Back in 2004 there was a hive of building and property investment activity in
North Cyprus following the Turkish Cypriot residents’ acceptance of the terms of
the Annan Plan for the peaceful reunification of Cyprus and the subsequent
general acceptance that the Turkish Republic of Northern Cyprus will be
recognized and officially accepted meaning that the value of land and real
estate on the island will rise to be at least on a par with the prices of land
and real estate in the Republic of (south) Cyprus.
Since 2004 the initial property projects launched have sold extremely well,
profits have been made, incomes derived and now the focus has begun to shift
from selling affordable properties to the development of significant, unique,
interesting and bespoke property in North Cyprus for the ever increasing numbers
of discerning buyers looking for a place to live in, retire to or profit from
substantially.
Bespoke property in North Cyprus has become a far more popular commodity as
those who were initially planning to invest for the short term have decided to
stay living in North Cyprus themselves. Bespoke, architecturally designed
properties can be built by any of the major constructors on the island, but
generally speaking the better known the builder and the more completed projects
he has under his belt the more likely he is to do a good job.
Anyone looking for land on which to build must ensure the land is directly
accessible by a government marked road – if not, planning permission will not be
granted. Furthermore anyone wishing to spare themselves the expense of tens of
thousands of pounds should ensure there is easy access to electric and water
from a given plot.
Different constructors on the island give very different build costs, some go as
low as GBP 100 a square meter but the more realistic advise that prices start
from GBP 200 a square meter – of course this final price will depend on an
individual customer’s choice of finish, whether they want marble throughout,
central heating, solar glass etc. The design of a bespoke property can be
handled by an in-house architect
Plans for the bespoke property in North Cyprus then have to be submitted and
approved and approval will be granted if the land meets the requirements
stipulated above and the property to be constructed meets the standards defined
for the zone in which the parcel of land is located. In some areas it is
possible to build up to 3 floors in height for example, but in the majority of
areas only 2 floors are acceptable. The build density rules are different in
different areas of the island as well and a professional constructor with
extensive experience will be able to handle all of these conditions for a
customer.
Those considering having a house designed and built for them should seriously
think about employing a specialist in custom built homes and using their project
management services as well to ensure they receive a well built house, with
guarantees that exactly match their initial criteria for their dream bespoke
house in Cyprus.