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.
Cyprus property market has being said to be one of the fastest growing property markets in Europe. As reported by many agencies sales investment property is indeed one the of the most popular options exercised by local and foreign investors. Due to it's radical growth, the tourism industry has made very feasible the process of 'buy to rent'. The way it usually works is very similar to the US time share market, people spend their holidays in their apartment in Cyprus, once that period has passed they go back to their home country and rent it out once again.
When you buy your cheap Cyprus property it works slightly differently in two distinct areas. Firstly as a rule of thumb the developers don't give sellers of the land any money! Bear with me here. They instead build for them several houses depending upon the size of the plot and the deal done ect. On a typical plot of sixty detached villas seven or eight would be built for the land owner and his family to own. With some four bedroom villas being worth over £cy250,000 this practice is turning many a poor Cypriot farmer into an overnight millionaire! The evidence of this new found wealth can be seen in the ever increasing number of luxury cars and glamorous power boats that are becoming the norm for many of these ex farmers.
If you have never visited the Island paradise of Cyprus you have been missing out on a great holiday destination. The people are friendly to a fault and the weather is perfect for outdoor life like bathing or water sports. There is a rich culture and history that dates back thousands of years so you will never be short of places of interest to visit whilst there. So be our guest and take a look at all that Cyprus has to offer both as a holiday Island and a brilliant property investment opportunity. Enjoy Cyprus and your luxury Cyprus apartment.
Property writer Kevin Moore told Ready2Invest this week that Cyprus properties in small villages on the coast can be bought for 50 per cent less than in the traditional tourist honeypots.He said: "We aren't talking about tens of miles here, because there are still lots of unspoilt villages dotted along the coast within a short car journey of the larger towns."
When a contract is raised to purchase cyprus property under construction by a developer you will need to employ the services of a local solicitor. The good news is that the legal system in Cyprus is very similar to that in the U.K. and most of the lawyers or their staff speak very good English too. You should check your contract carefully and go over anything you are unsure of with your solicitor before you sign it. The contract not only forms an agreement between yourself and the developer as to the full specifications of your Cyprus villa or apartment it also constitutes your right of ownership to the property untill a separate title deed is drawn up.
Many observers who have visited Cyprus over the last few years can't possibly have escaped noticing how much quieter it seems even in the high season. Quite a few bars and restaurants outside of the main resorts lie empty giving the impression that tourist numbers are dropping.
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 considering whether to buy 'off plan' be aware that you may well get a better deal if you work through an agent, rather than approaching a developer independently. If you do opt to use an agent, you should make absolutely sure that they are fully informed about your objectives and ideals, in terms of budget, location and so forth.
There are many tips that you can follow if you want to buy Cyprus properties. After all, there are a lot of people who have found that this is a great country to live in. But just like real estate in any other part of the world, you need to know what you are doing when it comes to buying Cyprus properties. If you do not, there is a chance that you will end up in a home that is not perfect for you.
The third major area of property developments in Northern Cyprus centres on the town of Bafra, north of Bogaz. Positioned just as the start of the Karpaz Peninsula, development here has been spearheaded by the Kaya Artemis Resort Hotel. This giant reproduction of the Temple of Artemis at Ephesus is a landmark five-star resort and casino, offering a massive 2,400 bed capacity for international conferences and holidaymakers.
So if you really want to live the Cyprus dream there are not that many real obstacles standing in your way that cannot be easily overcome.
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