Buying Your Villa on the Magical Island of Cyprus
Cyprus is extremely generous when it comes to offering either a romantic memory, a historical adventure or just a sun filled stay. It has that affect on people that once you have been, you just have the urge to go back year after year. It forms part of peoples life to such a degree that they can’t resist the temptation of buying their own villa in the sun. If you are still thinking about it, well Cyprus is still a booming property investment island as growth is abundant and the bubble doesn’t look like bursting yet like it has in Spain or the UK.
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.
Would you like to see a few figures then? Well an average 3 bedroom villa in Cyprus can fetch about a 1000 Euro (800 pounds) a week during the peak season. But even in winter which is as mild as a UK Summer, there are people who are looking for long term winter rentals to escape the UK cold, which make the whole operation very profitable.
You’ll find your rent is nowhere near 1000 Euro a week, it’s not far off being half of that, but if you work this out you’ll still be making 2000 Euro 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 Euro.
You really can’t go wrong at the moment if you buy a villa in Cyprus both as an investment and as an ideal holiday home. You could rent it out to earn high rental income during the peak season and then spend the winter in more sunnier parts. What are you waiting for? If you think this could be for you then I suggest you check out this blog for further investment tips for buying Cyprus Villas… http://www.cyprusinformer.com/blog/
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