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Ziya Toygan from Real Estate Extra answers

In our program, HangiEv.com asks, our guest this week is Ziya Toygan, the Director of Extra Real Estate.

HangiEv.com asks: What distinguishes you from other real estate agencies?

Mr. Ziya: Hello. Let me give you some brief information about Emlak Extra company. We established our company in January 2013. We are a local brand. Of course, when we were establishing our company, we had some lines that we set ourselves. Of course, I believe that they are the same in the real estate business, more precisely in every sector, but establishing a trust-based relationship with our customers and without breaking this line. We see that there are many agencies, especially in the Kyrenia market. There are perhaps a hundred large and small companies and Offices . Of course, there are very important franchises and very crowded offices. We are trying to direct our customers, especially by working with a narrow staff, growing in a controlled manner, without causing any mistakes in the work we do. In this way, because this is the business of buying a Property , or rather, real estate is actually a very important profession. Although it may seem a little simple from the outside, we do not have the luxury of making a mistake in this important decision that people may decide once in a lifetime, or even invest all their savings and maybe buy more by borrowing. That's why our duty here is to provide our customers with their dream home at the right price and in the fastest way.

HangiEv.com asks: How is the demand and activity in the market today?

Mr. Ziya: We can see that the market is moving now. Unfortunately, we encountered a market that stagnated or even slowed down during the pandemic period. But we also see that both the pandemic has come to an end and the demand has obviously changed at the moment. For example, while the sale of more investment Apartment continued on demand, there is a very high demand for Detached House, Villa and even Land and land before the pandemic. I can say that most contractors even sell the villas while they are in the project. In these last years, maybe 90% of our sales are on Villa and Land, for one, one and a half years. In the meantime, of course, the demand for rent, which has slowed down in the pandemic, has accelerated in the last period. In fact, it has reached the point where it cannot find a Property to rent in these last months. This naturally caused the rents to rise a lot in relation to the demand.

HangiEv.com asks: Why should Ziya Bey invest in Northern North Cyprus?

Mr. Ziya: Northern North Cyprus has always been an attractive country for foreigners due to its location and being a safe country in terms of weather conditions. Especially if we talk about Kyrenia , where we do business, it is the city with the most hotels and universities, that is, the city with the most investments. That's why it's both a lively city and a beautiful city to live in, and of course, Kyrenia is the area where the most Property are sold and the region where the most transactions are made. Of course, this mobility always provides high rental income. This makes investors very happy. In this way, since there is both a high rental income and a foreign currency rental income, the amortization period purchased provides an average return of 10-12 years. But, for example, if we compare with Turkey, the prices there are of course very high and the rental income is not as high as in North Cyprus when you compare the prices. That's why it takes 20 years or even 25 years. On the other hand, if we compare the prices in North Cyprus with, for example, Southern North Cyprus or Turkey, the affordable prices always appeal to the investor. We have an advantage. At the moment, of course, the prices are affordable compared to those countries, but considering that these prices will increase exponentially in case of a possible peace, it is very logical to buy a Property in North Cyprus right now. North Cyprus is also very attractive for people who are tired of the turbulent life in big cities. Because a very calm and livable life motivates many people to buy a Property to live in North Cyprus .

HangiEv.com asks: Mr. Ziya, what are your recommendations to investors and what are your advantages for investors?

Mr. Ziya: I can recommend people who will invest in North Cyprus as follows. For example, those who will buy a Property for investment purposes can definitely rent their house and make a profit when they sell it. This is definitely a fact. Of course, it is very important for them to invest in the right Project and in the right location. My advice to those who will invest in the future is; Land is their investment in land, that is, land. Because you know North Cyprus is a small island country, so we have limited land area. To give an example, for example, what we call the white zone in the Kyrenia Centre; The area that has an apartment permit, that is, where an apartment can be built, is actually a very narrow section. There, too, the number of vacant, available lands is decreasing day by day due to the projects being done. When you think about it like this, it automatically causes the price to rise. On the other hand, we see that many companies are doing parceling projects not only in Kyrenia but throughout the island, and we observe that the projects are sold very quickly. This is actually a proof for us that investing in soil is the smartest investment.

HangiEv.com asks: Mr. Ziya, what are the conditions and negativities that force the real estate market?

Mr. Ziya: Of course, there are points in the real estate market where we encounter difficulties. First of all, our bureaucracy works very slowly. You know, the permission of foreigners to buy a Property recently, you know, was able to buy a single Property , now it has been increased to four houses. Although this is a very positive development, there is an application and evaluation process, namely an investigation process. This lasts for months, sometimes 3-4 months for the citizens of the Republic of Turkey. Let's say in third countries, for example, customers like Russians or Iranians take at least 6-7 months. This is actually not a very acceptable time; It is a very long time that will put both the buyer and the seller in trouble. In fact, this procedure needs to be accelerated. Considering that our state also needs income when you look at it both in terms of the market and in fact, as far as I know, there are people in the market waiting to buy a Property applying for this permit, as far as I know. When these are taken over as soon as possible, I can foresee that a very serious income will come to the state from these purchase, sale and transfer taxes. I think that accelerating these will both pave the way for the investors in the market and will be a very good income for the state. Another problem we have is illegal real estate; Unfortunately, it cannot be avoided. There is both the fact that the informatics law has not been implemented in our country, and there is an ongoing effort to pass a draft law to the Association of Realtors, but unfortunately, no result has been reached yet. This, of course, creates a very negative thing, unfortunately. In this way, this is actually a threat to both buyers and sellers. Because it can lead to wrong investment. In other words, it may cause a wrong investment to an outsider because he does not know whether the real estate agent is registered or not. I also think that it is the biggest factor that threatens the prestige of our profession. Another problem we have in the market is the issue of cob types. As you know, there are 5-6 types of Deeds Type in our country. This is of course a system that is not implemented anywhere else in the world. That's why we have a hard time explaining this to outside investors. I think this should be removed asap. Because I really see it as a very serious problem for us to tell a person from abroad about these types of titles and to trust them and make them invest here. I think that our state should stand behind all these titles, which were transferred in the title deed and collected taxes. The variety of title deeds creates an atmosphere of insecurity. It also makes it very difficult for us to do business.

HangiEv.com: Thank you very much for your time.

Mr. Ziya: Thank you for giving me a place. Our entire portfolio; You can find all our ads for sale and For Rent on the website of HangiEv.com .