Cyprus Property Purchase

>

Cyprus property is selling like hot cakes with more and even more houses being built on the Island there is still no sign of the supply exceeding demand for a lengthy time to come. The downside to this is that rates are continuing to rise and will do so for some time to come. If you are thinking about purchasing a villa or apartment in Cyprus now may be the top time to get your plans moving. A lot of would be investors hesitated for the duration of the Spanish property boom and lived to regret their tardiness. We ourselves could have purchased a Cyprus villa in the top resort back in 1998 with three beds a pool and en-suit bathroom for only £65k! We held back and ended up paying almost £180k for a similar property six years later. Owch!

The fantastic news for Cyprus property buyers is that there is a enormous option of houses and villas all over this attractive Island. No matter if you are searching for an apartment or a luxury Cyprus villa you will not have to look far. The only downside is that the tremendous option could be slightly overwhelming if you are unsure where to start. There are literally hundreds of developers and property agents in Cyprus so you will need to do some homework just before you dive in. Like every thing else in life there are superior and poor with property agents being no exception to the rule. On the whole however most Cyprus property businesses have wonderful long standing reputations when it comes to dealing with non residents.

Obtaining Cyprus property has never ever been less complicated with so several people today speaking English as a second language. The solicitors and property agents all have English speaking staff so you shouldn't expierence any communication difficulties when conducting your small business with them. The legal program in Cyprus is particularly similar to that in the U.K. due to the British influence during their occupation of the Island up until the 1960s. There are 1 or two issues on the other hand that you should really be conscious of. Firstly as a non resident of Cyprus you are only allowed to own one property on the Island although this scenario could possibly alter in the future. The other factor to be aware of is that if you purchase a brand new Cyprus property you are unlikely to obtain your title deeds for anywhere up to 5 years following completion of the project.