Low Cost Opportunities in Cyprus Property

Steven Clarke asked:


Following the adoption of the Euro by the Republic of Cyprus earlier this year, the relative cost of Cyprus property has increased with a corresponding drop in foreign investment interest. However, re-introduction of fiscal policies such as tax breaks and incentives for property owners domiciled in Cyprus, along with changes in domestic politics means that investment interest is surging, especially in the north of the country.

The introduction of low cost air carriers such as Easyjet and Ryan Air are expected to drive visitor numbers over the next few years, which will in turn increase rental values and demand for Cyprus property. Easyjet have already established a route servicing Paphos, whilst Ryan Air are still negotiating with the Cyprus authorities. In any event, given the growth of low cost flight carriers, affordable flights can be expected to increase.

Tourism is the primary industry of Cyprus, with year long demand for rental of Cyprus property, and for good reason. Cyprus boasts a sunny climate all year round, with long hot summers that average 27 degrees centigrade in the north, and 30 degrees in the south. Winters are mild, and the temperature will rarely drop below 12 degrees centigrade, making it an ideal tourist destination at any time of year.

Rainfall occurs primarily in winter, with the result that the island is green and verdant for most of the year, and host to a wide range of subtropical plants, including orchids, for which the island of Cyprus is famous. Cyprus is also steeped in history, with ruins and sites of historic interest within easy reach of any potential Cyprus property investment.

Cyprus also boasts many miles of beautiful and unspoiled sandy beaches, with numerous deserted peninsulas and undeveloped areas. For the Mediterranean, this is a fairly unique feature and gives the holiday maker who is seeking peace and quiet a wide and varied range of potential destinations.

These features of the island of Cyprus are relatively unlikely to change in the near future, and all of them represent good reasons for potential buyers to invest in a Cyprus property. However, there are a number of political issues that a potential purchaser of a Cyprus property must take into consideration when making an investment decision.

Following the invasion of Northern Cyprus by Turkey in 1974, the island has remained divided into two separate republics. However, only the southern Republic of Cyprus has been recognised by international bodies such as the European Union and the United Nations.

Following the introduction of an elected government, the Southern Republic of Cyprus was formally accepted into the European Union in 2003 and the Euro was formally adopted as the local currency in February 2008. This has provided political and economical stability to the South of the island, which has prospered in the last five years with major growth in the value of Cyprus property.

Whilst a ‘North - South’ divide remains in Cyprus property prices, Northern Cyprus properties have received a boost after the disestablishment of border crossings in 2005. Furthermore, recent improvements in the political situation have increased the likelihood of the development of the long term resolution of the dispute that has divided Cyprus into its northern and southern regions. This means that there is a real prospect of a major elevation in Cyprus property prices located in the North of the country in the relatively near future.

As with all investment decisions, it is wise for any potential investor in Cyprus property to take expert advice and to ensure that full advantage is taken of any local financial and investment incentives before committing their money overseas.



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Cyprus Property for Sale in Paphos

Kev Moore asked:


Paphos in Cyprus still remains the number one resort on the Islands West coast and this of course has done wonders for property values in the area. There is however still lots of room for even more growth in this lucrative Cyprus property market. Bargain Cyprus properties can still be located all over the Paphos area by those astute investors or holiday home buyers who know where to find them. The prospect of finding good deals on Paphos property substantially increases when prospective buyers open up their options to include resale properties too. The development of property in the Paphos area has been expanding for several years now and many of the older builds are now finding their way onto the Cyprus resale property market.

It’s not just older properties either that are sold under the banner of “resales” because there are large numbers of virtually new built Paphos villas and apartments being sold as resales too. These will usually be in the form of property that was originally purchased “off plan” by speculators with the intention of selling at a profit on completion of the development. Whilst the owners are awaiting a sale they may have been rented either to the lucrative Cyprus holiday rental market or to short term tennants. Many such lets would be to people wishing to live in the Paphos area whilst they await completion of their own new build Paphos properties.

There is even a good chance that your resale Paphos property may never have been lived in at all. Speculators and investors will be advertising these villas or apartments for sale as soon as they are nearing completion and they need to sell to reinvest the capital in the next development. Often as not these properties will have one or two “sweeteners” included in the deal such as fully equipped kitchens complete with all the white goods or maybe even air conditioning thrown in too. Don’t get the wrong idea though these hard nosed Paphos property investors are in it for the money so they may be hard to crack. The bottom line is however that they make money from money so in many ways they could be seen as motivated sellers.

