LIVING IN NORTHERN CYPRUS Northern Cyprus is the undiscovered gem of the Mediterranean but not for long. Property prices are extremely low but industry experts expect a boom time over the next few years as more and more people come to realize the opportunities available. Cyprus is the third largest island in the Mediterranean and a crossroads between the Middle East and West. It has a rich cultural history having been occupied by different civilizations over the years. Many of these have left their mark in terms of impressive ruins, castles and artifacts to view. Scenically Northern Cyprus is beautiful with the impressive Five Finger mountain range down its spine and miles of un spoilt beaches. The weather too is one of the most wonderful climates in Europe. The island boasts 300 days of sunshine a year and Spring arrives in February. Living is easy in Cyprus. The people are extraordinarily friendly and always happy to strike up a conversation with you. English is widely spoken even in the remotest areas. There is minimal crime and every one drives on the left as in the UK. Although the currency is Turkish Lira, Sterling can be used in most places. Food and conveniences are readily available and for the most part much cheaper than in the UK. Eating out is very reasonable and a real pleasure. There are so many restaurants to choose from and evenings can happily be spent outside eating Meze watching the world go by. For the energetic, there are many activities to pursue year-round. All the usual water sports are available with the sea beautifully warm for most of the year. Scuba diving is also on offer. In addition to cultural sights, inland there are many wonderful walks and mountain trails. With the help of Continental Estates you can secure your own piece of this fabulous island and its approximately only four hours flying time away.COST OF LIVING The cost of living in northern Cyprus is very low compared to other parts of the Mediterranean. Utility bills are extremely good value, for an average sized apartment you would expect to pay only £200 to £300 a year in bills for electricity and water. Most supermarkets now stock leading British brands and although these are slightly higher than in Britain, Turkish processed goods can be purchased at a fraction of that. Alcohol and cigarettes are exceptionally cheap. The average restaurant bill with drinks is £10-£20 per head. You can pay directly in pounds or euros in all restaurants and supermarkets so you don't lose out on conversion rates. CLIMATE AND NATURAL BEAUTY Hidden away from the eyes of a rapidly changing world, the unspoilt beauty of Northern Cyprus is probably the Mediterranean's greatest secret. An enchanted land of dramatic mountains, historic castles, golden sandy beaches and a culture as long as that of civilization itself. A wonderfully warm welcome from the local people awaits you, their famed hospitality is equally matched by their love of good food. The Turkish Republic of Northern Cyprus (TRNC) enjoys a superb Eastern Mediterranean climate with long hot summers and short mild winters with the temperature in Dec/Jan rarely falling below 15C. The northern coastline that borders the Girne (Kyrenia) mountain range is accepted as being one of the most beautiful areas in the world in which to live. An unspoilt and uncommercialised haven. POLITICAL The recent referendum confirmed the desire of Northern Cyprus to join the EU as part of a united Cyprus. As a result, Northern Cyprus is going to benefit from EU assistance, direct flights and likely recognition as an independent state. Turkey is also seeking admission to the EU, which it is highly likely to achieve. At present TRNC remains a duty free country with an open border to the EU making trade, tourism and access simple. It has its own democratically elected government, which has strict but sensible guidelines for land use and development.

LIVING STANDARDS It is true to say that retired people and families who come to live in Northern Cyprus enjoy a much higher standard of living than their UK counterparts, with pensions having a much higher purchasing power, and with the reassuring knowledge that one is living in a safe environment. There is virtually no crime to speak of and the country is reminiscent of UK standards long lost where hospitality, politeness and the general enjoyment of life are the daily norm. For younger people with families, there can be no finer, safer and healthier environment in which to raise one's children, and being in a position to earn one's living in Northern Cyprus can only be considered a bonus. EDUCATION & MEDICAL North Cyprus has no less than four universities and excellent schools. Frequently asked questions 1. What are the title deeds of the property and what do they mean?. There are four different types of title in Northern Cyprus and they are as follows. a. Pre 1974 Turkish title is an international property title and recognized by every law in Europe, Turkey and the rest of the world. This title is considered completely safe and free from any compensation claims from any third party be they Greek or otherwise. b. Lease Hold Title. The Government owns this land and will grant renewable 49 year leases only. Continental Estates do not currently promote any developments on this kind of land. This land tends to be used mainly for commercial projects such as hotels/casinos c. Esedger Title. This is land that has been exchanged for land in the south and given to Turkish Cypriots for land that they lost in the south after the 1974 conflict. This land is considered completely safe. d. TMD Title. This is land that was abandoned by the Greek owner, again as a result of the 1974 conflict and has over the years been gifted to Turkish Cypriots that have been recognized as having given services to the TRNC Government, such as the military or Government officials. Until recently this land has been subject to the very controversial compensation scheme and no one has ever been able to say who will be held responsible for these claims. Until Now!! A new compensation board has been set up as a result of Turkish intervention to help protect ANY investor whether they be Turkish Cypriots, Turkish nationals or ANY foreign investor wishing merely to own a holiday home or invest in the exciting construction boom that is currently in Northern Cyprus. This board is being funded with 7 billion dollars coming from the Turkish Government, the UK and the USA. The reason for such generous aid from the UK and the USA is that the UK wants Turkey and Greece to come to a resolution and therefore make Turkey and the whole of Cyprus eligible for the EU and the UK and the USA in the shape of the UN want to have some military presence as the middle east is only 1000 miles away. The end result, and as was stated by the Northern Cyprus Prime Minister, is that “No investor in Northern Cyprus, national or otherwise, will be responsible for ANY claims on Esedger or TMD land as it is not their fault that these claim exist, and the responsibility of any compensation payment will be the responsibility of the government.” The government have declared that any Greek Cypriot with a genuine claim and proof of title will be eligible for compensation directly from the government without any charge to the new owner. 