Buy Homes In Cyprus: Benefits And Issues
Cyprus is the ideal place to buy many different types of property: a holiday home, a new place to live permanently or property investment. When it joined the EU Cyprus saw a rise in its popularity and rapid economic growth. This has led to a lively and fast expanding community of expats, but property prices are still relatively cheap. This makes Cyprus a wonderful place to make a home. Your dreams can be realised when you buy homes in Cyprus. “Buy sell Cyprus” is a catchphrase heard all over the island.
Cyprus today enjoys the wealth of all of its resources from its prime location and magnificent weather and now being a full member of the European Union, it has made tremendous advances leading to vast improvements in communications, transportations, trade and shows growth in all the economy indicators. The EU constitutes more than 50% of import and export and over 70% of the 2.4 million tourists in 2006. Cyprus also maintains strong political ties with the middle east region and Africa. That explains the surge in interest to buy cyprus property.
Cyprus property is a hot ticket on the market today and future projections show this trend continuing for a good while. Even with an increase in construction of houses, it does not appear that supply will outweigh demand in the near future. If you have been interested in purchasing in Cyprus you should do it now before the prices get too high, there were many who hesitated to get in on the ground in Spain before their boom and they are all regretting in now.
There are a great number of houses and villas available to interested property investors spread out over the island of Cyprus. So much so, that it can be exhausting to choose from the many real estate agents and developers available. This is why it is imperative to research the Cyprus area before jumping in and making a choice. Buy Sell Cyprus are the country’s leading estate agency with around 25,000 homes for sale all over Southern Cyprus.
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.
You should be aware of two important differences: Firstly, that as a non-resident of the country you are only permitted to own one piece of property on Cyprus. This regulation may change in the future. Secondly that if you buy a new property on Cyprus then you will not receive the deed until up to five years afterwards. This is common and does not stop you selling your Cyprus property in the intervening time. It is even possible to invest in such a property and to sell before construction is completed. That’s why many property investors decide to buy homes in Cyprus.
About the Author
Adrian Jones has been involved in the
Cyprus property
market for many years. This article outlines one of the many benefits that motivates people to
buy homes in Cyprus
.
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