As the old saying goes “money talks” and buyers that have their finances lined up ready are always going to be in a good position to drive a bargain. Property in Cyprus is not immune to this golden rule and particularly in a thriving area such as Paphos so like the boy scouts it pays to be prepared. Unless you have been marooned on some desert Island for the last 50 years you will know that there is big money in property so these sellers do have room to manoeuvre. If you can’t get the deal you want (within reason) move on to another property. Don’t allow yourself to be blackmailed with the usual lines like “this is the last one” the price is going up next week” or any of the other hard sell patter that will most likely be headed your way.

There is always another Paphos property to buy, in fact new villas and apartments are coming onto the Cyprus property market on an almost daily basis. The very fact that all this development continues at such a pace almost guarantees buyers a good deal because the Paphos property developers and speculators have got to sell somewhere. There is little doubt that prices in Paphos and the surrounding area will continue to rise steadily for some time to come so buyers wishing to cash in should move soon. Paphos villas and apartments are ideal for the small investor or private buyer due to their ease of rental especially to the booming holiday market. If you are considering purchasing property in Cyprus Paphos may be a great place to look.



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Cyprus Property Owners Win

Cleo asked:


Selling a property in Cyprus for which individual title deeds exists is a fairly simple procedure. Besides the seller and the buyer and most likely their legal representatives, no involvement is required by the builders or developers. In Cyprus there are 2 basic different types of properties, those that have their own separate title deed and those that form part of a development pending the completion of the development and the completion of the subdivision.

When someone wishes to sell a property for which no separate individual deed exists, the correct way is to have his contract with the developers or builder cancelled then the new buyers need to sign a fresh contract with the developers or builders. As a matter of practice this requires that the first buyer settles any obligations towards the developers or builders, as well as any capital and other taxes relating to the possession of the property and possible gain that he may make from the sale.

What a lot of people do not know when they buy a property without individual title deeds is that the developers or builders will require a payment of a fee, usually called the cancellation fee. This fee varies from company to company and it could be any amount. The recent practice followed by the developers/ builders in Paphos, is to get the equivalent amount the original owner (seller) should be paying as transfer fees if he had wanted to proceed and transfer the deeds in his name. The greed of the developers and builders does not stop at this. Recently many companies are claiming this cancellation fee, despite the fact that their contracts state clearly, that no cancellation fees should be paid, if the buyer decides to sell, before the deeds are made available.

One of these cases, probably the first one in the Paphos district court history was taken to court in 2007 and was successfully completed with the issue of a judgment against the developers for the refund of the cancellation fee. The case concerned a couple from the U.K currently living in Paphos. The case was brought to the court against one of the biggest developers in Cyprus. The court case was concluded successfully in favor of the plaintiffs with cost. Since the decision, many other lawyers are trying to do the same for their own clients.

Cleo is the owner of Cyprus marketing solutions Ltd. a Paphos based company providing proven internet marketing solutions specializing in selling property in Cyprus to families relocating and buying property in Paphos district and surrounding area.



Paphos Property

Weather Forecast For Paphos Cyprus? It Is Hot!

Kate Deas-Smith asked:


A weather forecast for Paphos in Cyprus is always good and so is investment forecast for Cyprus property for sale. The focal point of the town is the fishing harbour and fort; whist moving to the West there are popular beaches such as Coral Bay to the quieter Lara Bay which is a nesting reserve for turtles. There are patchworks of grape fields in the stunning hills and banana plantations on the foothills to the coast. Cyprus property for sale in the area often has both sea and mountain views making it perfect for a permanent residence or holiday home for personal use or the rental market.

The weather forecast for Paphos in Cyprus is hot, around 320 days of sunshine each year, so what better way to enjoy Paphos - in a villa. Cyprus is one of the most beautiful countries in the Mediterranean and is relatively small so enjoying the whole Island will not be a problem.

