Buy Villas In Cyprus…A Dream Come True
No commentsIf you are looking at property investment, a holiday home or just somewhere new to live, well Cyprus probably tops the list both for today and for the future. Ever since Cyprus became a complete member of the EU it’s economic growth has progressed steadily, resulting in it’s rising popularity. The foreign resident population has developed in a big way forcing up property values as it becomes clear that it is a very special place to live in. It really is a dream come true opportunity as far as property investment is concerned and recently it was claimed to be becoming the Florida of Europe.
Cyprus is a very rich country in natural resources down to its perfect location and excellent all year round climate. Excellent progress has also been made in communications, transport and trade due to it’s new relationship with the EU, which provides Cyprus with 50% of it’s trade. This is boosted up with the nearly 3 million European tourists that visit Cyprus every year. Cyprus is geographically located close to Africa and the Middle East which turns it into a very unique country for property investment.
The property price index has been on the rise for the last few years and if we are going to take notice of the present indicators this will not change for many years to come. At the same time and a very exciting factor is that new property development is still rising too as supply is still lagging behind demand. If you don’t want to lose out on potential profits then you should really get moving fast as what we are witnessing here in Cyprus is the same as what happened in Spain 20 years ago and we know how much money was made there.
You will pleased to hear though that you will still be able to find property investment options through a very competitive Estate Agent and Developer sector. You may find that they are just too helpful though so do your homework before taking on the property agents on their territory.
Another fortunate aspect of buying Cyprus properties is that many Cypriots speak English as a second language (it’s taught in all the schools). Moreover, since all of the solicitors and property agencies have English-speaking staff, there’s very little likelihood that you’ll experience any communication problems during business transactions. Yet another favorable aspect is that, as a result of Britain’s occupation of Cyprus up until the 1960s, Cyprus’ legal system closely resembles the UK’s legal system.
There are two big differences though for non-residents in Cyprus, the first being that you are only entitled to own one property although changes to this rule are in the pipeline. The second is that the final title deeds can take up to five years before you receive them although this would not be a reason to set you back from selling on the property before they are ready. If you need more information on property investment in Cyprus then take a look at the blog at cyprusinformer.com and you will find everything you need.
Monday, June 30th, 2008 at 10:36 pm and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
