Previous
Tips For Buying Your Villa on the Magical Island of Cyprus
Added: (Thu Apr 10 2008)
Cyprus is the magic Island of romance, ancient history and stunning weather. You'll find most people who visit Cyprus end up going back some time in there life. What you also find is that a low percentage of people who do go back end up buying themselves a vacation villa, which sits right in the middle of paradise. Cyprus villas are slowly becoming an investments dream, because the property market in Cyprus is at its very early stages of a big boom, like it was back in the UK some eight years ago.
I remember this very well, and I must admit I bought several properties back then and made a small fortune, I still have them all now and they are all rented out to this present day. So why am I telling you this? Well Cyprus is even a better place than the UK, because first of all you get the beautiful weather 365 days a year, cost of living is cheap, the housing market at the moment is cheap, and the best thing is renting.
You can make so much money on renting your villa out in Cyprus, infact on some 3 bedroom villas you can easily charge over 1000 euros a week (800), so as you can see this is easy money, but I must stress that you'll only make this in the peak times. Winter times in Cyprus is still like the British summer, and to honest for the last few years I would even say it's been better.
You'll find your rent is nowhere near 1000 euros a week, it's not far off being half of that, but if you work this out you'll still be making 2000 euros a month on rent, so less you mortgage you'll still be coming out on top. So it's better to dip your feet into the Cyprus property market now and get them wet, than just thinking about it, but always do your research before buying your dream villa.
When it comes to buying your dream Cyprus villa, don't let the language barrier get in your way. You'll find most financial lending institutions will help you out, and they can offer you upto 75% of the value of the villa, but this only applies to non-residents.Cyprus can also offer you bilingual lawyers, who will assist you through your purchase. They are responsible for making sure you aware of all you outstanding bills which have to be paid on time and completion dates. The fee for a good lawyer will work out around 600 euros.
So when you sum this up and look at it as an investment to your future it makes great financial sense. Your Cyprus villa allows you to sit back and watch your financial wealth grow, plus you can have your dream holiday when ever you like. Check out some more really good tips regarding investment in Cyprus on this blog... http://www.cyprusinformer.com/blog/