If you look at past weather forecasts for Paphos Cyprus you will see that it has a wonderful climate. Cyprus property for sale is highly sought after in this area and the weather has a lot to do with this. If you are looking at investing in a Paphos villa, Cyprus will welcome you with open arms. Whether you are looking to relocate or have a holiday home you will not be disappointed. There are some villas set amongst the banana plantations others overlooking vine groves and because of the hills around Paphos the views are amazing.

The city of Paphos lies on the southwest coast of Cyprus was the capital of the island in Roman times, and dates from 1400 BC. The city has become a popular seaside resort with a large population. The Ktima area is the main residential district, while Kato Paphos is the playground of holidaymakers, built around the medieval port with its many luxury hotels, tavernas and entertainment venues. The weather forecast for Paphos Cyprus is usually typical of the whole Island, it may vary by a few degrees but there are no major differences.

To the south of Paphos lies the little village of Yeroskipou where loukoumi (the Greek-Cypriot version of Turkish delight) is made and you can also stock up on earthenware pottery. Check out the ninth century frescoes in the Byzantine church of Ayia Paraskevi (St Friday) and then head north to the Baths of Aphrodite. No matter what the weather forecast says, these are just a few of the many things to do in Paphos, there are many indoor things to see and do and your villa in Cyprus will be an ideal base for exploring all these. There is even a wicked water park close by which is a great day out, to be honest does it really matter what the weather forecast for Paphos is, Cyprus is beautiful no matter what the weather and you will love exploring the Island of Love.

This area has so much to offer, there is a large British expatriate community but it does not take over the 50,000 local Cypriot population, giving the best of both worlds. It is home to its own airport with a new terminal due to open in November 2008. In the future prices of Cyprus property for sales are bound to increase making the investment forecast like the weather forecast for Paphos in Cyprus - hot!!



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Book a Cheap Flight to Paphos in Cyprus

A cheap flight to Paphos in Cyprus,one of those cheap self catering Cyprus apartments and a Cyprus topographical map … what more could the avid holiday maker or property hunter want? A cheap flight to Paphos in Cyprus is virtually being given away now with the budget airlines all trying to compete against each other,so there has never been a better time to get out your walking boots,grab your map of Cyprus and set off.

Once you have flown over on your cheap flight to Paphos in Cyprus there is no need for you to stay in the town,although there is plenty to see and do,why not book yourself some cheap hire car. Cyprus is only small,so really anywhere is within commutable distance,if you do get carried away and lose track of time and cannot make it back to your accommodation,you can always book into one of the other many cheap self catering Cyprus apartments for an overnight stay.

The flora and wildlife in Cyprus are spectacular and in abundance,there are literally hundreds of nature reserves scattered all over the island,there are long and short nature trails,uphill and downhill trails,waterfalls,monasteries and ruins to visit,mountains to climb,mosaics to see and so much more to do and see. Can you see why we recommend a Cyprus topographical map? An ordinary map of Cyprus would have limited use in these circumstances. Cyprus is meant to be explored,so get exploring. Enjoy yourself,after all isn’t that why you came to Cyprus?

Well actually,we know that you really came on your cheap flight to Paphos in Cyprus with the intent of property investment,which is excellent value at the moment,but who said you cannot enjoy yourself? Remember the saying “All work and no play…..”?

Cyprus property is selling like hot buns straight from the oven as the prices are so cheap,now is the time to purchase property as the prices won’t remain static for much longer. Developers are beginning to realise that the interest in Cyprus property is high,so they will soon start to increase their prices. If you really are interested in buying your very own piece of Cyprus,then act now before the prices start to climb. Do not confine your search to just Paphos,look around as there are many new and resale properties available and both offer equally good value. There are many properties for sale in the mountains which tend to be a little cooler in the summer months,many Cypriots own small apartments in the mountains and use them as retreats during the summer as it can become stiflingly hot on the coast and in the towns. Property in the mountains is not confined to small apartments,there are all sizes of property from a small studio to a sizable villa if that is your desire.

Why not book a cheap flight to Paphos in Cyprus,book into one of the cheap self catering Cyprus apartments and then have a good look at what is on offer. We are sure you will be amazed at the value.

