i am new to investing in property and am looking to find a decent investment - my feeling is northern cyprus and berlin are both great places to buy at present but i need advise on the best way to go about doing so- do i 1) enlist a english property lawyer who deals with overseas investment , go over to the country find a place through an estate agent put an offer in and then get my lawyer to sort it out... i will need a mortgage for some of the investment..how do i go about sorting this out are there specific banks that will give euro mortgages 2) or do i go through a company like dreamhomes.com- i know i might pay a bit more but is it so much more that it would not be woth the convienance. Has anyone had any experience with dealing with these company's who offer the whole package if so which are the credible ones

thanks

yours naively

Hi, satr, i give you advice to look at mountpleasantlettings.com, they do all you need since ten years.

I wouldnt touch Northern Cyprus with a bargepole.

Apart from Turkey not a single country in the world recognises it since its illegal invasion. what do you think will happen to your 'investment' if, one day the Turks get kicked out and the rightful owner of the land wants it back?

Stay well clear of Northern Cyprus. Where did you get the thought of investing there from? Its a crazy place to put your money.

Berlin is ok providing you are willing to wait 5-10 years to see any capital appreciation.

Your better off investing in Czech, Poland, Romania or Bulgaria. Cities not muppet 'coastal & ski' resorts where there is no resale market at all.

cheers guys- yes i am willing to wait 5-15 years for appreciation- the idea of northern cyprus was taken from a family memner who has bought land and is developing flats out there- i may add it is not one of his flats i was going to buy. Apparently the land available falls in different categories ie those that never had greek claims, those with resolved claims , and those still under dispute. he was encouraging me to buy land that either had resolved claims ie compensation has been paid or one that never had greek claims. Berlin is my particular favourite - i just feel with the historical importance of the area once they have built it up it could be a main european capital...just a hunch though

I invested in Berlin and elsewhere in Germany. It's not a fun place to invest as the burecracy is bewildering, as are the Tax rules and requirements.

I did look at N Cyprus but felt Morocco to be a much better bet with large safe developers, especially those bought about by the Government - the 'Plan Azure' developments due to start to complete around 2010. The Saidia development I think with be one of the best most soughtafter development in the world. Appartments there from £54000 with 70% mortgages - 11 hotels on the same sight to feed future rentals, Governemnt rental agency onsite (Azure Management), probably the largest range of sports and leisure facilities in the Med and the largest marina in the Med which is 70% finished.

The planners began work in 1999 and the core aim of the Plan Azure resorts is to provide year round activity. The King is very fussy and keeps making changes that seek to underpin this extended season goal.

In N Cyprus you might have a nice property but nothing out of the ordinary so the commodity value wont be particularly high. The Morccan Plan Azure sites have no competition and are far more impressive than anything you will enciounter in Spain or Portugal.

Read the many other posts about Northern Cyprus on here and you'll find it's not as simple as that.

In my mind Northern Cyprus sounds like a far more risky investment than Germany due to potential political instability. Having said that, high risk can lead to high reward. Still, I wouldn't embark on a risky investment unless it was with money that I couldn't afford to lose a substantial proportion of.

Hey Satr,

I know it sounds boring but I really think you need to take a step backwards.

To have narrowed your investment options to just 2 when you are looking for long term profit will not be beneficial to you at all.

Search the forums, watch the speciality press, visit the property portals and be alert to everything that is going on.

The world is your oyster and when you are prepared to wait 5-15 years for your return you really have some exciting choices to make.

Wheretheview is giving you sound advice. Take your time...there are always opportunities out there!
You need to think about why you want to invest - for capital gain or potential rental income also? Will you want to use it as a holiday home at all or retire there?
Also, How will you finance? Euro mortages are available on certain countries -& most definitley not N Cyprus! Euro mortgages may not suit given the fluctuations in currency rates- some mortgages are available for overseas properties in sterling but again only for specific countries...or are you looking to remortgage on your UK property?

Dispassionately assess the risk level you are prepared to accept...the higher returns are in emerging markets but the risk element is consequently higher. Both areas you mention are high risk for different reasons...Germany has historically had low real estate prices...various pundits on this & other forums are therefore predicting a sharp rise...but against that is that the Germans have no history of owning their property...but if your interested in rental incomes & select the right area in Berlin.....?? who knows BUT N CYPRUS!!!!!???????
PLease do listen to the warnings against N Cyprus, it is a lovely spot but you cannot even trust the lawyers out there to give you the correct legal facts....noone is completely sure of the situation it is just not as simple as you have been told by any means! So why give yourself another headache when you are just starting out? Good luck with watever you decide to do but don't leap before you've had a good long look!!!