2. How much do I need to budget for costs? As in any country there are buying costs when buying a home in Northern Cyprus. If you are just an investor and planning on selling before you complete there are only your lawyers costs which vary from 700 – 2000 pounds depending on the size of investment. If you are buying a holiday home to keep then on completion of your new home there are additional costs. Obviously you will have your lawyers fees as above and on top of this you would have to pay notary fees, property transfer tax and KDV (VAT) which is 5% of the original valuation which is normally about 50% of the sale price. If you were to add all the costs they would come to no more than 8% of the purchase price. 3. Are the properties classed freehold or lease hold? All properties that we have on our system are Freehold with internationally recognized title deeds. Once you have completed your purchase your lawyer will register your ownership and you receive your title deeds approximately 6 months after completion. Continental Estates does not sell or promote any property that is lease hold or built on lease hold land. 4. What sort of rental income can I expect? Ever since the boarder opened in May last year Northern Cyprus has experienced a boom in construction and tourism. The hotels are quite literally bursting at the seems with our own construction company having just completed a 100 room extension at the Merit Hotel in Girne. Many new hotels are under construction at present and many more are planed. This is very good news for property owners in Northern Cyprus as many owners are experiencing fantastic returns and full occupancy levels, gaining as many as 35 weeks rental a year for the serious land lord. Prices vary from hotel to hotel but a good quality hotel is on average between 50 to 150 pounds per night depending on star rating and location. We anticipate apartments to be between 250 to 600 pounds per week depending on season and villas to be 500 to 1000 pounds per week. 5. Are there any finance options available? NOT UNTIL NOW! Unfortunately there are not any financial packages available to non nationals on any property purchases in Northern Cyprus. However at Continental Estates we have recently secured a deal with one of the leading banks in Northern Cyprus for Savyon Village Villas over 10 years. This development will consist of approximately 90 detached villas all with fitted kitchens, air conditioning and private swimming pools in a closed and gated community. Details of the above offer are available upon request, please call one of our property consultants on 0871 717 6040 Elsewhere we have various payment plans depending on the location of the property you want and the completion date. 6. How much are community charges and yearly costs? On average the monthly community charges on a typical development are 40 pounds per month for 2 bed apartments and 50 pounds per month for 3 bed apartments. This will cover all the costs of the community such as electricity, pool maintenance, garden maintenance, external building maintenance, maintenance of all communal areas and rubbish collection. All the owner will be liable for is the internal up keep of your property unless you rent the apartment through our management company which will allow for breakages and any damage causes by rental clients. If you own a independent villa the yearly costs will depend on the property as some areas in Northern Cyprus do not run a community system and therefore you can buy properties that don’t come under a community, however if they do, as a general rule of thumb most communities charge between 500 and 1000 pounds a year for general maintenance and up keep depending on the facilities they provide. Additional costs are electricity and water which are approximately 150 pounds and 300 pounds combined. Northern Cyprus is considered to have one of the lowest if not the lowest cost of living on the whole of the Mediterranean. 7. When are the properties due for completion? All of the developments that Continental Estates are involved with vary with completion dates. For further details of a specific project please call our freefone number 0871 717 6040. We will give you the scheduled build times with updates on a regular basis. 8. Are there any building guarantees? All of our projects under construction are covered with extended building guarantee. Which means in the unlikely event of the developer going bankrupt your investment will be covered and taken to completion. There is also building guarantee when the project is complete against building defects building movement and general repairs of any building defects. 9. How do we get there? Currently the easiest way to get to Northern Cyprus is to flight direct to Lanaca Airport in the south and drive over the boarder. Now the boarder is open this normally takes approximately 45 minutes to an hour to get to Girne in the north. There are daily flights from most of the international airports in the UK including Heathrow, Gatwick, Luton, Birmingham, East Midlands, Manchester, Newcastle, Edinburgh and Glasgow. It is also possible to fly to Ercan airport in the north, but, as from the time of writing you have to fly via Turkey which can add an extra 45 minutes to your flight. However on the 27th July 2005 the first direct flight flew into Ercan airport and we predict that by the end of 2006 there will be direct flights to the north from the UK and many more European destinations saving you 20 – 30 minutes transfer time when you arrive.