Cyprus Paphos Property Buying In The Top Location

Cyprus property is a great investment and buying in a top location such as Paphos makes it an even better proposition still. The old adage “location,location,location applies to property wherever you buy and Paphos is a prime location for Cyprus property of all kinds. The town itself is steeped in a rich cultural history and there are archeological sites in the area dating back to before the roman empire. Everything from tombs and ancient mosaic floors to a genuine medieval fort right on the harbor front. The pretty harbor is lined with intimate cafe’ bars and superb restaurants where you can dine whilst looking out over the clear blue Mediterranean Ocean.

The town is actually two distinct towns or areas. Paphos town and Kato Paphos or upper and lower paphos as they are known. The old town being the upper whilst the newer resort area is known as Kato Paphos. There are lots of shops,plenty of supermarkets and the capital city of Nicosia with all the major stores is only a short drive away. A few kilometers along the coast is the beautiful resort of Coral Bay with it’s long sandy beach and lively strip. There is major development going on all over the area and property prices are already amongst the highest in Cyprus. The good news for the would be Cyprus property investor is that prices look set to increase for some time to come.

The resort of Paphos has over the last few years gained an “all year” status and most of the business now remaim open throughout the winter whilst the rest of Cyprus hibernates from around October to March. This is great news again for Paphos property owners who are now able to tap into a year round property rental market. Paphos is also the top location for many other good reasons not least it’s proximity to the Islands major airport and coastal motorway network. The rest of this beautiful Island is easily accessible and airport transfer times are negligible.

If you are still not convinced that Paphos is the best location for Cyprus property wait up because there is an ace in the pack. Cyprus golf property! Wherever you have golf you have a demand for holiday property and Paphos is the golfing center of Cyprus with the best facilities on the Island just outside the town. With the potent mixture of golf,sun and sea it is little wonder that property prices in the area continue to rise faster than anywhere else in Cyprus.

So there will never be a better time to invest in property in Cyprus especially in the Paphos area. If you are seriously considering buying an apartment or villa in Cyprus you would do well to make the move sooner rather than later. You probably need no reminder of what has happened in Spain where many would be property owners hesitated and lost out. Remember they do say that “he who hesitates is lost” and the current Cyprus property boom could make you a winner or a loser in the real estate race so now is the time to act.

Property in Cyprus : A Good Bet For Investors?

Steven Clarke asked:


For anyone developing an overseas property investment portfolio, investment in property in Cyprus could provide high levels of investment return.

The Cyprus property market is highly dependent on foreign investment, and whilst a strong Euro has made southern property in Cyprus more expensive, there are a range of other factors that are expected to increase holiday market demand and letting rates in both the north and south of the island in the years immediately ahead.

The island of Cyprus is serviced by at least three different airports, with international flights accepted at Larnaca International, Nicosia and Paphos prompting low cost air carriers to set up air routes to the island. Increased budget air travel can be expected to drive visitor numbers, and the World Travel and Tourism Council is predicting an annual increase in visitor numbers of 4.5% to Cyprus this year. This will result in increased demand for property in Cyprus with corresponding increases in property prices and rental values.

Cyprus provides seekers of Mediterranean holidays an ‘all year round’ temperate climate, with Northern Cyprus having long hot summers that average 27 degrees. Winter days are generally sunny with temperatures that rarely drop below 12 degrees centigrade, which means that any overseas property investor has a reasonable prospect of finding rentals for their property in Cyprus during winter, spring or summer.

Rainfall occurs primarily in winter, with the result that the island is green and verdant for most of the year, and host to a wide range of subtropical plants, including orchids, for which the island of Cyprus is famous. Cyprus is also steeped in history, with ruins and sites of historic interest within easy reach of any potential property in Cyprus investment.

Of greatest appeal to tourists and potential investors in property in Cyprus, is the fact that the island of Cyprus is surrounded by hundreds of miles of open, sandy beaches. Investors can choose a location that provides miles of undeveloped seafront locations, or beaches nearer to developed and lively tourist areas such as Ayia Napa, which are ideal to service the young adult and family holiday markets.

Features such as the natural beauty of Cyprus, the miles of unspoiled coastline, climate and history are unlikely to change significantly in the future. However, what political and economic considerations must a potential purchaser of a property in Cyprus evaluate before making a decision to invest?

In 1974, Turkey invaded Northern Cyprus after the attempt by Greece to formally annex the Island. Cyprus has remained a divided island ever since, with two separate republics established, although only the Southern Republic of Cyprus has ever been formally recognised. This has resulted in a north - south divide in values of property in Cyprus.

