a draft
contract is agreed between Developer and Buyer. The Buyer can use his / her
own solicitor to vet the contract in the UK. Once agreed the contract is then
sent to the Developers lawyers in TRNC who send out a top copy of the contract
to the buyer for signing and witnessing. There are three copies – one
copy for the Buyer, one copy for the Lawyers and one copy for the Developer.
The villa is then constructed in stages and once photographs of the completed
stage have been sent to the Developers sales agents and forwarded to the buyer
the stage payments are paid by the Buyer.
The advantages to the buyer are :
- A rise in capital value of his / her property whilst under construction
- Stage payments mean that the buyer only pays on what is built and completed and reduces pressure on cashflow.
- The Buyer has the option of selling on the property before completion taking advantage
of the capital gains ( presently running at 20% per annum )
- Buyers can personalise their own villa to suit their individual requirements
The Peninsular Heights development as it is primarily marketed to a UK client
base has the following stage payments
Reservation Fee: £1,000 deposit secured the plot.
- 30% deposit on exchange of contracts
- 30% stage payment on completion of the foundations
- 20% stage payment on the weatherproofing of the envelope
- 15% stage payment on completion of the internal fitting out of the villa
- 5% retention held and paid upon the completion and handover of the completed villa.
The Freehold Title deeds are registered once the whole development has been
completed. The individual plots are surveyed, the ‘as built’ site
layout is submitted to the planning authorities for endorsing and the plots
are registered in the name of the owners.
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Development in Karpaz
The Karpaz Peninsula is currently being developed but unlike
most of the northern part of the Island along the coast around
Girne where development is taking place at breakneck speed the
Karpaz area should be considered as a long term investment and
is likely to provide the greatest returns over the next 5 -
10 years. The reasons for this are two-fold:
Firstly the region is a protected area and as such planning permissions will be restricted to ensure that the coastline and hinterland are maintained to allow for the indigenous wildlife to breed without the interference of man. Just outside Yenierenkoy village a large Marina Development is planned and within a few years will act as a catalyst to draw in more inward investment into the area. A new road running along the north coast will link Karpaz with Girne with travel times much reduced. This will have a significant impact on land and property values.
Secondly, prices in the Karpaz area have as yet not reached their peak and are seeing slower increases than the rest of the north coast.
So for those investors seeking to maximise their returns over a longer
period the Karpaz area will eventually deliver. Even with the limited
amount of development on the peninsular land values have trebled
in the last three
years and is likely to continue. The price you pay for your villa
is still excellent value for money eg a 4 bedroom 3 bathroom villa
with pool on the
north coast say in Esentepe will cost in the region of £175,000 - £200,000,
the same villa with pool on the Karpaz Peninsula will cost £30,000 less and
you are likely to get more land with it.
>> click here to view the site plan
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