Whatever form of Cyprus property investment you are looking from, from villas and apartments to fly-to-let, you'll find it here.
We have found everything you need to know about investing in Cyprus properties, whether it is in Paphos (or Pafos as the Cypriots call it), Limassol, Kyrenia, Nicosia, Ayia Napa, or even Northern Cyprus.
In all rapidly expanding property markets there are always bargains to be had should the astute property speculator know just where to look for them. The Cyprus property market is no exception even though demand is high in most parts of the Island. There is always a certain amount of speculating going on in such a fast paced market with investors and Cyprus property developer businesses both needing to "turn over" their investments to plow into the next project. Out of just such conditions evolve what some term as "motivated buyers" or more precisely people who need to sell.
In the case of the non-Cypriot, a prerequisite of registration is evidence that the property has been paid for with foreign exchange. When one buys a piece of land or a house, the seller as a rule must have a title-deed in his own name which can be transferred to the purchaser. However, if one buys a flat, especially one still under construction, there is no title-deed in existence for the flat and sometimes the seller does not have a title-deed even for the land on which the building is being built because it may still be in the name of the original owner from whom the developer has purchased the property and to whom he stills owes money. These are matters which the purchaser's lawyer must consider and embody in the contract, as well as take such other steps as may be necessary so as to safeguard the interests of the purchaser.
The application to the Council of Ministers to acquire immovable property in Cyprus can be made within a reasonable time after signing the contract of sale. Property Registration / Transfer Fees Real Estate Transfer tax-fees are necessary in order to transfer FREEHOLD ownership to the name of the purchaser. This can be done as soon as the relevant Government Authority has issued the title deed and the purchase has been completed. The Transferee is responsible for the tax payment.
If you are depending on the rental income, then you need to make a comprehensive and effective plan yourself to make sure you receive the highest possible number of rentals. A well known maxim is 'talk is cheap' and if any property management company start making promises to you of occupancy rates, you should immediately be suspicious. Unless they offer to pay you the whole rental season up front. Generally, it would be unwise to sign up for an exclusive deal with anyone. You could end up with no rentals, and still have to pay the company commission, whether or not they let it.
In 1974 the Turkish army invaded Northern Cyprus and claimed it as their own and declaring the Turkish Republic Of Northern Cyprus or T.R.N.C. as it is also known. They have been there ever since despite worldwide condemnation and trade embargoes by many of the U.N. countries. Whilst this article is written without any political bias there are certain problems that exist between the Greek Cypriots and their Turkish neighbors which you should bear in mind before buying a cheap Cyprus property in the North. The only government that recognizes the T.R.N.C. is in fact Turkey so there are certain issues regarding who would actually own your cheap Cyprus property at the outset.
As the face of tourism in Cyprus changes from big hotels and holiday apartment complexes to private apartments or villas, buyers of Cyprus apartments are cashing in on a huge rental market to cover their loan repayments. This is a win win situation for those who own Cyprus apartments and those looking for private holiday accommodation too. The apartment owners can rent their Cyprus property out whilst theyare not using it themselves and make a tidy income on their investment at the same time. All this whilst they sit back in the sun watching their Cyprus apartments go up in value year after year.
With so many new Cyprus luxury apartments springing up all over the Island you won't have any problems finding one that's perfect for you. Whether you want to enjoy the bustling resort life or experience the more laid back living style of a traditional Cypriot village community a luxury Cyprus apartment is a great way to do either. You can even rent a luxury Cyprus apartment long term at prices well below those in the U.K. which makes Cyprus a great winter destination too.
Many people who have rented a luxury apartment in Cyprus have been well and truly bitten by the bug prompting them in turn to purchase an apartment in the sun all of their own. With so much on offer in Cyprus it is no wonder that so many holiday makers end up buying their own luxury Cyprus apartments which they in turn share with family and friends for countless years to come. With property prices in Cyprus continuing to rise some may argue that there has never been a better time to buy some Cyprus real estate for yourself.
Make sure yourself that the property sale is registered at the Land Registry within sixty days of signing the contract, or you may find that you encounter problems.
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