Following a number of key political concessions, the Southern Republic of Cyprus now has full EU membership and has recently adopted the Euro, both of which have provided economic stability and prompted heightened investment in property in Cyprus over the last five years.

Given the wide differentials that exist in property in Cyprus prices between the North and South of the island, re-unification can be expected to bring about increased property demand throughout the country, and provide real investment opportunities for the wily purchaser.

As with all investment decisions, it is wise for any potential investor in property in Cyprus to take expert advice and to ensure that full advantage is taken of any local financial and investment incentives.



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Cyprus Property For Sale In Paphos - A Fabulous Buy

Many people believe that the area around Paphos has some of the most gorgeous coastline views in the world. It is one of the reasons why they are drawn to look for Cyprus property for sale in Paphos. Many come to vacation and explore the ancient Roman and Biblical ruins,while others come to relax and enjoy the many leisure and shopping bargains that the town offers year round. All would agree that Paphos offers a wonderful warm sunny climate with superb resort facilities that anyone could afford. If you are looking to buy a home in Cyprus,this would be a wonderful location.

As well as Paphos’ Mediterranean appeal,it is also a thriving modern community. This makes it appealing to permanent residents and tourists alike. An International Airport services the area,with direct international flights to many places around the world. There are also modern highways that link Paphos to Cyprus’ other major towns and cities. There is a modern infrastructure which connects all the major towns,there is a major hospital and several schools,where English is a compulsory subject. Paphos also has a major sports complex that draws in spectators year round.

Anyone who has looked at homes for sale in Cyprus will agree that you should look at property for sale in Paphos. It will be an asset that you can use and count on. Purchasing is better than renting - owners never have the worries that renters have. They don’t have to be concerned with the fine print or surprises with their bills - there is no Council Tax and utilities cost a fraction of what most Europeans are used to paying. Owning your own holiday or permanent home ensures that you will feel relaxed and in a comfortable environment that is always available to you. Inexpensive Cyprus apartments are hard to find these days,as the demand for property to meet the rising number of people looking for budget self catering Cyprus apartments has inevitably driven prices up.

If you do research on property for sale in Paphos you will see that it has been a great investment in recent years. If you look to the internet you can find several resources that will back up this statement. Tourism in the area is steadily increasing and there is no expectation of a slow down to come. If you own a holiday home in Paphos it should be quite simple for you to rent it while not using it,providing an extra income. If you decide to permanently relocate then you should be able to sell your vacation home easily to upgrade to something better virtually any time.

Choosing a Paphos property will bring joy to any buyer. The soft,relaxing Mediterranean breezes at night will let you know you made the right choice,whether you choose to relocate long term or just take holidays there. Choosing to buy a Paphos property could be the greatest investment for your future,not to mention the fantastic lifestyle that comes with it.

Find Cheap Properties For Sale In Famagusta Cyprus

Adrian Jones asked:


Dirt cheap properties for sale in Famagusta Cyprus are not available on the island these days, particularly in the Southern part. What’s cheap also depends on your viewpoint too. However buying cyprus property does still make a lot of sense and offers great value for money. These bargains are good for investment seekers as well as for people looking for a second/holiday home. A comfortable climate, stable political and social conditions, very modern amenities and easy access by sea or air are the main attractions. Comparable properties located elsewhere in the Mediterranean such as the Coastal regions of Spain do cost quite a bit more. For example UK£150,000 can buy you a 3 bedroom detached property with pool in most of the popular locations. So don’t just look for cheap properties for sale in Famagusta Cyprus - look for great value for money. While the Northern part of the island may have Cyprus property for sale that is truly cheap, because of the occupied status and political situation such investment may be unwise.

The republic of Cyprus is developing fast as quite an offshore commercial destination. It is close to Europe and a short flight away from the British Isles, the island has a lot of tourist attractions. Opportunities exist for renting out residential properties. The rental income could provide a good return on the investment made.

English is spoken and understood quite well all over the island. Professionals are particularly conversant in the language. Southern Cyprus is well developed today. Schools, hospitals and modern department stores like Debenhams and Marks & Spencer are there in many of these major towns.

