Buy Homes In Cyprus : a Great Investment
Whether you are looking for an investment property, a vacation home, or your permanent residence; many people who buy homes in Cyprus say it's a great choice! Although Cyprus only recently became part of the EU it's growth over the past 10 years has been rapid and its popularity continues to grow. With the fast development of the expatriate community, property values remain a great investment, making Cyprus a great place to live! People say they really can turn their dreams into reality when they buy homes in Cyprus. In fact "buy sell Cyprus property" is a buzz phrase all over the island.
Cyprus enjoys its prime location and magnificent weather which has proven to be a magnet for tourists and people looking at Cyprus property for holiday homes or permanent residences. Now being a full member of the European Union, it has made tremendous advances with vast improvements in communications, transportations, trade and showing growth in all the primary economy indicators. The EU constitutes more than 50% of import and export and over 70% of the 2.4 million tourists in 2006 came from Europe. Cyprus also maintains strong political ties with the Middle East region and Africa. So you can see there is a huge potential number of people who want to buy Cyprus property.
Cyprus property is a hot item and analysts predict that this trend will continue for some time to come. Even with the growing number of homes in Cyprus under construction, it does not appear that supply will outstrip demand any time soon. If you've been thinking to buy a Cyprus property now is a great time to do it - before prices become too prohibitive. A lot of real estate investors hesitated about getting in on the ground floor of the real estate boom in Spain and have regretted it ever since.
Fortunately, for interested Cyprus property investors, there are a large number of houses and villas all over the island from which to choose. In fact, the choice can sometimes be overwhelming, and, since there are literally hundreds of real estate agents as well as developers in Cyprus, it's important that you get a handle on the real estate situation there before you begin your search. Amongst the agents, "buy homes in Cyprus" has been their slogan for many years now and Buy Sell Cyprus is the largest estate agency on the island, with typically over 20,000 Cyprus properties for sale to choose from.
Another fortunate aspect of buying Cyprus properties is that many Cypriots speak English as a second language. 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, however, two differences that you should know about if you want to buy or sell Cyprus property: 1) As a non-resident of Cyprus you are limited to owning only one piece of property on the island, although this restriction may quite possibly be lifted in the future, and 2) in the event that you do purchase a brand new Cyprus property, you will most likely not receive your title deeds for up to five years after the project has been completed. This is perfectly normal and you can sell your Cyprus home at any time before that.
Leave a Comment