any one selling at a profit

wattys


Joined: 07/10/2008
Posts: 278

Message Posted:
05/01/2010 13:06

Has any one sold their property and made a profit in TRNC or is it just the agents and solicitors making cash.

ttoli


Joined: 24/03/2007
Posts: 1172

Message Posted:
05/01/2010 13:23

If you bought at the right time(pre Boom of 2003/4), Yes indeed, a friend has just sold the 3 bed Apt that She bought in 2001 for £19k!!!, and resold it for £76k, so not a bad profit margin.

TRNCVaughan


Joined: 27/04/2008
Posts: 4578

Message Posted:
05/01/2010 13:51

Bought my first property in 2002 for 20k sold it 4 years ago for 45k.

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
05/01/2010 15:53

It appears that some are making a profit on resales on SEA TERRA MARINA TATLISU but deeds are in place and it is in a prime site overlooking the sea so that could have alot to do with it .

chrism


Joined: 27/10/2008
Posts: 1465

Message Posted:
05/01/2010 18:06

We are selling properties at a profit for both ourselves and our clients. http://www.northerncyprusgroup.com



thanks

stockiefan


Joined: 04/05/2009
Posts: 574

Message Posted:
05/01/2010 18:10

We have our villa on the market for two years and not had a sniff :( Of course we think its reasonably priced and in a decent area (Ozankoy) all taxes paid Etc. Good job we are not in a real hurry to sell!

AnthonySmith


Joined: 14/05/2009
Posts: 455

Message Posted:
05/01/2010 18:12

Some people have done. My information having trawled round estate agencies in recent months looking for somewhere to rent is that the sales market is doomed but renting is on the rise.

AnthonySmith


Joined: 14/05/2009
Posts: 455

Message Posted:
05/01/2010 18:17

And I meant to add they could turn a profit that way. Average rent £400 a month? Nearly £5,000 a year? For those who bought early, kawow. I know one person who bought Turkish title deed about 10 years ago for £17,000. I don't know what it would be worth now.

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
05/01/2010 19:32

Frank & Joan (frankandjoan.com ) have their beautiful villa for sale but no luck for over a year. As most of us know from his website they moved to NC in 2002 and are now moving to France.

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
05/01/2010 19:54

In MY opinion, F&J's property is massively over-priced. You can buy the same type of property (with the ground floor converted into living accommodation) for a lot less than theirs.

dalartokat


Joined: 14/04/2008
Posts: 734

Message Posted:
05/01/2010 20:59

joandjelly, they were also selling with furniture and car but are now considering removing them and altering the staircase, if after doing this do you think it will still be overpriced in your opinion. Sylvie

Moover321


Joined: 11/04/2009
Posts: 649

Message Posted:
05/01/2010 21:17

Depends how you define profit!



1. A home is just that a home and NOT an investment. If you bought a home and have lived in it - you would have gained pleasures and pains which you cannot quantify in terms of money alone!



2. If you bought a property as an investment - say to rent out the you can calculate your return or loss on your investment. If you now decide to sell that asset you would roll up this profit / loss in to point 3 below.



3. If you bought a property on speculation that the market would only move in one direction (up) then depending on your timing fortuitous our otherwise - you may or may not have made a profit or loss. It also depends on which currency you used and you would have to calculate the opportunity cost of the capital invested (alternative risk free investment).



All too often the simple numbers game is a poor calculation of whether someone made a profit or a loss.



When you add up everything you have something quite valuable - Experience

Moover321


Joined: 11/04/2009
Posts: 649

Message Posted:
05/01/2010 21:20

** Of course in point 1 - you could capitalise on your equity of your home if you downsized. Again, this is NOT a "profit" as on a like for like basis - the property would cost the same.

Quizmaster


Joined: 06/09/2009
Posts: 54

Message Posted:
05/01/2010 23:58

Dont want to make a profit, Would sell for what we paid, all improvements thrown in, so we can 'upsize'.

Moover321


Joined: 11/04/2009
Posts: 649

Message Posted:
06/01/2010 00:04

Quizmaster:



What exactly are you selling?

Quizmaster


Joined: 06/09/2009
Posts: 54

Message Posted:
06/01/2010 00:12

We have a three bed bungalow Lapta/Karsiyaka seaside. A small development surrounded by olive groves. Really lovely. A couple of others are priced at 99k and 95k. We'll take 87k. You could even squeeze me a bit more for a quick sale!



Can mail you details if you are interested.

Moover321


Joined: 11/04/2009
Posts: 649

Message Posted:
06/01/2010 10:52

Thanks...

Quizmaster


Joined: 06/09/2009
Posts: 54

Message Posted:
06/01/2010 12:01

Hi Moover



email

foxwood2010@googlemail.com







and I will be in touch.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
06/01/2010 21:23

Seems like the property Market is still moving - somewhat slowly.

Vidal


Joined: 14/05/2009
Posts: 867

Message Posted:
06/01/2010 22:05

Lets hope so No1...And for every negative post regarding the problems some have had buying here, there are loads of others who are too busy enjoying their life, their homes and their friends in the TRNC to post on here!

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
06/01/2010 23:01

must be the best time to buy !!!