Temperatures vary from warm in the mountains to hot in the lowlands. Winter is mild in the lowlands but becomes cold enough for snow during winters in the mountains of the Troodos range. What is most attractive is that it has 320 sunny days a year on average. That alone is sufficient to encourage residents of the British Isles to buy Cyprus property!

The central area of Southern Cyprus is dominated by the Troodos mountain range which runs down to the hilly areas along the southern coast. Main towns and cities are the capital Nicosia, Ayia Napa, Limassol, Larnaca and Paphos. Nicosia is the capital city and comparable to most modern European cities, yet has a mix of the ancient too to make it very attractive. Limassol, Larnaca, Paphos, Ayia Napa, Polis, and Latchi are some very popular places on the Southern coast of the island. Ayia Napa is a major music and clubbing district of Europe. Protaras is another resort town popular with younger people, situated very close to Ayia Napa.

The local system is quite bureaucratic, so it is often better to go through an agent familiar with local systems & procedures. They can help determine the true value of cheap properties for sale in Famagusta Cyprus quite easily. That may add up to 5% to the property cost. Financing is available from local banks up to 80% of the price and repayment periods of up to 10 years.

Taxes and levies are applicable to buy sell Cyprus property as in most places. When you buy cyprus property, Taxes and Stamp Duties related to ownership transfer apply, so does a property tax and a levy by local authorities for conservancy services and street lighting. Cyprus properties for sale also attract a capital gains tax, though inflation related adjustments are available. For example if you lived in the property for 5 years or more exemptions are available. As these tax levels are modest, they do not make cheap properties for sale in Famagusta Cyprus any less attractive.



Paphos Property

Cyprus Property For Sale In Paphos

Paphos in Cyprus still remains the number one resort on the Islands West coast and this of course has done wonders for property values in the area. There is however still lots of room for even more growth in this lucrative Cyprus property market. Bargain Cyprus properties can still be located all over the Paphos area by those astute investors or holiday home buyers who know where to find them. The prospect of finding good deals on Paphos property substantially increases when prospective buyers open up their options to include resale properties too. The development of property in the Paphos area has been expanding for several years now and many of the older builds are now finding their way onto the Cyprus resale property market.

It’s not just older properties either that are sold under the banner of “resales” because there are large numbers of virtually new built Paphos villas and apartments being sold as resales too. These will usually be in the form of property that was originally purchased “off plan” by speculators with the intention of selling at a profit on completion of the development. Whilst the owners are awaiting a sale they may have been rented either to the lucrative Cyprus holiday rental market or to short term tenants. Many such lets would be to people wishing to live in the Paphos area whilst they await completion of their own new build Paphos properties.

There is even a good chance that your resale Paphos property may never have been lived in at all. Speculators and investors will be advertising these villas or apartments for sale as soon as they are nearing completion and they need to sell to reinvest the capital in the next development. Often as not these properties will have one or two “sweeteners” included in the deal such as fully equipped kitchens complete with all the white goods or maybe even air conditioning thrown in too. Don’t get the wrong idea though these hard nosed Paphos property investors are in it for the money so they may be hard to crack. The bottom line is however that they make money from money so in many ways they could be seen as motivated sellers.

As the old saying goes “money talks” and buyers that have their finances lined up ready are always going to be in a good position to drive a bargain. Property in Cyprus is not immune to this golden rule and particularly in a thriving area such as Paphos so like the boy scouts it pays to be prepared. Unless you have been marooned on some desert Island for the last 50 years you will know that there is big money in property so these sellers do have room to manoeuvre. If you can’t get the deal you want (within reason) move on to another property. Don’t allow yourself to be blackmailed with the usual lines like “this is the last one” the price is going up next week” or any of the other hard sell patter that will most likely be headed your way.

There is always another Paphos property to buy,in fact new villas and apartments are coming onto the Cyprus property market on an almost daily basis. The very fact that all this development continues at such a pace almost guarantees buyers a good deal because the Paphos property developers and speculators have got to sell somewhere. There is little doubt that prices in Paphos and the surrounding area will continue to rise steadily for some time to come so buyers wishing to cash in should move soon. Paphos villas and apartments are ideal for the small investor or private buyer due to their ease of rental especially to the booming holiday market. If you are considering purchasing property in Cyprus Paphos may be a great place to look.

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