Hi I am interested in this development. Its in Northern Cyprus and i know that in itself is Controversial but was wondering if anyone has any opinion about the development and local area itself. Savilles are promoting and the price is at a premium but i am looking at a 3 bed ground floor apartment with 42m2 private pool for 89k sterling.
Hi Scott I have reserved an apartment on this project. I notice you have bought one and were over there recently. Do you think it is going to be a good investment ? Any information about it would be most welcome. Many thanks
Yes i think it could be a good investment. Not sure on the rental side but the fact my apartment wont be finished until sep 2010 alot could happen in that time. For the money - i paid just under 100k where else could you buy a property on a beach front resort with 3 beds and a private swimming pool. North cyprus is a beautiful country and if direct flights become available the prices will go up. To buy something similar in the south you would pay nearly 3 times that amount. I dont expect to make a quick buck and will want to use it for my family and friends with a few rentals to cover the mantience charges and my flights each year.
If nothing changes then i will have a great holiday home. I flew into Larnaca when i visited and found it easy to go through the border and there are plenty of flights to the south.
Have you been to the site? If not i can give you more information on the surrounding area. The actual site is still a field but i believe work will start sometime this month.
Hi Scott Thanks very much for that information - much appreciated. No we haven't been to site so any further info would be fantastic. Did you rent a car at Larnaca airport ?
Well the site is on its own with nothing to be seen around it.However there is a large 5 star hotel just around the headland and 5 more in development. These should be build by the time we take occupancy. They are resort style with casinos. There isnt much to Bafra itself but the next village along BOgaz has some nice restaurants. I expect once the hotels and thalassa is built they'l be more in bafra itself.
Got picked up from the airport in larnaca by the developer and stayed in kyrenia. If you hire a car in the south you have to get extra insurance at the border although this is only 3rd party. Other alternatives are to hire a car from the north and get them to pick you up from larnaca - one way transfers are around 35-45 sterling
Hi Scott Thank you so much for all that info. I think we shall try and get over sometime in the near future and have a look for ourselves. All very exciting but a little scary at the same time ! Just think we will be neighbours ! Many thanks and kind regards Val
Hey Scott, I am very interested to hear what you have to say, but also a little concenced 89K is this euros or pounds? I have been tipped off to North Cyprus by some friends and am currently short listing some offers from advice I believe to be reputable and they are around the £40,000 mark for 3 bedroom sea veiw apartments.
I would check that the title deeds are 'Turkish' and not 'Greek'. Property built on Greek land is illegal, although the Turkish government allows it to go on. There is a case which Cherie Blair defended 'Orams' in which the Greek government took an English family to court, Blair won the case but the Greek government will continue. If there is a settlement on the future of Cyprus people may lose out.
I have just returned from the work site and signed my contract for a 3bd ground floor in block 8. It is undisputed title land as per the contract. Work has commenced and loaders were digging up dirt and lining it up in 4 large heaps to indicate the 4 horseshoes of the building.
Beautiful location. The photos only show one view, 180 deg view from the resort and the land around it is conservation, never to be built on.
If you are like me and have bought in Thalassa, hold on and get ready for the ride of your life because with the political situation on the improve, the inevitable entry into the EU and with projected rental income of up to 550 UK pounds per week, 5 years from now we will all be sitting pretty.
hi all i also have just reserved a three bed apartment in thalassa, and am very excited at the prospect of a fantastic holiday home with sea views for under £90k ,i was there in may and things were just getting started there. May i say Fiona was fantastic and her local knowledge endless. I am now looking for a good lawyer do any of you reccomend any one.also cant wait to hear any updates on progress out there. Darren i love your enthusiasm it helped put any doubts out of my mind. bye for now hopefully a smart one.
